A commercial tenant (tenant) occupied the entire 24th floor and a Penthouse Suite located on the 25th floor, pursuant to a written lease. The tenant’s president (guarantor) had guaranteed the lease pursuant to a limited guaranty.

The landlord had commenced an action against the tenant and the guarantor asserting claims for breach of the lease and guaranty. The landlord obtained a default judgement against the tenant and the guarantor. However, the court subsequently vacated the guarantor’s default.

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