- 36 -
On the entire record before us, we find that the lease
agreement did not allocate rent to the 11.5-month period of zero
rent in an amount equal to the Partnership letter of credit (or
in any other amount) and that Partnership is not required for
1988 to accrue as rent the amount of that letter of credit.
To reflect the foregoing and the concessions of the parties,
Decision will be entered
under Rule 155.
21(...continued)
required by the partnership agreement in order to service the
TIAA term loan.
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