Greystone Select Holdings LLC v. Computershare Trust Company, N.A.

S.D. New York

Greystone Select Holdings LLC v. Computershare Trust Company, N.A.

DecidedJanuary 29, 2025

Docket1:24-cv-00657

StatusUnknown

This text of Greystone Select Holdings LLC v. Computershare Trust Company, N.A. (Greystone Select Holdings LLC v. Computershare Trust Company, N.A.) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Greystone Select Holdings LLC v. Computershare Trust Company, N.A., (S.D.N.Y. 2025).

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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

GREYSTONE SELECT HOLDINGS, Plaintiff, v. 1:24-CV-00657-LTS WELLS FARGO BANK, N.A. and COMPUTERSHARE TRUST COMPANY, N.A., Defendants.

ORDER The Court directs both parties to submit supplemental briefing concerning the interpretation of the definition of “Base Rate” as that term is defined in Schedule A, Paragraph 3 of the indenture agreements,1 and whether the meaning of the definition can be resolved at this stage of the litigation. See MAK Tech. Holdings Inc. v. Anyvision Interactive Techs. Ltd., 42 N.Y.3d 570, 2024 WL 3055302 (2024). As applicable, such briefing shall set forth each party’s proposed interpretation of the definition. Defendants shall file a brief by February 5, 2025, and Plaintiff may file its response by February 12, 2025, and Defendants may file a reply by February 18, 2025. The initial briefs shall not exceed 1,500 words in length and the reply brief shall not exceed 1,000 words.

1 “Base Rate” is defined to “equal the greater of the arithmetic mean of (i) the ‘prime rate’ for dollar denominated loans quoted by leading banks in the City of New York selected by the Calculation Agent and (ii) the Federal Funds Rate (as defined below) plus 0.50% per annum[.]” (Docket entry nos. 10-1, 10-2 at Sched. A, ¶ 3.) SO ORDERED.

Dated: New York, New York January 29, 2025

/s/ Laura Taylor Swain LAURA TAYLOR SWAIN Chief United States District Judge

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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

GREYSTONE SELECT HOLDINGS, Plaintiff, v. 1:24-CV-00657-LTS WELLS FARGO BANK, N.A. and COMPUTERSHARE TRUST COMPANY, N.A., Defendants.

ORDER The Court directs both parties to submit supplemental briefing concerning the interpretation of the definition of “Base Rate” as that term is defined in Schedule A, Paragraph 3 of the indenture agreements,1 and whether the meaning of the definition can be resolved at this stage of the litigation. See MAK Tech. Holdings Inc. v. Anyvision Interactive Techs. Ltd., 42 N.Y.3d 570, 2024 WL 3055302 (2024). As applicable, such briefing shall set forth each party’s proposed interpretation of the definition. Defendants shall file a brief by February 5, 2025, and Plaintiff may file its response by February 12, 2025, and Defendants may file a reply by February 18, 2025. The initial briefs shall not exceed 1,500 words in length and the reply brief shall not exceed 1,000 words.

1 “Base Rate” is defined to “equal the greater of the arithmetic mean of (i) the ‘prime rate’ for dollar denominated loans quoted by leading banks in the City of New York selected by the Calculation Agent and (ii) the Federal Funds Rate (as defined below) plus 0.50% per annum[.]” (Docket entry nos. 10-1, 10-2 at Sched. A, ¶ 3.) SO ORDERED.

Dated: New York, New York January 29, 2025

/s/ Laura Taylor Swain LAURA TAYLOR SWAIN Chief United States District Judge

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