: A provision in a lease whereby real estate tax increases imposed on the lessor are passed along to the lessee as additional rent; also referred to as an Escalator clause.
Obviously, the dreaded stop clause
was not invoked.
But on March 20 came word that Martin Markinson, owner of the Helen Hayes, had invoked the stop clause
, giving the "Squonk" producers two weeks to vacate the venue.
It recovered a bit in January, but the Shubert Organization, which owns the Royale, invoked the stop clause
when figures fell below a certain level during 1999.