The injunction stays a landlord's termination of a leasehold while the propriety of the underlying default is litigated. The injunction does not nullify the remedies to which a landlord is otherwise entitled under the parties' contract. Instead, it maintains the status quo so that a commercial tenant, when confronted by a threat of termination of its lease, may protect its investment in the leasehold by obtaining a stay tolling the cure period so that upon an adverse determination on the merits the tenant may cure the default and avoid a forfeiture. In order t o obtain a Yellowstone injunction, the tenant must demonstrate that (1) it holds a commercial lease; (2) it received from the landlord either a notice of default, a notice to cure, or a threat of termination of the lease; (3) it requested injunctive relief prior to both the termination of the lease and the expiration of the cure period set forth in the lease and the landlord's notice to cure; and (4) it is prepared and maintains the ability to cure the alleged default by any means short of vacating the premises.
255 Butler Assoc., LLC v. 255 Butler, LLC, NY Slip Op 05066 (2d Dep't August 31, 2022)
