In Highline LLC v. 514 W. 24th St. Partners LLC, 2021 NY Slip Op. 31042(U), the Court held that when the contract itself specifies the remedy for a party’s violation of a particular clause in the contract, that specified remedy will prevail and be enforced over another clause in the contract that generally stated “the rights and remedies [] in this Agreement [] shall not [prevent a party’s right to] exercise [] any other rights and remedies [of that party].”
The court’s reasoning is based on a certain generally accepted standard of contract interpretation: a clause that is specific with respect to a contract issue will trump a clause that refers to that contract issue only in general terms.