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The Pitfalls for Landlords to Avoid in Leases Involving New Construction
New construction always involves myriad unknowns ' cost and timing are two of the biggest. However, if you add the complication of negotiating a lease at the same time, the problems quickly multiply. This article addresses some of these issues and provides advice for the landlord's use to avoid ending up in a situation where the lease becomes unprofitable.
The most obvious issue the parties face when negotiating a pre-construction lease is deciding on the date that the landlord is obligated to deliver possession of the completed premises to the tenant. It is important for the landlord to negotiate something less than absolute completion. The delivery date should therefore be determined when the landlord substantially completes its work in accordance with required plans. Substantial completion means completion sufficient to allow a tenant to take possession and operate the space, but may require the completion of minor punch list items. Similarly, if the landlord is required to deliver a certificate from an architect or contractor, the certificate should be one of substantial completion. This allows the clock to start ticking for determining when the rent begins and when the tenant is required to open for business. The landlord can complete any punch list items after the delivery.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.