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Opportunities for Landlord Abound When Tenant Exercises Renewal Option
When a tenant exercises an option to renew its lease, the landlord's usual inclination is to save time and effort by treating the tenant's notice letter as sufficient to accomplish the renewal. This inclination should be strongly resisted ' not only because such a notice may be inadequate, but also because the landlord may be missing out on an opportunity to update the original lease and often improve upon the existing documentation. This is especially true where the renewal is at 'market,' which offers the landlord the possibility to argue that certain changes are necessary to conform to market conditions.
A common problem is that the parties to the original lease have changed, and the changes have not been adequately addressed in the past. Therefore, the first item the amendment should address is the route the lease has taken to end up with the parties who are signing the amendment. Often, there have been assignments, mergers, or name changes, and the parties to the original lease are not the parties who need to sign the renewal documents. The amendment should trace the chain of transfers and explain how the parties ended up being who they are. This presents an opportunity for the landlord to require formal documentation from the tenant to justify internal transfers and to verify that the party now in possession has the financing wherewithal to support the lease. Often, the landlord will conclude that the current party in possession needs to come up with an additional security deposit or a guaranty to the lease. The landlord should have any existing guarantor reaffirm that the guaranty remains in full force and effect through the extension period and that the guarantor consents to and acknowledges all of the terms and conditions of the amendment.
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.
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.
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.