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Challenges in Drafting a Restaurant Exclusive Use Clause
An exclusive use clause is one of the most important and heavily negotiated business issues in a shopping center lease, and therefore, it is usually negotiated by the principals or brokers in the letter of intent. In a typical shopping center lease, the tenant has committed to invest considerable sums to open its store, and expects to be able to recover such sums and earn additional profit based upon projections at that store. These projections are often built upon the anticipated demand for the tenant's product in the particular location, and the location's ability to support the demand.
Profit margins for retailers can be quite thin, particularly for restaurants and food-service tenants. Consequently, a restaurant tenant will contend that adding additional restaurants with overlapping cuisines or products could severely infringe upon its profits, thereby changing the tenant's projections and the economics of the deal. The tenant, therefore, seeks to include broad, exclusive-use protection to preclude such overlapping and to afford the tenant the most likely path to success, which success benefits both the landlord and the tenant. Such protection, the tenant will argue, is baked into the rent as consideration for the deal.
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.