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A Little Knowledge Goes a Long Way: A High-Level Overview of Liability Insurance Provisions in a Retail Lease Agreement
Some of the most overlooked sections in a lease for a retail shopping center are the insurance provisions. Even experienced asset managers and general counsel often have a number of questions surrounding insurance provisions in shopping center leases. Despite their seemingly lackluster nature, well-drafted insurance provisions in a contract between a landlord and tenant can be extremely important when it comes to mitigating potential exposure and protecting a shopping center's assets.
Required Coverage
Nearly every shopping center lease agreement contains provisions requiring the tenant to procure and maintain liability insurance for itself continuously throughout the term of the agreement. There is significant protection for a landlord in having its retail tenants bound by lease provisions that require the tenants to maintain insurance coverage for themselves.
It is prudent for a landlord to spell out each type of insurance coverage it requires its retail tenant to maintain. First and foremost, a landlord has an interest in making sure its tenant has commercial general liability insurance that will cover both bodily injury and property damage. If a customer injured while on the tenant's premises is compensated by the tenant's policy, this reduces the exposure for a claim against the property owner.
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The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.