Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Assignments and Collateral Assignments of Commercial Leases
There are differences between assignments of leases and collateral assignments of leases, and each has aspects that parties to these agreements should expect and look out for. Let's discuss some of these issues.
Commercial Lease Assignments
An assignment of lease agreement is a contract to effectuate a transfer to an assignee of title and rights to certain real property held by a lessee or tenant pursuant to a lease. There are varying reasons why a tenant may want to assign the lease. Most often, a tenant will look to assign its lease in the event that its business is failing and they can no longer pay rent, or the tenant is selling its business and the purchaser would like to take over the commercial space to operate the business (sometimes the reason may be a combination of these). While it may seem that a landlord would not object to an assignment so long as the rent is still being paid, landlords often want control over lease assignments, to protect themselves from incoming assignees that may not be credible tenants.
Assignment provisions in a commercial lease are usually coupled with subletting provisions, though the two concepts are not one in the same. When a tenant sublets its premises to a subtenant, privity of contract is not created between a sublessee and a landlord. In the case of an assignment, the assignee assumes the lease as the new tenant and privity with the landlord is created. In some cases, but not all, the assignor may be released.
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.