Use and Enforcement of SNDAs In the Hotel Industry
August 01, 2022
This article examines the agreement — known as a Subordination, Non-Disturbance and Attornment Agreement (SNDA) — typically used by hotel lenders, owners and managers to set forth their respective rights upon a foreclosure, and consider disputes that may arise when a party seeks to enforce its SNDA rights.
When Do COVID-19 Shutdown Orders Excuse Lease Guarantors?
July 01, 2022
Section 22-1005 of the New York City Administrative Code provides relief for individuals who guaranteed commercial leases when the tenant defaulted as a result of government orders issued during the early days of the COVID-19 pandemic. In recent months, however, litigation has emerged about the scope of that relief.
Landlord & Tenant Law
July 01, 2022
Questions of Fact Remain About Whether Landlord Had Released Corporate Tenant from Liability
Yellowstone Injunction Does Not Require Proof of Likelihood of Success
Guaranty Expired With Tenant's Initial Lease Term
Illegal Use Does Not Preclude Rent Stabilization Status
Guarantor Immunity Does Not Apply to Pre-COVID Breaches
Class Certification Appropriate for Claim of Improper Deregulation
Applying 'Part Performance' In Practice
July 01, 2022
The doctrine of part performance can overcome the strictures of the Statute of Frauds when parties enter into unwritten business deals, or into written business deals with unwritten ancillary terms and they do not contemplate all of the possible circumstances that might arise in the course of their dealings.
Do COVID-19 Shutdown Orders Excuse Lease Guarantors?
July 01, 2022
Section 22-1005 of the New York City Administrative Code provides relief for individuals who guaranteed commercial leases when the tenant defaulted as a result of government orders issued during the early days of the COVID-19 pandemic. In recent months, however, litigation has emerged about the scope of that relief.
Long Term Demand Should Shield Commercial Real Estate from Inflation Impact
July 01, 2022
The U.S. economy is "still strong" and will support commercial real estate space demand, though inflation will remain a multi-year headwind, forcing the Fed to tighten monetary policy. And though rising interest rates may restrain CRE transaction activity, it won't be on a broad basis, with effects most visible in the property types and markets with the most aggressive pricing run-up over the last few years.
The Interplay Between Vendor Finance Agreements and Bankruptcy
July 01, 2022
While regularly used among lenders, manufacturers, and dealers, treatment of Inventory financing program agreements in bankruptcy is not uniform, and uncertainty exists with respect to how such agreements may be treated in the context of a manufacturer's Chapter 11.
