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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.
By Janice G. Inman
When customers, employees and others invited to or simply passing by a leased commercial property are injured, and want compensation, who will be on the hook for the costs of bodily injury and property damage — the landlord, the tenant, the maintenance and security contractor hired by them, or some combination of these?
By Daniel A. Lev
Part Two of a Two-Part Article
As addressed in the first part of this article last month, addressing the problems confronting golf course owners seeking financial restructuring under Chapter 11, the ability of a debtor to reject a restrictive covenant under Section 365 or to sell free and clear of a covenant under Section 363(f) is limited and the obstacles are difficult to surmount.
By David B. Saxe and Brett Dockwell
As retail vacancies have multiplied in New York City in recent years, some in the City Council have advocated for the reconsideration of commercial rent control, as set out in a proposed piece of legislation, the Small Business Jobs Survival Act This article provides a brief, nontechnical review of the bill and the legal and practical hurdles it faces if enacted.
By Elizabeth Kluger Cooper and Kimberly C. Jones
Navigating through a murky arbitration clause is no easy feat. Assuming familiarity with the basics, the following is a list of considerations that should prove valuable whether representing the tenant or the landlord.