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You’re familiar with the boilerplate provisions, often under “Miscellaneous” at the end of a lease. Despite their B-side placement within the lease, these clauses can contain key lease terms. From integration and force...more
Earlier this year, Money and Dirt covered a then recent case, West Pueblo Partners, LLC v. Stone Brewing Co., LLC, which was one of the first California cases dealing with the aftermath of the Covid-19 pandemic and the legal...more
While we hope the virus will soon be a thing of the past, some contractual provisions and issues are sure to become part of real estate professionals’ new normal. As a result of lessons learned from the pandemic, most real...more
Lately, each day has brought more signs that pandemic restrictions are being loosened and the opportunity for a “return to normal” is growing. But for commercial real estate landlords and tenants, will there be a new normal?...more
Please join Troutman Pepper for the second installment of its COVID-19 Commercial Leasing Trends Podcast series on legal and business issues confronted by companies in light of the COVID-19 pandemic. Moderated by Troutman...more
The COVID-19 pandemic has strained commercial landlord-tenant relationships across the United States. As the courts wade their way through the backlog of lawsuits filed in 2020, there are a growing number of decisions...more
Over the course of the last year, commercial landlords have become intimately familiar with the legal principles wielded by tenants to excuse the payment of rent. ...more
Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...more
Corona virus as a force majeure event in hotel lease agreements - Rent payment and business interruption insurance - Since the hotel industry is severely affected by the current situation due to the new corona virus...more
The lingerie brand Victoria’s Secret (“VS”) has struggled in recent years. VS’ overtly sexy aesthetic has failed to keep up with shifting consumer tastes towards comfort and gender and size inclusivity....more
Commercial tenants: remember that extensive and wholly uninteresting document entitled “Lease Agreement” that you scanned, signed and then shoved into a file folder and never thought of again? Well, it’s making a comeback....more
As the economic effects of COVID-19 rage on, litigants are seeking to excuse contractual performance by invoking force majeure clauses. To date, there is a limited universe of applicable decisions, and the rulings reaffirm...more
As discussed in previous updates, COVID-19 has brought the concept of force majeure to the forefront across multiple practice areas. As the pandemic-caused shutdowns began, scholars and businesses alike re-examined the...more
Almost six months into the COVID-19 global pandemic, it is apparent that the commercial leasing landscape has changed indefinitely. Going forward, landlords and tenants will need to re-evaluate certain common lease provisions...more
Much has been written about commercial real estate in a post-Covid world. As real estate users consider how Covid will change their space needs, they should also consider what provisions will serve them in future...more
During this age of pandemic, lease modifications are going to be abundant. The silver lining to that necessity is that like renewals or assignments, they offer an opportunity to review the lease provisions and correct any...more
As discussed in our last update, the legal landscape continues rapidly to evolve in response to COVID-19. Six recent decisions, summarized below, highlight the continuing uncertainty as to the application of certain laws and...more
In the social and economic fallout from COVID, businesses are assessing how best to address their commercial relationships, especially where potentially insurmountable barriers to performance loom large. One clause that...more
Co-Tenancy clauses have historically been included mainly in leases for mall and shopping center tenants (i.e., retail centers with big-box tenants, such as Dick’s Sporting Goods). While the landscape for retail shopping...more
The retail industry has experienced an unprecedented and immediate shift as a result of the economic fallout from COVID-19. One of the most apparent changes is evident when handling commercial retail leasing; read on to...more
If I cannot operate my business, am I liable for rent? If the government closed my tenant’s business, not me, why can’t I collect rent? These questions face thousands of commercial tenants and landlords during the COVID-19...more
The first reported substantive ruling by a judge sitting in Illinois on the legal implications of whether COVID-19 and the resulting governmental shelter-in-place orders relieve a tenant’s obligation to pay rent pursuant to a...more
New York courts are resuming some operations, but eviction proceedings, including for violations of commercial leases, are still suspended. However, those contracts — and the obligations they created — still exist. ...more
Much has been written about the general applicability of the frustration of purpose, impossibility, and impracticability doctrines to performance of leases and other contracts in the wake of COVID-19....more
The coronavirus pandemic is pushing the litigation envelope to new and often unexpected heights. From force majeure and landlord-tenant agreements to mounting class-action lawsuits, our lawyers Matthew Liben and Robin...more