Have you received an offer to buy your company? Congratulations! But there is work ahead. The first step is to understand the specific deal structure, be it an asset sale, equity sale or merger. The owners should also work...more
As 2024 gets underway, the nonprofit sector will continue to face new challenges in addition to grappling with ongoing challenges that continue to impact the sector. Our interdisciplinary team, serving thousands of nonprofits...more
Finding a suitable location for a cannabis retail store is not easy, especially in New York City, where quality retail locations are scarce and expensive, and regulations are more robust than most other municipalities....more
For those of us that practice in the world of commercial real estate financing transactions, the fact pattern is a tale as old as time: the Bank is making a term loan secured by real estate largely based on leases on the...more
Few propositions are as much of a win-win for both the holders of mortgages and the developers of renewable energy projects as non-disturbance and attornment agreements....more
Land banking was one of the hardest hit industries during the 2008 Great Recession. As the housing and financial markets declined drastically, many homebuilders terminated their option agreements with the land bankers and...more
Case Name: Classen Immunotherapies, Inc. v. Elan Pharms., Inc., Case No. RDB-04-3521, 2016 U.S. Dist. LEXIS 131964 (D. Md. Sept. 27, 2016) - Drug Product and Patent(s)-in-Suit: Skelaxin® (metaxalone); U.S. Patent No. 6,...more
Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more
Enforceability of Electronic Agreements in Real Estate Transactions - Increasingly, and not surprisingly, more and more transactions are being created, negotiated, finalized and executed electronically. From a real...more
What is an SNDA? An SNDA, or subordination (the “S”), non-disturbance (the “ND”) and attornment (the “A”) agreement, is an agreement between the lender providing financing to the landlord and a tenant of the property. ...more
Case Name: Otsuka Pharmaceutical Co., Ltd. v. Burwell, Civ. No. GJH-15-852, 2015 U.S. Dist. LEXIS 68230 (D. Md., May 27, 2015) (Hazel, J.) - Drug Product and Patent(s)-in-Suit: Abilify® (aripiprazole); N/A - Nature...more
A potentially significant case being watched by the pharmaceutical industry is Amarin Pharma, et al., v. U.S. Food and Drug Administration, et al., Civ. A. 15-cv-3588 (S.D.N.Y.). The complaint, filed in May 2015, is a “First...more
While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and Attornment Agreement,” commonly referred to a an “SNDA,” a majority of tenants who have signed such leases,...more
Tenants’ limited recourse to their landlords has made “offset rights” a major issue in negotiating Subordination, Non-Disturbance and Attornment Agreements (SNDAs). Tenant offset rights arise when the tenant has the...more
Depending on the situation, sometimes leasing space from another tenant is a good business decision in terms of price, location and size. While a sublease arrangement makes sense from a business perspective, a subtenant...more
Subordination, Non-Disturbance and Attornment agreements (SNDAs) allow lenders, landlords and tenants to collectively plan for the worst case scenario — foreclosure. In the event of foreclosure and in the absence of an SNDA,...more