With Hurricane Idalia about to cross Florida, people are naturally focused on preparations and the potential adverse impacts that it will have. For businesses, that should include analysis of contractual obligations that...more
In previous updates Tonkon Torp attorneys have addressed the applicability of Force Majeure clauses in commercial contracts. As expected, commercial renters are taking a beating, and many have been forced to close as a result...more
The unprecedented health crisis arising from the novel Coronavirus disease (“COVID-19”) and measures enacted by the Spanish Government to contain the spread, has in some cases affected contractual performance. The...more
The COVID-19 pandemic has generated an unprecedented crisis, throwing companies into uncertainty as to the fate of their contractual commitments. In response to the legitimate questions raised by such situation, many articles...more
The following provisions apply to contracts subject to the Public Procurement Code, administrative contracts and contracts concluded by public entities operating a network activity. However, in New Caledonia and Polynesia,...more
As countries around the world respond to the arising threat posed by the coronavirus (COVID-19) pandemic, businesses are finding their operations interrupted due to a number of reasons, such as personnel shortages, supply...more
COVID-19, the disease caused by the current coronavirus, is upending normal life around the world, and with it hindering the performance of many commercial contracts. With borders closing and people staying at home, most...more
The global coronavirus disease (COVID-19) pandemic as well as the containment measures adopted by various countries, including France since 17 March 2020, affect all companies. Some of these are questioning their ability to...more
Even though we are in the early days of assessing the impact of the COVID-19 pandemic on mergers and acquisitions, much has already been written about the extent to which this crisis could amount to a material adverse change...more
The continuing COVID-19 pandemic is causing significant disruption across the globe with governments implementing a variety of measures, including travel restrictions, nationwide lockdowns and the cancellation of large-scale...more
How Does the Pandemic Alter Your Lease Obligations? Given the current circumstances arising from the COVID-19 pandemic and associated government-ordered closures, landlords and tenants both must analyze how their leases and...more
As COVID-19 continues to spread and claim lives, various federal, state, and local government agencies have reacted with unprecedented measures around, among other issues, social distancing and business closures. Indeed, as...more
As employers everywhere grapple with the COVID-19 crisis and its impact upon their employees and operations, questions have arisen regarding union contracts that expire on or about March 31, 2020. Although every labor...more
The stakes associated with successful performance by federal contractors are higher than they have ever been in a non-wartime setting. In areas ranging from pharmaceutical and medical supply, to construction, to logistical...more
As the coronavirus (COVID-19) outbreak continues to spread throughout the United States, many government contractors are faced with unknown questions about continuing performance on contracts. Given the fast-moving situation,...more
Acquisition agreements customarily address risk associated with significant downward changes to the target’s business prior to closing through a variety of provisions, including through the use of the “material adverse...more
A key tool in mitigating the risks due to unforeseen events is the force majeure clause contained in many commercial and other types of contracts. In various states, including Maryland, residential and commercial construction...more
While it is true that a number of States and local municipalities have stopped all eviction proceedings and many courts are currently closed, the issue of rent remains front and center between landlords and tenants. The...more
How can companies respond to the impact on the COVID-19 crisis on their current contracts, either because a reduced workforce, interrupted supply chain, or governmental orders to shut down businesses? On 30 January 2020,...more
COVID-19 and the related disruption have resulted in enormous pressure on society and businesses. Material adverse change (“MAC”) clauses in loan agreements present important issues that borrowers and lenders alike need to...more
The coronavirus pandemic has become an encompassing aspect of everyday life, impacting everything from where we work to when we go shopping. We have heard from many commercial landlords about how to address issues that are...more
As the current health crisis from COVID-19 grows, electricity market participants may benefit from developing strategies to assess their risks and protect from potential disputes. All parties may benefit from a deal that...more
In mergers and acquisitions, corporate finance and lending, a period of time often passes between signing the applicable transaction agreement and closing the transaction. During the period when the parties prepare for...more
The coronavirus (COVID-19) pandemic—alone or coupled with government orders limiting activities—has impacted the ability of many businesses to maintain operations and to fulfill contractual obligations. Over the past few...more
As governments around the world work to contain the COVID-19 pandemic and the public is reintroduced to the phrase “shelter-in-place,” another age-old term has quickly emerged as the clause du jour in commercial contracts:...more