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Tenants Letter of Credit

Buchalter

UPDATE: Advice to Landlords Holding Letters of Credit Issued by Silicon Valley Bank, and Landlords Where Silicon Valley Bank is a...

Buchalter on

What a week this has been since the closure of Silicon Valley Bank. As noted in our Client Alert of last week, California State regulators shut down Silicon Valley Bank (SVB) on Friday, March 10, 2023, and appointed the...more

Foley & Lardner LLP

Ripple Effect of Recent Bank Insolvencies on Real Estate

Foley & Lardner LLP on

The closure of Silicon Valley Bank (SVB) and Signature Bank, and the subsequent receivership by the Federal Deposit Insurance Corporation (FDIC), has far-reaching effects, including to commercial real estate transactions in...more

Allen Matkins

Legal and Business Strategies Regarding FDIC Takeover of Silicon Valley Bank

Allen Matkins on

This alert is meant to supply some valuable information for landlords that currently hold tenant letters of credit from Silicon Valley Bank (“SVB”). SVB was closed this morning by the California Department of Financial...more

Patterson Belknap Webb & Tyler LLP

Tenants in Bankruptcy: Landlord’s Ability to Draw on Letter of Credit May Turn on Notice Requirements in Lease

The economic fallout from the COVID-19 pandemic has been particularly acute for commercial landlords. As retail and other tenants fall further behind on rent and other obligations, lessors are finding themselves drawn into...more

Pillsbury Winthrop Shaw Pittman LLP

California Commercial Tenant Security Deposits in a COVID-19 World

In the wake of government-ordered moratoriums on commercial tenant evictions, how does a California commercial tenant’s security deposit come into play as an available landlord remedy for a lease default? Commercial lease...more

Jackson Walker

Using Letters Of Credit For Tenant Credit Enhancement

Jackson Walker on

I. Introduction. Cash security deposits (typically in the amount of one or two month’s rent) have been the traditional form of tenant credit enhancement required by commercial landlords. However, in instances where...more

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