Why Are Landlord and Tenant Indemnity Obligations Different in a Commercial Lease?
Indemnity provisions are an important component of commercial lease agreements, defining the extent to which each party is responsible for damages, claims, and liabilities arising from incidents related to the leased property. In essence, an indemnity provision is a...
Consequential Damage Waivers in Commercial Leases
In the realm of commercial leasing, the allocation of risk and liability is a central concern for both landlords and tenants. One critical aspect of this negotiation is the treatment of consequential damages—a category of damages that can extend beyond the direct,...
What is a Choice of Law Provision in a Commercial Real Estate Purchase Agreement and Why is it Important?
Although it may appear to be boilerplate language, the choice of law clause plays a practical role in shaping how a purchase agreement is interpreted and enforced. For both buyers and sellers, identifying the governing law in advance can reduce procedural...