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,...
Holdover Provisions in Commercial Leases
Holdover provisions are an important aspect of commercial leases, where the timing of tenant turnover can have significant implications for landlords. A holdover occurs when a tenant remains in possession of the leased premises after the expiration of the lease term...
Negotiating A Cap on Controllable Operating Expenses in a Commercial Lease
In the context of commercial real estate, particularly with triple net (NNN) leases, the allocation of operating expenses is a key component. NNN leases typically allow landlords to pass through the cost of operating a property to tenants. While this arrangement...
Landlord Waiver/Subordination Agreement in Commercial Leasing
A Landlord Lien Waiver or Subordination Agreement is a legal document in which a landlord agrees to waive or subordinate any security interest they may have in a tenant's personal property, such as inventory or equipment, located within the leased premises. This...
Tenant Self-Help Provisions in Commercial Leases
Tenant self-help provisions in commercial leases are unique clauses that allow tenants to address specific landlord defaults by taking action themselves. These provisions are rare and typically only accessible to tenants with significant bargaining power. A...
Tenant Surrender Obligations in Commercial Leases
Tenant surrender obligations are an important aspect of commercial leasing, defining the conditions under which a tenant must return the leased premises to the landlord at the end of the lease term. These obligations impact the landlord's ability to re-let the space...
Tenant Improvement Allowances in Commercial Leases
In commercial leasing, tenant improvement allowances (TIAs) are a common and important component of lease negotiations, requiring careful consideration by both landlords and tenants. What Is a Tenant Improvement Allowance? A tenant improvement allowance is...
Allocating Responsibility for Interruptions in Utility Service under a Commercial Lease
Utility service is a fundamental component of any commercial lease, ensuring that tenants have the necessary resources to conduct their business in the leased premises. Unfortunately, interruptions in utility service can and do occur for a variety of reasons, causing...
Landlord Warranties in Commercial Leases
Landlord warranties can be an important element in commercial lease agreements, providing tenants with assurances regarding the condition and functionality of the leased premises. These warranties help establish clear expectations and responsibilities for both...
Early Access Provisions in Commercial Leases
Early access provisions, also known as beneficial occupancy periods, provide tenants with entry to the leased premises before the official lease commencement date. This access period allows tenants to prepare the space for their intended use, such as installing...