Remedies Provisions in Commercial Real Estate Sales Contracts

Strategies for Buyers and Sellers Negotiating and Enforcing Default Clauses

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, May 31, 2011
Recorded event now available


This CLE webinar will provide guidance to real estate counsel for negotiating and enforcing default and remedies provisions in commercial real estate purchase and sale agreements.

Description

Default and remedies clauses—formerly treated as boilerplate clauses drafted without serious scrutiny or consequence—have become heavily negotiated provisions in commercial real estate purchase contracts. Remedies provisions are also now being tested in disputes regarding failed real estate deals.

Buyers and sellers both run the risk of defaulting on a real estate purchase contract and exposing themselves to a range of potential remedies, including specific performance and financial damages. Thoughtful evaluation of all possible remedies is critical during contract negotiation.

When a contract is breached, the defaulting party and non-defaulting party may encounter legal and practical challenges when trying to enforce their remedies. Counsel must act strategically to maximize recovery for the non-defaulting party or protect the defaulting party against excessive damages.

Listen as our authoritative panel of real estate attorneys provides strategies for buyers' and sellers' counsel negotiating default and remedies provisions in commercial real estate purchase and sale agreements. The panel will discuss the impact of the economic crisis on the negotiation process and offer best practices for counsel to protect their clients' interests during contract negotiation and remedy enforcement.

Outline

  1. Current market trends
    1. Trends in failed real estate deals
    2. Trends in commercial real estate purchase negotiations
  2. Default and remedies negotiation and enforcement
    1. When has default occurred?
    2. Common remedies for default
    3. Negotiation considerations and strategies
    4. Enforcement considerations and strategies
    5. Remedies related to Special Purpose Entities

Benefits

The panel will review these and other key questions:

  • How have current market conditions affected terms of real estate purchase agreements, particularly default and remedies clauses?
  • When is default of a commercial real estate sales contract considered to have occurred? What are the most commonly negotiated remedies for default?
  • What best practices should counsel to buyers and sellers use when negotiating default and remedies clauses?
  • What legal and practical challenges do buyers and sellers counsel face when seeking to enforce default and remedies clauses—and how can they overcome them?

Faculty

Larry N. Woodard, Shareholder
Robbins Salomon & Patt, Chicago

He has represented Fortune 500 companies, private developers, condominium associations, units of local government, investors, landlords, tenants, private REITs and syndications in the development, financing, leasing, zoning, acquisition or disposal of their real estate interests. He has experience negotiating and documenting a broad range of transactional matters.

Ordering

Recorded Event

Includes full event recording plus handouts (available after live webinar).

CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, FL, GA, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, ID*, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)

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On-Demand CLE - Audio Recording

Includes streaming audio of full program plus handouts (available 24 hours after live program).

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*Not available for transitional attorneys in NY.

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Available 24 hours after the live event

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Program Materials

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Program Materials

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Customer Reviews

I appreciated that the presenter was well organized and had thoroughly researched the subject matter. I found the materials and presentation informative thought provoking.

Toni Morlas

Kelly Law Registry

Length was ideal and the topic was timely. Excellent!

Jeanette Henderson

University of Washington

It was a very good program with very experienced speakers.

Craig McMahon

Kimball Tirey & St. John

Very good current, practical and applicable discussion and information provided.

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Webinar contained lots of new information and real life examples.

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McGuireWoods

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Real Estate Law Advisory Board

David A. Barksdale

Partner

Ballard Spahr

Jacob Bart

Partner

Stroock & Stroock & Lavan

Brian W. Blaesser

Partner

Robinson & Cole

Ronald B. Grais

Of Counsel

Jenner & Block

Ren R. Hayhurst

Partner

Bryan Cave

Thomas C. Homburger

Of Counsel

K&L Gates

Susan C. Tarnower

Counsel

Kilpatrick Townsend & Stockton

Clark T. Thiel

Partner

Jones Day

or call 1-800-926-7926

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