Commercial Lease Restructurings and Workouts

Negotiation Strategies for Landlords and Tenants in Troubled Leases

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


Conducted on Wednesday, September 22, 2010

Recorded event now available

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Program Materials

This CLE webinar will provide guidance for counsel to commercial landlords and tenants on restructuring leases, negotiating lease workouts, and pursuing or defending an eviction and breach of contract action in the current real estate market.

Description

Lease defaults are at a record high and vacancies are mounting, providing significant leverage to tenants in lease negotiations. Tenants seeking to benefit from current market conditions are pressing for restructured lease terms, including reduced rent and other midterm concessions.

Moreover, tenants concerned about their landlords financial stability are insisting upon subordination, non-disturbance and attornment agreements to protect themselves. At the same time, tenants with failing businesses are pursuing lease workouts to avoid eviction.

Counsel for commercial landlords and tenants must carefully negotiate lease restructurings and workouts to protect their clients’ interests in the event the restructuring or workout fails. Counsel must also prepare to pursue or defend potential eviction and breach of contract lawsuits if necessary.

Listen as our panel of real estate attorneys offers strategies for commercial landlords and tenants negotiating troubled leases. The panel will discuss legal considerations and explain best practices for restructuring leases, negotiating lease workouts, and pursuing or defending an eviction and breach of contract action in the current real estate market.

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Outline

  1. Current market trends
    1. Tenant lease defaults
    2. Leasing prices and incentives
    3. Mid-term concessions
    4. Subordination, non-disturbance and attornment agreements
  2. Options and strategies for keeping the tenant
  3. Options and strategies for ending the tenancy

Benefits

The panel will review these and other key questions:

  • What impact do current market dynamics have on the negotiation of commercial leases?
  • What lease terms should landlords be most concerned about when renegotiating an existing lease with a tenant?
  • How can subordination, non-disturbance and attornment agreements protect tenants in the event of foreclosure against a landlord?
  • What are some effective strategies for counsel for landlords and tenants when preparing to pursue or defend an eviction action?

Faculty

Richard R. Spore, III
Richard R. Spore, III

Member
Bass Berry & Sims

He practices in the areas of commercial real estate development, finance and leasing; business planning for business...  |  Read More

Gregory G. Gosfield
Gregory G. Gosfield

Partner
Klehr Harrison

He is a member of the Real Estate and Finance Department. He has a depth of experience in counseling clients on debt...  |  Read More

Yolanda Rodriguez
Yolanda Rodriguez
General Counsel
O'Neill Properties Group

She is responsible for restructuring leases of multiple office and retail tenants and maximizing recoveries for O'Neill...  |  Read More

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