Negotiating Exclusive Use and Restrictive Covenant Provisions in Office and Retail Leases

Balancing Competing Interests and Protecting Rights of Both Landlords and Tenants

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

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Conducted on Thursday, April 2, 2015

Recorded event now available

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Course Materials

This CLE course will address the drafting and negotiation of restrictive covenants and exclusive use provisions in office and retail leases, best practices to protect landlord and tenant interests, and recent case law developments in the enforcement of these provisions.

Description

Restrictive covenants and exclusive use provisions are contentious issues in lease negotiations and are frequently litigated. Negotiating these clauses requires a careful balancing of the landlord’s need for flexibility in obtaining future tenants against the tenant’s right to minimize competition.

One of the toughest hurdles in drafting and negotiating restrictive covenants and restrictive use provisions is defining a competitor, which is often more challenging in office commercial leases than retail leases. Another challenge is signage rights and restrictions since signage exclusivity can restrict the landlord’s ability to attract future tenants.  

Restrictive use and covenants are generally strictly construed by courts, making them difficult to enforce. The outcome of litigation will depend on the specific lease language. Thus, careful and precise drafting of these provisions is critical.

Listen as our authoritative panel of real estate practitioners guides you through the process of drafting and negotiating restrictive covenants and exclusive use provisions in office and retail leases and how to protect the interests and rights of both landlords and tenants. The panel will also discuss recent case law on enforcement of these provisions.

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Outline

  1. Restrictive covenants
  2. Exclusive use provisions
  3. Signage rights
  4. Remedies and damages
  5. Recent case law developments

Benefits

The panel will review these and other key issues:

  • How do exclusive use and restrictive covenants differ between retail and commercial leases?
  • How can a signage restriction become a de facto leasing restriction?
  • What guidance does case law and practical experience provide on the drafting of enforceable restrictive covenants and exclusive use provisions?

Faculty

Weber, Scott
Scott L. Weber
Partner
McGuireWoods

Mr. Weber's practice consists of representing clients engaged in the sale, acquisition, development, financing...  |  Read More

Pittman, Edmund
Edmund S. Pittman
Partner
McGuireWoods

Mr. Pittman has extensive experience with transactions involving the acquisition, disposition, development,...  |  Read More

Chase, Lindsey
Lindsey D. Chase
Counsel
McGuireWoods

Ms. Chase's  practice focuses on the acquisition, disposition, financing and leasing of commercial real...  |  Read More

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