Structuring Landlord Lien Waivers and Collateral Access Agreements: Navigating Competing Interests of Tenant's Lender and Landlord

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


Conducted on Tuesday, August 15, 2017
Recorded event now available


This CLE webinar will discuss the perspectives of both the tenant’s lender and the landlord with respect to the tenant’s collateralized property on the landlord’s premises. The program will look at the competing interests of the parties and provide practical suggestions for structuring and negotiating landlord lien waivers and collateral access agreements.

Description

When a lender finances a tenant’s business using the tenant’s property as collateral, the lender, or equipment lessor, must ensure it has first rights to the tenant’s collateral if the tenant defaults on the loan. Thus, the lender will require the landlord to execute a lien waiver and/or a collateral access agreement.

Why are landlord lien waivers needed? In many states, landlords are granted liens against some of the tenant’s property. Even in non-lien states, landlords also have remedies for arrears of rent that may subject the tenant’s property to a judgment lien.

Thus, for the same reason that a landlord’s lender requires the tenant to subordinate its lease to the lender’s mortgage by executing an SNDA, the tenant’s lender will require the landlord’s subordination to its interests.

Collateral access agreements assure that the tenant’s lender has rights to access the collateral located on the landlord’s property and that the collateral will be preserved if the tenant defaults on the loan and the lender forecloses.

Listen as our authoritative panel of real estate practitioners discusses the competing interests of the tenant’s lender and the landlord with respect to the tenant’s collateralized property on the landlord’s premises. The panel will provide practical suggestions for structuring and negotiating landlord lien waivers and collateral access agreements from both the lender and the landlord perspectives.

Outline

  1. Overview of state laws granting landlords liens on tenant property
  2. Other landlord rights to tenant’s property in event of lease default or abandoned property
  3. Lender interests and negotiating points for lien waivers and collateral access agreements
  4. Landlord interests and negotiating points for lien waivers and collateral access agreements

Benefits

The panel will review these and other key issues:

  • What are the lender’s concerns and negotiating points for the landlord lien waiver?
  • What protections and limitations should the landlord seek in exchange for granting the lien waiver?
  • What are the negotiating points in the collateral access agreement for both the landlord and secured lender with respect to handling the defaulted tenant’s property?

Faculty

Andrea Campbell Davison, Esq., Shareholder
Bean Kinney & Korman, Arlington, Va.

Ms. Davison practices in the areas of bankruptcy, creditors' rights and financial restructuring. She regularly represents secured and unsecured creditors, national and regional banks, asset purchasers, commercial landlords and tenants, and various other parties in a wide range of bankruptcy matters. Ms. Davison also counsels lending institutions and other clients in commercial loan transactions, and has performed title and survey review and other diligence in the sale, acquisition or leasing of commercial real estate.

John G. Kelly, Shareholder
Bean Kinney & Korman, Arlington, Va.

Mr. Kelly focuses his practice on general corporate law and real property law, including commercial real estate leasing, financing and acquisitions, and business M&As. With respect to leasing, Mr. Kelly represents both landlords and tenants nationwide in substantial office, retail, industrial and government leasing transactions. His lending experience includes representing both lenders and borrowers in complex financial transactions secured by real or personal property.


Recordings

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*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

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CLE On-Demand Video $297.00

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Program Materials

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Program Materials

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CLE Credits

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Customer Reviews

The order of the presentation was good and helpful and discussion of key concepts was excellent.

Richard Maloney

GRMS

I appreciated that there was a great deal of current case law on the subject and the speakers were concise and informative.

Thomas G. Mancuso

Haskell Slaughter

Length was ideal and the topic was timely. Excellent!

Jeanette Henderson

University of Washington

The topic was timely and relevant.

Jayna Lamar

Maynard Cooper & Gale

The speakers were very knowledgable and engaging.

Jeff Miller

Hawks Bay

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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

Counsel

Sugar Felsenthal Grais & Hammer

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

Pillsbury Winthrop Shaw Pittman

or call 1-800-926-7926

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