Why Attend?
This program will cover:
- The most important terms to cover in letters of intent
- The components of rent and additional rent (common area maintenance, taxes, insurance) and what may be attacked
- Due diligence to determine the condition of the rental premises
- Trends and reasoning behind limiting the initial term and extensions of the lease
- Identifying and resolving all permitting issues prior to execution
- Use restrictions demanded by a landlord and non-competition elements of a commercial lease
- Cost of the responsibilities regarding utilities
- Default events and remedies
- What can happen if the lease is not terminated, but the premises repossessed
- Negotiating for early termination or liability structuring
- Rights and subsequent obligations in assignments or subleases
- Negotiating landlord’s work and tenant’s work
- Using security deposits to reduce liability
- Differences between the guaranty, a suretyship, letters of credit, and corporate bonds for security options
- Common terms and methods in purchase options; and the advisability of securing the right to recording a short form memorandum of lease
Learn the complexities surrounding commercial leasing contracts, including the practical aspects of navigating those complexities and avoiding traps for the unwary in such transactions. Attendees will obtain an overview of the structure of commercial leases and the key issues to be negotiated on behalf of clients seeking to lease commercial space.
Most commercial leases initially are structured in a manner that imposes very onerous and one-sided terms upon the tenant, including the creation of events of default for relatively minor breaches, allowing for the placement of liens on the tenant’s personal property in the event of such default, and making the tenant personally liable for the entire accelerated rent due under the lease. The program presenter will identify the essential points that affect the liability of the tenant and guarantors and explain strategies for negotiating various limitations on the liability of commercial tenants.
Learn how to spot the most common areas of controversy in commercial leases, including but not limited to common area maintenance charges, landlord’s right to relocate tenant, and liability of tenant in the event of damage to the property.
| Registration Deadlines: |
| Webcast: |
10 minutes prior to seminar. If you register for a webcast the day of the seminar, your e-mail receipt will include a link to launch the seminar and download the materials. |
| Telephone: |
Online registration ends at 11:59 p.m. the day preceding the seminar
Call (800) 979-8253 to register up to one hour prior to the seminar |
Cancellation Policy: Cancellation/transfer requests will be honored until 5:00 p.m. the day preceding the seminar. You will, however, be charged $40 if you cancel or transfer your registration to a different seminar after the link to the materials has been e-mailed by Virginia CLE.
Full refunds or transfers are available up to two days after a webcast in the unlikely event that you experience technical difficulties.
MCLE Credit Caveat: The MCLE Board measures credits by the time you spend in attendance. If you enter a seminar late or leave it early, or both, you must reflect those adjustments accurately in the credits you report on your credit reporting form. A code will be given at the end of the seminar, which must be written on your MCLE form.
Can't Attend? E-mail
distance_ed@vacle.org to be notified when/if this program is made available as an On Demand or USB seminar.
E-mail
publications@vacle.org to be notified when/if this program's seminar materials are made available for sale.