Real Attachments: An In-Depth Look at Commercial Lease Exhibits

Originally held on Wednesday, January 24, 2018 | 6:00 pm – 8:00 pm

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Program Moderator:

Jo-Ann H. Whitehorn
Deputy General Counsel and Vice President
TF Cornerstone Inc.

  • This program will explore key issues and case law developments and include model forms and clauses which will help new and experienced lawyers learn how to make better use of the common exhibits to commercial leases in NYC and beyond. Subordination, Estoppel, Non-Disturbance and Attornment Agreements (SNDAs), Guaranties (Good Guy and others), Work Letters and other key documents will be discussed. There can be significant financial and operational issues buried in these documents, which shape lease arrangements more than one might expect, given the scant attention they often receive. The goal of the presentation is to enable both the general practitioner and the more experienced real estate practitioner to advance their client’s interests through this often-neglected, but rich area of leasing.

    OnDemand: $149 Member | $249 Nonmember

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  • James M. Carolan
    Zukerman Gore Brandeis & Crossman, LLP

    Edward C. Kang
    Edward C. Kang LLC

    Jeffrey A. Margolis
    The Margolis Law Firm

    Jason T. Polevoy
    Patterson Belknap Webb & Tyler LLP

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  • 6:00 pm – 6:05 pm Introduction & Overview
    Jo-Ann H. Whitehorn
    6:05 pm – 6:35 pm (Especially Good Guy) Guaranties

    • Key issues, market expectations, common pitfalls for landlords & tenatns in guaranties, especially “good guy” guaranties

    Jeffrey Margolis
    6:35 pm – 7:05 pm Work Letters

    • An examination of the cost & risk allocations implicit in the design and construction provisions of work letters.
    • What to spell-out, and what to leave to future elaboration.
    • How to involve the construction and design professionals in the process.

    James M. Carolan
    7:05 pm – 7:20 pm SNDAs

    • Issues for lenders, landlords & tenants raised by subordination, non-disturbance and attornment agreements.
    • Exploration of what is critical to each & why.

    Edward C. Kang
    7:20 pm – 7:35 pm Letters of Credit & other Forms of Security

    • Letters of credit & other forms of security are critical protection for landlords, but a large source of exposure for tenants.
    • What are reasonable positions for both on issues such as the amount, form, burn down & triggers for recovery?

    Jason T. Polevoy
    7:35 pm – 7:50 pm Miscellany: Estoppels, Memoranda of Lease, Commencement Date Letters, etc.

    • A look at some common ways to improve these agreements.
    • A discussion of what they can & can’t do for the various parties.

    James M. Carolan
    7:50 pm – 8:00 pm Q&A
    Panel

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  • NY: 2.0 skills
    NJ: 2.4 general
    CA: 2.0 general
    PA: 2.0 general

    Please Note: Newly admitted NY attorneys cannot fulfill ethics or skills credits through our on-demand programs under OCA rules. For more information on this, please see http://www.nycourts.gov/attorneys/cle/changes_for_2016.shtml

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  • Sponsoring Association Committee:
    Real Property, Jason T. Polevoy, Chair

    Sponsorship Opportunities are Available! Please Contact:
    Maricela Alfonso, Membership and CLE Relations Associate
    (212) 382-6608
    MAlfonso@nycbar.org

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