Norris McLaughlin & Marcus, P.A.

Blogs > NJ Real Estate Dispute

commercial lease

Nov 02, 2011

How A Letter of Credit Can Facilitate Commercial Lease Deals

A Letter of Credit (“LOC”) is simply an agreement from a bank guaranteeing that Party A’s payment to Party B will be received on time and for the correct amount.  LOC’s are used primarily in sizeable international trade transactions, i.e., a supplier in one country and a customer in another.  LOC’s, however, can also be useful, and are regularly employed, in long-term commercial lease situations.  » Read More

Feb 21, 2011

The Need for Exit Strategies in Your Commercial Lease

In good times and in not so good times, a well drafted and negotiated commercial lease will contain various exit strategies available to the landlord and tenant. These strategies will come in handy in situations where a tenant’s business is booming causing it to grow out of its current space (good times) or where the space is too big or expensive for the tenant to continue because business has dropped off considerably (not so good times).» Read More

Nov 22, 2010

Beware of the Ordinary Wear & Tear Clause in a Commercial Lease

Many landlords and tenants, when negotiating a commercial lease, fail to appreciate the implications of incorporating certain “standard” provisions into the lease. Many unfortunately take comfort in boilerplate language that either of the parties (usually the landlord) used in prior leases. While such an approach may make for an uncomplicated lease drafting process (assuming the tenant is of the same mind), it could prove ultimately to be a rather expensive approach to managing the leasing process once the term ends and disputes arise over the condition in which the tenant has left the premises.» Read More

Subscribe

Name
Email *