Total Credits: 1 CLE
As extreme weather becomes more common, landlords and tenants are spending more time with overlooked lease provisions on weather-related damage. When a weather or other “Act of God” event occurs, the tenants often have a wider array of remedies, including sometimes termination of the lease, and landlord’s see their risk (and thereby their costs) increase substantially. As the probability of these events become less than trivial, it’s important reassess whether “boiler-plate” provisions still make economic and risk-management sense. This program will provide you with a real-world guide to drafting and reviewing weather-related and other force majeure provisions in commercial leases.
Schedule:
• Intricacies of force majeure clauses in leases
• Termination rights – triggers for landlords and tenants
• Economic concessions – rent abatement and other financial considerations
• Duty of landlord to restore, rights of tenant to access property & construction issues
• Practical, timely and cost-effective assertion of rights
Richard R. Goldberg is a retired partner, resident in the Philadelphia office of Ballard Spahr, LLP, where he established an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as vice president and associate general counsel of The Rouse Company for 23 years. He is past president of the American College of Real Estate Lawyers, past chair of the Anglo-American Real Property Institute, and past chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute.
