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Alienation of Tenants' Rights: Factors to Consider to Make a Ground Lease Financeable
To truly understand one's own position, it is best to walk a mile in another's shoes. This is the starting place to reveal the secrets to drafting a financeable ground lease. If the tenant can understand the leasehold mortgagee's concerns and how they integrate with the landlord's converging interests, the battle is already half won. This article suggests some tips to consider in the negotiation of the provisions of a ground lease that will be the center of attention for the leasehold mortgagee. These tips should help to smooth the way for the tenant's leasehold financing by an institutional mortgagee. By adopting an approach that acknowledges the reasonable concerns of a current or future lender, the tenant will be better positioned to avoid protracted negotiations and redrafting.
Term of Ground Lease
Most parties are quick to acknowledge that the term of the ground lease must be coterminous with the debt, but that does not get all of the parties to their comfort zones. The leasehold mortgagee will likely be intent on having a safety net in the event that the leasehold mortgagee takes the tenant's interest in the ground lease. When dealing with an existing mortgage or simultaneous mortgage negotiations, it is wise to provide for a reasonable time buffer following the stated term of the mortgage, to enable the leasehold mortgagee to obtain the full principal and interest on the loan.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?