In commercial lease transactions, a tenant's desire and need to occupy a space and begin transacting business often takes precedence over a landlord's ability to complete all of the bargained-for physical alterations that it has promised.
Rent Abatement Clauses: Tenants Should Speak Softly, But Draft a 'Club'
In commercial lease transactions, a tenant's desire and need to occupy a space and begin transacting business often takes precedence over a landlord's ability to complete all of the bargained-for physical alterations that it has promised. The issue of determining the diminished value of the premises prior to the completion of the landlord's work is customarily resolved through the negotiation of rent abatement provisions that quantify damages where delays in the landlord's construction would lead to a breach of contract.
By
Gary A. Goodman and Michael J. BoccioThis premium content is locked for LawJournalNewsletters subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN LawJournalNewsletters
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already have an account? Sign In Now
For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.
