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In the Spotlight: Considerations for Payment of a Construction Allowance
In the course of negotiating a retail lease, landlords are often requested by tenants to pay a portion of the tenant's cost of construction of the premises. The manner in which the landlord would make such a payment is commonly called a 'construction allowance,' whereby a portion of the tenant's construction cost is defrayed by a payment made by the landlord, which payment may or may not be incorporated into the rental structure that will then be owed by the tenant during the term of the lease.
Several issues arise when contemplating the payment of a construction allowance to the tenant. In particular, issues such as the manner and timing for payment of the construction allowance, documentation required for the payment, and repayment in the event of a default by the tenant, should all be considered when addressing the issue of the construction allowance in the lease. This article discusses the foregoing issues and addresses various manners in which these issues can be dealt with in the lease.
Manner and Timing of Payment
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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?