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Issues can arise in the context of additional rent reconciliations that occur pursuant to the provisions of a commercial lease. We examine herein specific concerns from both landlord and tenant perspectives relating to over- and under-payments of rent, improper charges, supporting documentation and auditing procedures, as well as potential bars to claiming recoveries.
In particular, we discuss the following issues: 1) The additional rent reconciliation process and thoughts on the interpretation of annual statements; 2) Matters relating to access, disclosure and audit rights and accompanying drafting considerations; and 3) Timing issues for recovery or overcharged or undercharged amounts in the context of the Limitations Act, S.O. 2002, c. 24 Sch. B (the LA) and the Real Property Limitations Act, R.S.O. 1990, c. L.15 (the RPLA).
Operating Costs and Reconciliation Statements
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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.
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In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?