Around the Firms
October 01, 2003
Attorney movement among major law firms and corporations.
The Leasing Hotline
October 01, 2003
Highlights of the latest commercial leasing cases from around the country.
'As Is' Deals: What Do the Parties Really Mean?
October 01, 2003
In today's competitive commercial real estate market, landlords and tenants spend much time and effort to structure lease transactions to add value to their respective portfolios. They each factor into their economic analysis relevant concerns such as rent, construction costs, construction build-out periods, operating expenses and revenue forecasts. An additional factor that should be considered in this process is the cost incurred by both parties to administer the lease obligations during the lease term for ongoing maintenance, repair and replacement items.
Methods for Securing Against Tenant Defaults
October 01, 2003
Security deposits are an age-old form of security for the performance of the tenant's obligations under a lease. In the simplest of transactions, the tenant deposits a fund with the landlord to be used to protect the landlord against the economic consequences of a tenant's default. The amount of the fund is the product of negotiations and usually involves a multiple of the monthly rent payable under the lease. In more sophisticated commercial transactions with other than the most creditworthy of tenants, the landlord wants the tenant to deposit a substantial sum, perhaps a multiple of the yearly rent payable under the lease, especially if the landlord pays for substantial tenant improvements. <p><i>Part Two of a Two-Part Series</i>
In the Spotlight: Agreement to Agree, Enforceable?
October 01, 2003
Recently, the Court of Special Appeals of Maryland held that a letter of intent was binding on the parties. <i>Windsor Development, L.L.C. v. Clearcomm Technologies, Inc., No. 999 (Md.App. filed Aug. 5, 2002).</i> The court granted a summary judgment motion enforcing the provisions of the letter of intent relying on the "plain and unambiguous" language.
The Unfriendly California Skies: Avoiding Sales/Use Tax on Aircraft Purchases
October 01, 2003
Imagine getting slapped with a $100,000 past-due tax bill from the state of California several years after you purchased an aircraft, and you don't even live in that state. Think it can't happen? Better think again, as this type of scenario plays out with increasing frequency as California grapples with perennial budget shortages.
In the Marketplace
October 01, 2003
Highlights of the latest equipment leasing news from around the country.
