Turnkey Build-Outs
January 31, 2016
A tenant's ability to finance its leasehold improvements is an important negotiated term of a retail lease. In an arrangement often referred to as a "turnkey" build-out, the landlord delivers the keys for a completed premises to the tenant when the construction of both the base building and the tenant-specific improvements are complete.
A Cure By Any Other Name
January 31, 2016
Section 1123 (a)(5)(G) of the Bankruptcy Code provides that, "[n]otwithstanding any otherwise applicable nonbankruptcy law, a plan shall ' provide adequate means for the plan's implementation, such as ' curing or waiving of any default." But what, exactly, does it mean to cure a default?
A Cure By Any Other Name
January 31, 2016
Section 1123 (a)(5)(G) of the Bankruptcy Code provides that, "[n]otwithstanding any otherwise applicable nonbankruptcy law, a plan shall ' provide adequate means for the plan's implementation, such as ' curing or waiving of any default." But what, exactly, does it mean to cure a default?
Measurement Standards in Commercial Leases and the Right to Remeasure
December 31, 2015
Establishing and understanding the standard for measuring rentable space is a foundation needed when negotiating commercial real estate leases. This article briefly describes the methods used to measure the rentable area for office, retail and industrial leases and suggests sample lease language for both landlords and tenants.
<b><i>In the Spotlight:</i></b> Restaurant Leasing
December 31, 2015
Restaurant lease agreements represent a highly unique subcategory in commercial leasing. This article highlights a variety of lease provisions that are particularly germane to restaurant tenants.
Chapter 11 Plans of Reorganization and Equipment Lessors
December 31, 2015
Filing Chapter 11 is a very expensive proposition these days. The filing fees, coupled with the astronomical attorneys' and special litigation counsels' fees, plus the accountants' fees, are just a few of the expenses for a debtor-in-possession ("DIP"). So what does this mean for us as equipment lessors?
New FASB/IASB Lease Accounting Rules to Be Issued Soon
December 31, 2015
The IASB and the FASB have completed decision-making meetings and the respective staffs are drafting the final rules, which will be signed and issued this month. The IASB and FASB will issue separate rules as they have chosen two different models for lessee accounting. They both have adopted the same lessor model with a few minor differences.
