Electronic Chattel Paper
October 02, 2015
One of the significant benefits bestowed upon chattel paper financers is the ability to perfect a security interest via possession, and in so doing potentially achieve priority over pre-existing secured lenders who perfected by filing a UCC Financing Statement. Now, the system is moving toward electronic chattel paper. What does this mean?
<b<<i>In the Spotlight:</i></b> Cumulative CAM Caps
September 02, 2015
There is a knee-jerk reaction from many tenants to avoid cumulative CAM caps, but the rationale and policies behind them are reasonable, and both the parties should be able to satisfy their concerns with some variation of a cumulative CAM cap.
Supreme Court to Focus Legal Spotlight on Spousal Guaranty Issues
September 02, 2015
Spousal guaranties are about to receive additional scrutiny now that the United States Supreme Court has decided to grant certiorari to a decision by the Eighth Circuit regarding whether a spousal guarantor is an "applicant" entitled to bring an action under the Equal Credit Opportunity Act and related implementing regulation (Regulation B).
Guaranty of Leases
September 02, 2015
As a condition to entering into a new lease, landlords often require a guaranty of lease from a personal or corporate guarantor in connection with those tenant entities that do not have either a high enough net worth or annual revenue, or for whatever other reasons do not meet the landlord's financial criteria.
'Customary Operations' or a Vacant Building?
September 02, 2015
Many times, courts are faced with the question of whether a loss location is "vacant" under a commercial property policy when trying to determine if the building owner or lessee is conducting customary operations. This article explores various decisions across the United States addressing what is considered "customary operations," thereby rendering the property "vacant.
Auto-Renewals and the True Lease Question
September 02, 2015
Outside of bankruptcy, if the rights of a lessor against a lessee in default are to be enforced, there is a very material difference in the rights and obligations of both parties depending upon whether the UCC Article to be applied is Article 2A governing true leases or Article 9 governing secured transactions.
How Do You Know When Your Loss Ensues?
August 02, 2015
This two-part article provides an overall review of ensuing loss provisions and their application by courts across the United States. In Part One, we discussed, among other things, Specific Exclusions. This month, we continue the discussion about Faulty Workmanship Exclusions.
