DESCRIPTION
Landlords (and their lenders) want nothing more than certainty in the stream of rental payments from tenants. When risks are involved – because of the profile of the tenant or the nature of its operations – landlords seek to offset the risk through higher rents and protective provisions in leases. Those provisions may include restrictions on usage, insurance requirements, more thoroughgoing inspections or other restrictions. This program will provide you with a guide to drafting and negotiating leases when a landlord has a risky tenant, with an emphasis on offsetting or compensation for that additional risk.
- Drafting protections for landlords when tenants pose legal or operational risks – including cannabis businesses
- Identifying points of potential liability – financial and otherwise – for landlords
- Drafting scope of tenant use to permit activity but limit landlord risk
- Economic issues – rent, guarantees, insurance, supplemental payments, escrow
- Termination provisions – when can the landlord pull the plug?
Speaker:
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology. Mr. Licata received his B.S., summa cum laude, from MacMurray College and his J.D., cum laude, from Harvard Law School.
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.