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Mother Nature & Leases: Drafting Issues to Protect Against Storm & Other Damage
March 21, 2023 @ 12:00 pm - 1:00 pm
As extreme weather becomes more common, landlords and tenants are spending more time with overlooked lease provisions on weather-related damage. When a weather or other “Act of God” event occurs, the tenants often have a wider array of remedies, including sometimes termination of the lease, and landlord’s see their risk (and thereby their costs) increase substantially. As the probability of these events become less than trivial, it’s important reassess whether “boiler-plate” provisions still make economic and risk-management sense. This program will provide you with a real-world guide to drafting and reviewing weather-related and other force majeure provisions in commercial leases.
Handout Materials will be emailed to you prior to the seminar
1.0 MCLE Credit Hour
- Intricacies of force majeure clauses in leases
- Termination rights – triggers for landlords and tenants
- Economic concessions – rent abatement and other financial considerations
- Duty of landlord to restore, rights of tenant to access property & construction issues
- Practical, timely and cost-effective assertion of rights
Richard R. Goldberg, Ballard Spahr, LLP – Philadelphia. Pennsylvania