Commercial real estate borrowers and mortgagors formed as Delaware limited liability companies (“LLCs”) should be aware of new loan requirements after recent amendments to Delaware’s LLC Act. The LLC Act amendment, which became effective in August 2018, allows Delaware LLCs to be divided into one or more newly formed Delaware LLCs and allocate assets and […]
What Would You Do if Your Family Business’ Property Were Contaminated
Does your family business own a piece of property that may be contaminated? We often hear clients say they do not want to know the answer to that question because they will be forced to do something about it. We disagree with that approach because you can’t make a good business decision about your potentially-contaminated […]
Negotiating Commercial Lease Surrender Provisions
Most tenants who have just signed a lease are looking to the future. They understand their obligation to pay rent and expenses and expect that during the term of the lease they will have continued access to the premises for the period of time covered by the lease. Often, they will be improving the premises […]
How to Negotiate a Tenant Improvement Allowance
Congratulations. Accelerating sales have driven your young company toward an important crossroad. You need more space. You have found a commercial location that satisfies all your requirements and now you are getting ready to sign a lease. Remember to plan ahead so you can negotiate a tenant improvement allowance that will satisfy your needs. Here […]
Important Lease Provisions for Growing Companies
You set out with an idea. You raised funding to nourish it and built a team to drive it to market. At an early point in your growth you arrive at a milestone: the need for more space. It is an affirming mark of your progress but, it brings with it a complex set of […]