Learn about the key issues with commercial lease assignments and subletting.
It is fair to say that a broker and a tenant's attorney may be judged by how well the lease addresses the tenant's critical need for a realistic and flexible exit strategy. It is impossible to predict the floor space required for the efficient conduct of a tenant’s business from year to year, and yet tenants routinely enter into five or ten year leases. Although there are draconian ways to 'exit' a lease, such as a straight lease default or entering into bankruptcy, the much better solution is to negotiate and draft a fair and effective assignment and subletting provision that addresses the concerns of the landlord, tenant and the lender. In this topic, you will be led through the legal and business aspects of assignment and subletting on an issue-by-issue basis.The presenters of this content will explain how to successfully wrestle to a fair conclusion the many thorny issues surrounding assignment and subletting. Their recommended language and tactical negotiation suggestions are supplemented by fully negotiated examples of assignment and subletting lease language and collateral documentation, including landlord's consent.
Agenda
Faculty
Andrew L. Herz
Patterson Belknap Webb & Tyler LLP
- Of Counsel with Patterson Belknap Webb & Tyler LLP
- Former chair of New York State Bar Association’s and American College of Real Estate Lawyer’s Commercial Leasing Committees and co-chair of American Bar Association’s Office Leasing Committee
- Chambers USA cites him as a key member of our highly rated real estate department and says clients describe him as “an incredible leasing lawyer, probably the best in the city in terms of leasing”
- Adjunct professor at Brooklyn Law School and formerly at Vanderbilt Law School for real estate transactions courses
- Advisory Board member and presenter at Georgetown Advanced Commercial Leasing Institute for the past 11 years
- 2016 recipient of New York State Bar Association’s Real Property Law Section Professionalism Award
- Can be contacted at 212-336-2910 or [email protected]
Richard C. Mallory
Allen Matkins Leck Gamble Mallory & Natsis LLP
- Partner resident in the San Francisco and Los Angeles offices of Allen Matkins Leck Gamble Mallory & Natsis LLP
- Practice emphasizes all aspects of office, industrial and retail leases
- Frequent local and national speaker and has written articles on the subject of commercial leasing
- Listed as a leading lawyer in California real estate in Chambers & Partners USA, 1999 to 2016
- Listed as a Top 100 Northern California attorneys, 2006 and 2009 to 2013
- Listed in The Best Lawyers in America in the field of real estate law, 1989 to 2016
- Member, advisory board, Georgetown Law Center's Advanced Commercial Leasing Institute
- Fellow, American College of Real Estate Lawyers
- Member, Stanford Real Estate Council
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