TELESEMINAR: Subleasing and Assignments, Part 1 – A National Perspective
June 25, 2013
12:00 – 1:00 p.m.
1.00 MCLE hours
Subleasing commercial office and retail space is an increasingly common alternative for tenants who want to downsize the space they have leased and reduce their financial obligations. Subleases allow tenants to retain the space they need while avoiding the risks and liability of trying to renegotiate the underlying master lease with the landlord. But subleases as documents are very complex. They give subtenants rights vis-à-vis the tenant, but they must conform with the underlying master lease and generally cannot increase the obligations of the landlord. Subleases must also anticipate default – by the landlord, by the tenant or by the subtenant – and define remedies. This program will provide you with a practical guide to reviewing, drafting and negotiating subleases with an emphasis on allocation of risk and liability. Part 1 of 2.
- Drafting and negotiating subleases and assignments of leases
- Understanding the differences between subleases v. assignments
- Types of subleases – straight lease without reference to master lease, incorporation by reference, custom-made sublease
- Motivations and risks of tenants and subtenants in subleasing
- Landlord and lender concerns in subleases
Mark A. Senn, Senn Visciano Canges P.C., Colorado
Richard R. Goldberg, Ballard Spahr, LLP, Pennsylvania