Negotiating and Drafting Commercial Leases

Blank Rome partner Ira L. Herman authored Chapter 28, titled “Bankruptcy,” in Negotiating and Drafting Commercial Leases (2022, Full Court Press). The book offers a practical roadmap through the entire negotiation process, and reviews the clauses of a typical complex modern lease in detail, with explanation and commentary, examining the legal, economic, and financial accounting ramifications.

In his chapter, Mr. Herman discusses:

  • The Bankruptcy Code and Rules: An Overview
  • Principal Code Sections and Rules Applicable to Commercial Leasing Transactions
  • Leases and Contracts: The Effect of Bankruptcy
  • Assumption and Its Effects on Landlords and Tenants
  • Rejection and Its Effect on Landlords and Tenants
  • Bankruptcy Risks Associated with Prefiling Date Lease Restructuring and Termination Agreements
  • Sample Bankruptcy Clause
  • Bankruptcy Definitions and Terms of Art
  • What to Do When a Petition Is Filed by a Tenant
  • Bankruptcy Code Amendments to Section 365

To read the full chapter, please click here.

To learn more about Negotiating and Drafting Commercial Leases, or to purchase a copy, please click here.