Casualty under a Lease; Feeling the Burn
Despite the numerous provisions in a typical office lease that are triggered by the occurrence of a building fire or other casualty, rarely do attorneys have the "opportunity" to counsel their landlord clients on the operation of these provisions after an actual casualty. When they do, their clients will be impressed (or dismayed) by the interrelatedness among clauses governing insurance, restoration, the character of leasehold improvements, force majeure, and other issues. (Read more)
This article by Stuart Kaplan, partner at Blank Rome, is one in a series of articles written for Blank Rome Real Estate's quarterly Foundation newsletter. To view the other articles in the August 2016 edition of Foundation, please click here.