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OnDemand Course

Current Issues With Subleasing

Brokers and property owners agree: In our fourth year following the subprime mortgage meltdown triggering the Great Recession, the office market has absorbed the first wave of subleases. However in most markets (excluding hot-pockets such as the tech sectors of San Francisco) the economy remains somewhat flat, and subleases are as important as ever. It is time to revisit the best subleasing practices and procedures as subtenants continue to find themselves blessed with bargaining power.

Leases are being amended to accommodate tenants who need to stay put in their spaces and new leases are being negotiated where necessary; in both cases, the tenant has an opportunity to improve its exit strategies by modifying the language of the lease as it pertains to subletting. Whether representing subtenants, sublandlords, or master landlords or their lenders, a thorough check list should be created to assure that every sublease angle has been explored, from consent to implementation. In this OnDemand Webinar we will review and analyze each subletting issue in an office and retail lease from the point of view of all of the affected parties. Equitable compromises will be suggested in order to get through the lease negotiation process; however, the subtenant's continued leverage today is real and needs to be appropriately weighed.


Runtime: 89 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Early Termination Rights

  • The Ideal Tenant Solution: Clean With No Residual Liability
  • Can Be Ideal for a Landlord With the Right Economics in Order to Land a Credit Tenant
  • The Next Best Thing: Fairly Negotiated Assignment and Subletting Rights

Consents and Implementation

  • Consent Issues From Both Sides
    • PreNegotiated Reasonable Disapprovals and Consent Forms
    • Change in Control and Increasing Security Deposit in Lieu of Consent
    • Affiliate Transfers and Nondemised Space for Business Associates
    • Collateral Assignments and Licensees
  • Implementation Issues From Both Sides
    • Release of Assignor or Guarantor and Conditions
    • Recapture Rights and Withdrawal of Request for Consent
    • Subtenant Recognition Agreements: A WinWin Proposition
    • Participation in Profits, Definitions and Timing of Payments
    • Processing Fees, Prohibited Uses and Partial Subleases
    • Tailoring Default Provisions to the Sublease and Timing of Notices
  • Lender Concerns
    • Tolerable Levels of Tenant Flexibility
    • Release and Limitation of Liability, and Creditworthiness
    • Recapture Rights and Involvement in Decision Process
    • Change of Use and Unacceptable Levels

Review of Forms

  • Sample Negotiated, Practical, Assignment and Subletting Provisions
  • Landlord Consents
  • Recognition Agreements
  • Termination and Release, and Surrender
  • Sample Negotiated, Practical, Assignment And Subletting Provisions
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on October 17, 2012.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Richard C. Mallory

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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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 390419
Published 2012
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