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Product ID: 390933EAU
 
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Landlord Waiver Document Considerations

OnDemand Webinar (88 minutes)

This OnDemand Webinar is intended to provide a practical guide to the issues that arise in the context in which a tenant is obtaining financing from a lender after having executed a real estate lease and the lender requires that the landlord execute a landlord waiver as one of the required loan documents. This program will include a practical nuts and bolts discussion of the elements of a landlord waiver, an analysis of the competing interests and perspectives of the three parties involved in this process (the landlord, the tenant and the tenant's lender). It will also include sample provisions from actual landlord waiver documents in order to highlight the issues that are often raised in this process and to provide you with the framework for successfully negotiating these types of documents in a practical and cost-effective manner. The program will also include a discussion of alternative structures which are proposed by tenants and other parties including assignments of the tenant's lease.

Authors

Matthew P. Doring, Hinckley, Allen & Snyder LLP
David J. Tracy, Hinckley, Allen & Snyder LLP

Agenda

Essential Elements of a Landlord Waiver

• Nature of Underlying Real Estate Lease: Office, Medical Office, Retail, Restaurant, Other Leases and Subordination or Waiver of the Landlord's 'Lien'

• Scope of the Collateral and Scope of the Waiver

• Lender's Access to Collateral and Cure Rights

Landlord Waiver Issues From the Landlord's Perspective

• Matching the Waiver Documentation to the Transaction

• Avoidance of Relinquishing Any Claim or Interest in the Tenant's Assets

• Recognition of Prior Lien Rights of Lender - Practical Considerations

Landlord's Remedies vs. Lender Remedies

• Landlord's Remedies for Tenant's Default

• Termination of the Lease

• Lender's Obligation to Pay Rent

• Timing Issues

Landlord Waivers - Tenant's and Lender's Perspective

• Lease Provisions

• Making the Deal

• Managing Lender Requirements/Expectations

• Bottom Line Requirements of Lender

• Wish List Items for Lender

• Practical Considerations

Sample Provisions From Landlord's Waiver Documentation and Alternative Approaches

• Common Provisions

• Problematic Provisions

• Areas of Compromise and Drafting Solutions

• Alternative Approaches (Including Collateral Assignments and Franchisor Agreements)

Additional Lender Considerations

• Concerns: Validity of Lease, Lien Priority, Financial Exposure to Landlord

• Common Provisions: Required Terms, Areas of Compromise