I’m a member of the Restaurant Advisory Group (TRAG) which focuses on advising restaurants on a variety of business and legal issues. On May 5, 2016 the group is offering a presentation on leases: Understanding What you are Signing in A Lease – The Good, The Bad, The Ugly Clauses, Tenant and Landlord Perspective. The event is from 9 a.m. to 11 a.m. at the Petroleum Club in Long Beach.
The agenda for the event:
The lease is one of the most important assets of your business. Hence, we will be addressing various problematic clauses and solutions. We start with an example of a letter of intent (LOI)/Proposal to lease, and will discuss the following:
- Letter of Intent/Proposal to Lease.
- Clauses to be addressed;
- Assignment and Sublease Clause including options – pros and cons,
- Personal guarantee
- Assignor of lease – legal responsibilities
- Options are personal and non-transferable
- What is fair market rent at time of exercising option
- Can not unreasonably be withheld – terminology
- Percentage clauses,
- Fixed rate vs CPI increase
- How to avoid % clause
- Property sold – how does it impact tenant and how to handle
- Use clause,
- Permitted or exclusive use
- Operation clause –
- Hours of operation
- Abatement of rent when lead tenant vacates Center
- Association/Merchant fees
There is no charge for readers of the Employment Law Report to attend. You can register here. Please contact me if you have any questions, and hope you can join us.