Clark Hill Attorneys Paul S. Magy and Joshua M. Farber to Present at International Council of Shopping Centers Retail Development and Law Symposium in Columbus Ohio February 28, 2014
Magy will be co-presenting on the subject: “Lease Defaults and Remedies: Is the Answer in the Lease or Is It Pistols at Dawn? Despite a drafter’s best efforts, a lease’s remedy provisions may not provide the ideal remedy for a real-world or even unexpected default situation or occurrence. In addition to the standard “Tenant Default” provisions (and the less prevalent “Landlord Default” provisions), a retail lease may contain any number of stated remedies for particular Tenant or Landlord defaults. Legal counsel must give serious thought to negotiating into the lease (leverage depending…) the client’s ideal remedies for any number of situations that may put the client in a bad spot. Otherwise, they may find themselves combing through a lease to locate provisions that may or may not give them the best leverage or means for enforcement in a particular default scenario, or even a situation where the other party is not “in default” but has simply failed to deliver on an agreed upon condition (for example, failure to satisfy co-tenancy). Participants will be presented with hypothetical lease default scenarios and will be asked to consider—from both a landlord and tenant perspective— which provisions of the lease are best suited to enforce, or defend, a lease default? or, absent stated remedy provisions, what clause or clauses would be best suited to be included in the lease? Participants will also evaluate common lease provisions to determine whether they provide solutions, or perhaps more difficulties, in enforcing lease obligations, and how these common provisions might be improved.
Farber will be presenting on the subject: “Delivery, Possession and Commencement Dates: Making Sense of It All,” discussing the complexities of timing and the obligations of the shopping center landlord and the retailer tenant in varying development settings.
Magy is a member of Clark Hill's Real Estate Practice Group. His extensive commercial real estate experience includes acquisition, development, finance, zoning, leasing and sale of commercial real estate, in addition to litigation related to those areas, including receiverships, distressed assets and retailer bankruptcy. Paul also has a substantial amount of experience representing all forms of commercial property owners, developers, property managers and brokers.
Farber is a Member in the Pittsburgh office of Clark Hill | Thorp Reed. His practice focuses primarily in the area of real estate law. He assists clients in the acquisition, sale, leasing and development of real property, including office and retail buildings, shopping centers, manufacturing facilities, apartment complexes, mixed-use developments and planned communities. Farber represents real estate companies in tax assessment appeals, realty transfer tax planning and land use and zoning matters. He regularly counsels landlords and tenants in lease disputes. He works extensively with private real estate funds in their organization, capital raises and ongoing operations. Farber also advises both property owners and energy companies in the sale, leasing, and assignment of mineral rights. He lectures frequently on various aspects of real estate law. He is a graduate of Swarthmore College (B.A. 2002) and the University of Pittsburgh School of Law (J.D. 2005).