Given gloomy economic forecasts for 2009, we are likely to see more situations where some tenants may wish to cease operations either temporarily or permanently. Situations will arise where some tenants fail to pay rent or meet other obligations. Landlords and tenants must be aware of the legal ramifications of their next steps. This Alert sets out for landlords and tenants typical issues that arise and pitfalls to be avoided.

type Commercial Real Estate Law Alert - February 2009 - Commercial Leasing Tip Sheet: Issues That Arise When a Default Either Has or is About to Occur Under the Lease