The challenges and uncertainties faced by many commercial tenants during the COVID-19 pandemic have led parties to spend more time and attention on lease provisions relating to termination. In Part 3 of their series "Leasing After COVID," Ann Ryan and Adrienne Koch examine two types of termination provisions that have received particular attention in recent months: co-tenancy and gross sales “kick-out” provisions.
December 14, 2021 at 10:00 AM
8 minute read
“Contracts are like hearts, they’re made to be broken,” says a smirking Michael Keaton, playing Ray Kroc in the movie The Founder. As many tenants discovered during the COVID-19 pandemic, this philosophy is not true of commercial leases. Unless the lease specifically gives the tenant a right to terminate, the tenant cannot simply walk away from its lease without risking substantial liability.
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