The allocation of risk accomplished by indemnification agreements is often a hotly negotiated term of real estate contracts and leases and, when not negotiated, frequently are not in compliance with applicable state indemnification laws or do not reflect the basis axim that liability should follow control. Unbalanced indemnification provisions frequently arise from unbalanced negotiating positions. This panel will address the nuts and bolts of indemnification agreements and insurance contracts, analyzing how indemnification agreements require one party (the indemnitor), bear the risk of claims against the other party (the indemnitee) for loss and damages claimed by a third party. The role of insurance in providing a source of funds for indemnification obligations will be addressed.
Indemnification and insurance provisions are standard requirements of PSAs, leases, and construction contracts. Standalone indemnity agreements are also frequently employed to balance the rights of a counterparty with its obligations.
Informed counsel must recognize how to protect client interests by deftly structuring indemnification provisions, taking into account state law and respective risks and control in careful drafting.
Listen as our authoritative panel discusses current trends and practical strategies in negotiating these provisions, as well as the advanced arguments made by the parties to these instruments.
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The increased transition to work-from-home has led to renewed renegotiations of office leases. Companies large and small face concerns as to obligations under their commercial leases. There are several potential solutions for both landlords and tenants.
Some businesses may consider whether office sharing or hoteling is the solution to reducing their footprint in office space. Still, co-tenants have to consider an agreement that addresses the ownership of assets and repairs of the leased property.
The parties must determine whether a proper contractual resolution is possible. Tenants positioned for a true resurgence may want to look at abatements or deferrals. Tenants subject to a true contraction may consider subleasing or assigning portions of the space or term of the lease to a new tenant.
Outside of contract, there are common law solutions if either party identifies grounds to pursue (or defend) a claim regarding the doctrines of impossibility, impracticality of purpose, or frustration of purpose.
Finally, the stakeholders must consider the context of the overarching situation when attempting negotiations. What is the current occupancy level of an office development and how will that impact negotiations? What is the financial condition of the tenant? Is bankruptcy more or less a certainty such that a deferral is simply moving a few months down the calendar?
Tenants negotiating new leases should consider language that will address rent relief if and when there is another pandemic or other health emergency that results in closures or reduced business hours or restricted occupancies.
Listen as our expert panel discusses the possibilities to negotiate and resolve lease issues landlords and tenants face in light of the current economic trends and addresses the contractual, common law, and contextual issues that come into play when trying to meet each parties' needs.
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Realvolve, Inc
Jared is a real estate coach and keynote speaker and will share:
– Why some agents will succeed in the challenging industry evolution that lies ahead
– Why mindset, grit, and customer focus overrides everything else in this industry
– The pros and cons of real estate leads
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Breakthrough Broker President, Eric Sachs and guest speaker, Jeff Lobb, Founder and CEO of SparkTank Media discuss in detail, creative strategies that can help agents focus on finding new sales opportunities and build a better funnel for listing inventory now and in the future. This power-packed session gives you the insight, the tools, and ideas that can take your listings and your business to the next level.
Here's what else you can expect from this workshop:
Unique strategies for finding more leads
Tips to build a network in your community with creative suggestions
Video marketing strategies
How to use a mobile business card to level up your networking
And much more!
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