It’s time to turn words into action to hit your net zero commitments.
Watch this event to learn:
What the 10 principles are, why they matter for your real estate and how they can be implemented
What leading companies are doing to accelerate their path to net zero
Why you should be looking at your Return on Sustainability and how you can achieve the best return
Why partnerships can support companies and drive innovation in the collective move to net zero
Sustainable cities start with sustainable buildings. To address the urgency of climate change, JLL and the World Economic Forum have developed the Green Buildings Principles that simplify the process of delivering net zero carbon portfolios. This webinar will demystify complex sustainability issues facing companies today, identify practical steps based on the 10 Green Buildings Principles to support your net zero journey and explore how these can be implemented into your corporate sustainability program.
Watch Now
While federal law largely shields lenders from environmental liabilities and cleanup costs on indebted properties, lender missteps and poor loan documentation can result in a loss of that protection and put lenders on the hook for environmental remediation.
Environmental hazards can also negatively impact a borrower's ability to repay the loan and decrease the collateral value, which is why it is essential to uncover the hazards before the closing of the loan and formulate a plan, whether a Phase I environmental site assessment or some lesser action.
A critical protection for the lender is an indemnification agreement with the borrower as part of the loan documentation. Other key loan agreement provisions include reps and warranties, covenants, notice provisions, and inspection rights. Another option for the lender is to require the borrower to obtain insurance, usually in a pollution policy.
Lender environmental due diligence at the time of a loan default or workout is also critical as environmental hazards must be considered when assessing the collateral value and a workout plan. Of course, if foreclosure appears imminent, the lender liability must be carefully evaluated as the lender prepares to take possession of the property.
Listen as our authoritative panel of experienced attorneys analyzes lender liability for environmental cleanup and remediation liabilities. The panel will discuss theories of liability and best practices for lenders to minimize direct liability and diminution of the collateral value. The panel will address risk mitigation in loan origination and during the life of the loan, including workouts and foreclosures.
Watch Now
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.
Watch Now
Join us for this webinar on green building and sustainability hosted by Drexel University. It will feature highlights on urban green energy initiatives from two top practitioners: Jeffrey Beard, Associate Clinical Professor, Engineering Leadership and Society with Drexel University and former President/CEO of Design-Build Institute of America, along with Matt Stern, Senior Director, Commercial Programs with the Philadelphia Energy Authority.
Watch Now