fmc-law.com RSS Feeds - Publications - Leasinghttp://www.fmc-law.com/upload_net/rss/en/Real_Estate_Commercial_Leasing.xmlThu, 31 May 2012 10:01:35 GMTen-us5Sonja K. Homenuck and Michael Toshakovski co-authored the article "Good, Better, Best: The Consequences of Agreeing to Use Best Efforts in a Commercial Lease" published in British Columbia Real Estate Law Developments. Parties negotiating a lease often negotiate the standard that must be met when fulfilling their contractual obligations. But what does it mean to use “commercially reasonable efforts” or “reasonable efforts” or “best efforts” and the like? Exactly what these competing standards entail is often a source of confusion for both the parties and their lawyers. Further complicating the matter is the question of when a party to a contract is entitled to reduce or stop making the required efforts. This article will report on a recent case that discusses both the level and duration of effort required. This article includes discussion on the following: Diamond Robinson Building Ltd. v. Conn Facts The Meaning of “Best Efforts” The Landlord’s Continuing Obligations Republished with permission. Read more by clicking the download button.http://www.fmc-law.com/Publications/0412_Good_Better_Best_Consequences_Commercial_Lease.aspxMon, 23 Apr 2012 06:00:00 GMThttp://www.fmc-law.com/Publications/0412_Good_Better_Best_Consequences_Commercial_Lease.aspxIn this issue of Focus on Real Estate, the following items are discussed: Good, Better, Best: The Consequences of Agreeing to Use Best Efforts in a Commercial Lease Legal Fallout from Falling Glass Toronto’s New Downtown Tall Buildings Guidelines Read more by clicking the download button.http://www.fmc-law.com/Publications/0412_Focus_on_Real_Estate.aspxWed, 11 Apr 2012 06:00:00 GMThttp://www.fmc-law.com/Publications/0412_Focus_on_Real_Estate.aspxIn order for an option to renew or extend to be enforceable (as opposed to being a mere “agreement to agree”, which is unenforceable at law), there are two required elements: (1) a formula or reference standard to fix the new rent; and (2) procedural machinery to determine the new rent in the event that the parties don’t agree (i.e. an ADR process). The formula or reference standard should specify the valuation date for the rent determination, whether it is for a restricted or unrestricted use (e.g. “market rent for a financial institution” vs. “market rent”), and any geographic restrictions (e.g. the plaza/complex, within a particular radius of the subject location, within a specified city). This paper was written for the Law Society of Upper Canada's Six-Minute Commercial Leasing Lawyer program, Feb 15, 2012. Read more by clicking the download button.http://www.fmc-law.com/Publications/0212_Simplifying_Arbitration_Process_Renewal_Extension_Rent.aspxThu, 16 Feb 2012 07:00:00 GMThttp://www.fmc-law.com/Publications/0212_Simplifying_Arbitration_Process_Renewal_Extension_Rent.aspxIn this issue of Focus on Real Estate, the following items are discussed: Landlord’s and Tenant’s Liability for Improvements under the Construction Lien Act Reasonable Wear and Tear: Why You Should Care Are You Charging Too Much Interest? Recent Highlights for the National Real Estate Group at FMC Seven New Lawyers Join the Real Estate Group Read more by clicking the download button.http://www.fmc-law.com/Publications/1111_Focus_on_Real_Estate.aspxTue, 29 Nov 2011 07:00:00 GMThttp://www.fmc-law.com/Publications/1111_Focus_on_Real_Estate.aspxFor an option to renew or extend to be enforceable (as opposed to being a mere “agreement to agree,” which is unenforceable at law), the option must include both a formula or reference standard and machinery to determine the rent during the renewal/extension term. Binding arbitration is the typical “machinery” used to determine the rent during the extension term in the event that negotiations between the landlord and tenant fail to produce an agreement within a stipulated period. Reprinted by permission of Carswell, a division of Thomson Reuters Canada Limited. Read more by clicking the download button.http://www.fmc-law.com/Publications/1211_Binding_arbitration_common_determining_renewal.aspxThu, 01 Sep 2011 06:00:00 GMThttp://www.fmc-law.com/Publications/1211_Binding_arbitration_common_determining_renewal.aspxIn this issue of Focus on Real Estate, the following items are discussed: Repeal of Toronto’s Harmonized Zoning By-law Recent Case Law Confirms the Heavy Burden on Developers to Strictly Comply with REDMA Obligations to Amend and Deliver Disclosure Statements when there is a Change in a Material Fact Commercial Real Estate Joint Ventures Are Not All Created Equally Read more by clicking the download button.http://www.fmc-law.com/Publications/0611_Focus_On_Real_Estate.aspxMon, 20 Jun 2011 06:00:00 GMThttp://www.fmc-law.com/Publications/0611_Focus_On_Real_Estate.aspx