Tuesday, February 10, 2004

PRACTICAL REALITY Here's some advice for you. If a lease, by it's terms, does not require the consent of the landlord to assignment, don't make it a condition to closing. Especially if you are 20 years into a 40 year term. Don't you think that the landlord may be a little pissed about his lack of foresight back in 1984 when he didn't include yearly rent increases? That's really what we need to do -- give the landlord leverage that he'd have never had by telling him we need his signature to close our deal and get our money.

I don't care how material the lease is, he can't terminate it because you assigned it if the lease clearly allows assignment.



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