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Tag: commercial lease

ASSIGNMENTS OF LEASES, RENTS, NON DISTURBANCE AND ATTORNMENT: An Introduction

Leases and tenancies of a secured property are of great interest to a commercial lender for the following reasons:1. The borrower could pay the debt from the rent obtained from the tenant;2. For valuation of the property based upon a cap rate, the rent could be used as the basis;3. The rent would determine whether or not the borrower could liquidate the property to repay the debt or get replacement financing to repay the debt, namely the voluntary exit strategy;4. It would also indicate whether or not the lender could liquidate the property using mortgage remedies to repay the debt or could sell security to another lender, namely the involuntary exit strategy;

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COMMERCIAL LEASING: Rooftop Solar Panels

Rooftop Solar PanelsA number of landlords, owners, and tenants have recently received inquiries from rooftop solar panel installers desirous of installing solar panels on their roofs. In principle, the idea of encouraging green initiatives sounds like a good one. However, in circumstances in which the owner is not the end user of the building (it has a tenant) or is thinking of selling the building, further consideration may be required before entering into licences for solar panels.

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COMMERCIAL LEASING: Careful Consideration of Clauses

Renewals and Extensions are quite important in C. L., as can be seen from the case histories below.Saskatchewan Ltd. v. NelsonIn this case, a lease was taken by the former landlord and the tenant for a term commencing in March 2001, and ending February 2006.The lease had an option to renew for one further period of five years on the same terms and conditions as existing with the exception of annual rent, which was to be agreed between the parties. In 2005,

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COMMERCIAL LEASING: All About Zoning, Renewals, and Extensions

Zoning Disputes concerning the Smartcentres have been in the spotlight for much of this past year, illustrating the significant hurdles developers face when seeking approval for a large scale, primarily retail development. The cases have shown that proposals for large scale retail developments from now on must take into account policy directives developed under a municipality’

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COMMERCIAL LEASING: All About Transfers

Involvements of matters relating to assignments are substantial in commercial leasing, as will be seen in this part of our ongoing series.Transfers In respect to assignments, important developments have taken place. This is due to the fact that courts are unwilling to permit landlords to terminate a lease when a request for a transfer is made without providing an opportunity for the tenant to withdraw its request.

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COMMERCIAL LEASING: Past, Precedent, and Future

In the third part of our review of trends in Canadian commercial law, several interesting cases are discussed.Canadian Western Bank v. 702348 Alberta Ltd.This case highlights the aspects examined by the court when parties to a lease fail to meet their fundamental obligations. Two organizations, Telecommunications Research Laboratories (“TRL”) and Alberta Treasury Branch (“ATB”) wanted to terminate their commercial leases

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COMMERCIAL LEASING: Fundamental Breach and Exclusion Clauses

The second instalment in our review of the emerging trends in commercial lease jurisprudence is evident in the lawsuit relating to HREIT Holdings 45 Corp. v. R.A.S. Food Services (Kenora) Inc., where the court held that the new Landlord had lost its right to collect a higher amount of rent due to two reasons: 1) It’s conduct ; and/or 2) It was estopped on the basis of equity.While operating a restaurant in the complex in 1999, the tenant got the previous landlord to agree to waive the increase in basic rent for years 6-10 of the lease. The leased premises changed hands in 2005, and the purchaser became the landlord.

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COMMERCIAL LEASING: The Reality about Realty Taxes

It would appear from the papers reviewed so far in this series that the emphasis was on Commercial Law jurisprudence. There are instances, however, where matters such as property taxes were considered.Realty TaxesA new regime of property tax assessment, known as fair market assessment, was introduced in 1998. Prior to that, commercial tenants received separate assessments regarding their contributions to the building’s property

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COMMERCIAL LEASING: How the Court Applies Equitable Remedies

There have been some interesting developments in commercial leasing law over the last year, among which can be seen important trends in commercial leasing jurisprudence.Equitable RemediesIt has been found in the past year that the courts will make every effort to use equitable remedies in circumstances where strict contractual interpretation leads to absurd commercial

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BUSINESS SENSE: Commercial Lease Enforcement & Remedies

The lease enforcement or implementation of the agreement between the landlord and the tenant should be deliberately followed to avoid any conflict and discussion. However, there are instances when the agreement will be defaulted and the remedies or solutions will be taken into consideration. Basically, the purpose of every lease agreement is to ensure a joint benefit for both landlord and tenant. 

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