06/24/2020
This Article is based on information available as of June 22, 2020. The information is subject to change as additional guidance is provided. NOTE—This article updates the information in the following Articles previously published: Paycheck Protection Program Under the Coronavirus Aid, Relief and Economic Security Act, March 31, 2020 SBA Issues Interim Final Rule for… Read more »
06/24/2020
This Article is based on information available as of June 18, 2020. The information is subject to change as additional guidance is provided. In mid-May the SBA published the PPP Loan Forgiveness Application (SBA Form 3508). Following the Paycheck Protection Program Flexibility Act of 2020 becoming law, the SBA published two new PPP Loan Forgiveness… Read more »
06/19/2020
The COVID-19 crisis has significantly impacted the ability of parties to satisfy their respective obligations under their commercial leases. As mentioned in Part 1 of this series, many parties are discovering that the language of force majeure clauses often lacks the specificity to adequately address this unique situation. Part 2 of this series explores the… Read more »
06/19/2020
In the current COVID-19 crisis, attorneys are receiving numerous questions from landlords and tenants, as to their respective contractual obligations under their commercial leases. Tenants are carefully analyzing the provisions of the lease to determine if any provisions therein could excuse or delay performance, particularly as it relates to the obligation to pay rent. This… Read more »
06/16/2020
On June 15, 2020, the United States Supreme Court officially declared that LGBTQ persons are protected from discharge or discipline because of sex under the anti-discrimination provisions of Title VII of the Civil Rights Act of 1964. The Court’s landmark decision came as somewhat of a surprise considering that the Court’s current conservative majority was… Read more »
06/10/2020
The so-called “zone of reasonableness” standard has been long applied by federal courts and boards of contract appeals in evaluating contract interpretation when the contract is deemed ambiguous – meaning that it is susceptible to more than one reasonable interpretation. Ambiguity does not exist merely because the parties differ in their respective interpretations of the… Read more »
06/08/2020
This Article is based on information available as of June 11, 2020. The information is subject to change as additional guidance is provided. NOTE—The Paycheck Protection Program Flexibility Act of 2020 amends the CARES Act, and this Article updates the information in the following Articles previously published: Paycheck Protection Program Under the Coronavirus Aid, Relief… Read more »
06/04/2020
In the current COVID-19 environment, many borrowers are asking whether the government will grant borrowers any relief from payment obligations under their commercial loans. There is a general reluctance of governmental authorities to interfere with private contracts, which would include most loan documents. Accordingly, loan payments are contractual obligations for which borrowers will generally remain… Read more »
06/04/2020
How do I get my commercial real estate transaction closed in the COVID-19 environment? Many transactions are at a standstill, particularly if lenders are overwhelmed or are having difficulty underwriting loans with economic conditions in a state of flux. However, for those deals past the due diligence period and near closing, it may be possible… Read more »
06/04/2020
When parties enter into a contract, they generally intend to follow the terms of a contract. However, sometimes, whether unintentionally or by mistake, inevitably, a party to a contract may breach a term of their contract by failing to follow through on a contractual obligation. Some breaches may be inconsequential and easily remedied, while some… Read more »
