Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Form commercial lease language usually gives the landlord the option of terminating the lease OR terminating the tenant’s right to possession after a tenant default. Generally, if a landlord terminates the lease, this cuts off his damages at the date of termination. So, if landlord terminates the lease on January 1, 2013 and the lease …
Continue reading “Commercial Lease Acceleration: Termination of Possession vs. Termination of Lease”
The boilerplate “excess rent” or “rent differential” clause appears in many commercial leases. Usually buried in a voluminous lease, no one pays much attention to it until the tenant vacates and the landlord sues for damages. All of a sudden, the excess rent clause assumes critical importance as the landlord tries to prove up its damages. The rent differential/excess …