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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Thursday, May 1, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE webinar will closely examine assignment and permitted transfer provisions in commercial leases. The panel will discuss key differences between these provisions and under what circumstances they should be used. The panel will also offer negotiation and drafting considerations for landlords and tenants.

Faculty

John G. Kelly
Shareholder
Bean Kinney & Korman, PC

Mr. Kelly focuses his practice on general corporate law and real property law, including commercial real estate leasing, financing and acquisitions, and business mergers and acquisitions. With respect to leasing, he represents both landlords and tenants nationwide in substantial office, retail, industrial and government leasing transactions. Mr. Kelly serves on the Board of Editors of Commercial Leasing Law & Strategy, a national publication. He has also served as a featured guest on real estate leasing topics on Commercial Real Estate Radio. Mr. Kelly’s lending experience includes representing both lenders and borrowers in complex financial transactions secured by real or personal property, including the negotiation of the initial loan documents and advising with respect to workout strategies and foreclosures.

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John P. Williams
Shareholder
Bean Kinney & Korman, PC

Mr. Williams practices in the areas of corporate law and real estate transactions. He helps businesses and business owners with complex transactions, including drafting and negotiating partnership agreements, investment agreements, and real estate development contracts. Mr. Williams’ clients include developers, contractors, architects, engineers, and private lenders. He has an extensive background in strategically guiding his clients through acquisitions, sales, corporate governance, and real estate transactions and unique experience advising on all phases of development projects (acquisition, design, financing, construction, leasing, and sale).

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Description

Some of the most heavily negotiated provisions in a commercial lease are those related to assignment and transfer. Assignment provisions provide a potential exit strategy for the tenant while offering the landlord the ability to maintain a revenue stream as the property continues to be occupied. Most commercial leases require landlord consent for a tenant to assign a lease, subject to defined criteria and obligations on both parties.

Permitted transfers, on the other hand, often allow the tenant greater flexibility in transferring its lease without landlord consent. Generally, permitted transfers are allowed under narrow circumstances and often depend on the tenant's financial well-being and purpose for the transfer.

Counsel should understand the key differences between assignments and permitted transfers as well as the pros and cons of each to best protect their clients' interests during the lease negotiation process and for potential changes in circumstances during the lifetime of the lease.

Listen as our expert panel provides an in-depth look at assignments and permitted transfers in commercial leases. The panel will discuss key differences between these provisions and under what circumstances permitted transfer language should be included in the lease. The panel will also offer best practices for negotiation and drafting for landlords and tenants.

Outline

  1. Introduction: the importance of assignment and transfer provisions
  2. Assignment provisions
    1. Purpose
    2. Key requirements
    3. Landlord considerations
    4. Tenant considerations
  3. Permitted transfer provisions
    1. Purpose
    2. Key requirements
    3. Landlord considerations
    4. Tenant considerations
  4. Best practices for negotiation and drafting
  5. Practitioner takeaways

Benefits

The panel will review these and other important considerations:

  • Why are assignment and transfer provisions some of the most heavily negotiated in commercial leases?
  • What key requirements should be included in an assignment provision? Permitted transfer clause?
  • Under what circumstances should counsel consider including a permitted transfer clause in the commercial lease?
  • When drafting assignment and transfer clauses, what are unique considerations for landlords? For tenants?