Articles by Karen E. Abrams

8 Biggest Mistakes Made by Transactional Attorneys that Prevent Them from “Getting the Deal Done”

Getting the Deal Done take personal negotiating skills. The same mistakes are made over and over and over again, by first year associates, more experienced associates, and even by partners – mistakes that accomplish nothing other than creating a more adversarial relationship and delaying the deal from completion. Here are eight common mistakes and how to avoid them.

• Published: March 29, 2010
• General Interest

Memorandum of Lease Clause: No More Significant than the Gender Clause??

A Memorandum of Lease or Short Form Lease (MOL) is usually a very short document (one to five pages in length, on average, depending on the complexity of the lease and the jurisdiction of the premises). The MOL typically contains only the most critical, but not confidential, provisions of a lease (e.g., a description of the premises; the term of the lease, including renewal rights; right[s] of first refusal; exclusive use clauses; etc.). A MOL is recorded wherever deeds are recorded, and the recording fees are typically paid either by the party designated in the lease, or, if not so designated, by the party requesting the MOL. Depending on the jurisdiction, the costs to record a MOL can be nominal or quite large.

• Published: January 17, 2010
• Real Property Law

Exclusive Use Clauses

When a retail tenant signs a lease, it does so with the intention of operating a particular business. In order to be successful, a tenant needs to maintain a competitive advantage over other tenants in the same center. With this in mind, many commercial retail leases include a very thorny and hotly-negotiated provision, called the “exclusive use” clause. The inclusion of an exclusive use clause, or a decision not to do so, is a critical issue, and is one that is commonly glossed over by the parties.

• Published: August 23, 2009
• Real Property Law

Helping Tenants Survive by Relocating or Reducing Their Space Needs: 7 Key Provisions

Tenants are struggling to survive and are doing whatever they can to cut costs. One way is to relocate to smaller, less expensive space or to reduce the size of the space they are currently leasing. Agreements to substitute or reduce space can usually be accomplished with a simple and straightforward amendment to an existing lease. Here are seven key provisions that should be included in all such lease amendments.

• Published: June 10, 2009
• Real Property Law

Retail Leasing: Start on the Right Foot With a Well-Crafted Letter of Intent

A well-crafted Letter of Intent can save a lot of headaches and heartaches and, ultimately, is a crucial step in the lease negotiation process. It gives the parties a chance to flush out, usually (and preferably) even before the lease is drafted, the most important business terms. Here are some of the most important terms to include in your letter of intent, as well as some points to consider when negotiating such terms.

• Published: August 1, 2008
• Real Property Law