Extend Performance Time for Lease Obligations
Like some often-overlooked provisions in commercial leases, a “force majeure” clause is a protection for tenants that ideally won’t be utilized. But, if you have to call on that clause, you’ll be happy if you spent the time and effort to negotiate and draft one that serves your needs. The concept of “force majeure” is regularly misunderstood as applying mainly to unforeseen events such as weather disasters that could affect a tenant’s space. But force majeure applies to multiple situations that interfere with office or shopping center space.