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In light of recent events, are there any particular issues to be aware of in negotiating a new office space lease?
Under many typical form leases, commercial tenants are obligated to continue paying rent (and other expenses) even when prevented from operating their businesses for reasons beyond their control, unless the landlord was at fault. Your new lease should specifically allow the tenant to terminate the lease, at no additional cost, if its ability to operate is not restored within a fixed period of time. Depending on your relative leverage, you may also be able to obtain some abatement of rent during the period of interruption. Finally, your lease should clearly and consistently allocate responsibility for maintenance, repair and compliance with law obligations, particularly high-cost items.
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