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Secondary Covenants Security Tenants' Performance of Lease Obligations in Canada

Apr 13, 2004 | Article 

Written by Natalie Vukovich
(Shopping Centre Legal Update, Vol. 24, Issue 1)

Last year, in the Spring issue of Legal Update, I wrote an article regarding the enforcement by landlords of letters of credit securing tenants' lease obligations. At the time, I reported on the state of the law in the Canadian common law provinces, to the effect that there was confusion over the enforceability of letters of credit following the bankruptcy of a tenant and the ensuing lease disclaimer by the tenant's bankruptcy trustee.  

Read the full article Secondary Covenants