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A recent decision by the Ontario Superior Court provides some clarification on the strict nature of a time is of the essence clause in an agreement of purchase and sale. In Fortress Carlyle Peter S...
Written by Natalie Vukovich
(LSUC- Six-Minute Commercial Leasing Lawyer)
A typical commercial net lease requires the tenant to maintain (1) property insurance in respect of the premises, the leasehold improvements and all other property in the premises, (2) business interruption insurance to ensure its ability to operate when the premises are damaged, and (3) liability coverage to protect against claims arising from the tenant's conduct/operations at the property.
Read the full article How To Structure And Draft Self-Insurance Provisions
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