Given the disruption caused by Covid-19 pandemic, the performances under many contracts will be delayed, interrupted or even suspended. Many of the corporate tenants in commercials lease may seek to delay and/or waive the commercial rentals for the duration especially during the 21 days lockdown. This unprecedented Covid-19 has legitimately prevented them from carrying out their business. With the outbreak of Covid-19 and government lockdown, commercial property landlords and corporate tenants should carefully review the following sections of their leases in particular to identify the impact of Covid-19 and help mitigate risk: a) “Force Majeure” Provisions Effect on Rent Payment: Force majeure refers to a legal doctrine under which a party may be relieved from liability for non-performance if circumstances beyond the party’s control prevent the party from fulfilling its obligations under a contract. Force majeure provisions are standard in retail & commercial le
Equi Corp Associates (ECA) is a multispecialty law firm based in Delhi/NCR, India for providing affordable access to legal counsel benefitting start-ups, small and growing businesses, social business enterprises, impact investors and non-profit organizations. ECA boutique service offerings are primarily at the intersection of start-up, sustainable development, social enterprise and investment sectors, designed to help clients wade through laws that were not originally designed with them in mind.