Category: Project Lenders

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SNDAs – How to Handle from the Tenant’s Perspective

At some point, almost every tenant of a commercial lease is asked to sign a Subordination, Non-Disturbance and Attornment Agreement (an “SNDA”). Generally, the SNDA comes from the landlord’s lender sometime after the tenant’s lease has been signed and the term has commenced. It can be a complex document with onerous provisions for a tenant, … Continue Reading

Nevada Lenders Beware! Mechanic’s Liens Not Easily Avoided

Following the market crash in 2008-09, the $2.8 billion Fontainebleau development in Las Vegas was halted with 70 percent of the construction completed. Naturally, numerous mechanic’s liens were filed by contractors, subcontractors, professionals and suppliers ("claimants"). In the bankruptcy proceeding, the lenders asserted novel and potentially legally destabilizing theories against the claimants’ rights: a.) the … Continue Reading

A sign of hope: rental car garage at Sea-Tac to proceed

Puget Sound Business Journal reported this week that the Port of Seattle has announced that it will re-commence work on its 23-acre, $419 million dollar rental car facility at Seattle-Tacoma International Airport.  The project was put on hold in December 2008 due to the anemic long-term bond market.  According to the Port, it has now … Continue Reading

May a Contractor Sue the Owner’s Lender?

When disputes arise between an owner and its lender, and the lender, for any number of reasons, stops funding a project, the question of whether the contractor can sue the lender sometimes arises. The theory often advanced is that the lender knew the contractor had started work and, if it did not intend to advance the … Continue Reading