Contract Risk Management for Airport Agreements (2016) / Chapter Skim
Currently Skimming:
Pages 17-22
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 17... ...
17 A The City [Owner]
|
From page 18... ...
18 licensees, etc.)
|
From page 19... ...
19 consideration the creditworthiness of tenants and may adjust charges and required security and insurance accordingly based on their analysis of the risk. In such analysis, when allowed by applicable law, airports may allow self-insurance of certain risks in a given circumstance, such as when the tenant/user is a governmental entity or has an extremely high net worth or when the tenant has a significant investment in on-airport improvements that will vest in the airport.
|
From page 20... ...
20 provide that if the tenant takes possession, it is deemed to have accepted the premises "as is." The agreement should also address general obligations for security and compliance with laws and other obligations imposed by FAA or others having jurisdiction over the premises. Example/Sample Provision The following is an example of how a tenant's buildout due diligence obligations may be addressed to mitigate risk in a tenant/user agreement: Within thirty (30)
|
From page 21... ...
21 reletting; and (iii) to the payment of rentals, fees, and charges due and unpaid hereunder.
|
From page 22... ...
22 Methods to Contractually Mitigate Risk The following are key issues to consider when drafting or reviewing a contractual provision related to hazardous materials: • Tenants will usually seek to limit liability to matters caused by the tenant during the term of the lease. The lease should have language to establish the baseline environmental condition at the commencement of the lease and the condition upon expiration or earlier termination of the lease.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.