As discussed in our prior alert on
General Leasing/Rent Concerns, due to the economic impact of
the COVID-19 crisis we anticipate that commercial real estate
tenants will increasingly request or demand that their landlords
grant relief in the form of rent abatements or deferrals or other
lease modifications. Depending on the particular tenant's needs
and the proposed terms, a modification may make sense for both
landlord and tenant. In considering any such request, however, a
landlord should take certain precautions, including (a) reviewing
its existing mortgage loan documents and any subordination,
non-disturbance and attornment agreement ("SNDA") entered
into between the applicable tenant and mortgage lender, and (b)
considering whether to condition any discussions with a tenant upon
the execution of a confidentiality agreement, to ensure that such
discussions are not disclosed to third parties (including other
tenants of the building), and/or a pre-negotiation
