Rent Acceleration Clauses Are Powerful, But Limited In NY
Law360, New York (March 10, 2017, 1:36 PM EST) -- Eric D. Sherman
Meghan E. Hill It is not uncommon for a commercial lease in New York to contain a "rent acceleration clause," which can provide expedited relief for a landlord after the termination of the lease due to the tenant's uncured default. Indeed, although not part of the Real Estate Board of New York standard form of lease, such provisions are becoming more commonplace. Recently, however, New York courts have begun to scrutinize the enforceability, scope and effect of such clauses. In light of that trend towards greater scrutiny, parties negotiating commercial leases should consider avoiding provisions that permit the...
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