Enacted by Congress in 1930 and revised in 1984, the Perishable Agriculture Commodities Act (PACA) protects sellers of perishable agricultural commodities, defined as “fresh fruits and fresh vegetables of every kind and character whether or not frozen or packed in ice, and cherries in brine as defined by the Secretary of Agriculture” by subjecting a “merchant, dealer or broker” of perishable produce to a trust on the proceeds on the sale of perishable produce, and products derived from that produce, for the benefit of all unpaid suppliers and sellers (a “PACA Lien”).
Leases often form the start of a long term relationship between a landlord and tenant. This dynamic is much more critical in the life sciences context, and the process of lease negotiation and implementation requires integration and cooperation between the landlord and tenant teams. The lease creates a roadmap for what can be a very long tenancy, and needs to be carefully thought through and negotiated.
Due to the higher capital infrastructure required for life sciences companies, lease terms are typically longer than other types of leases and the motivation to renew in place is much higher, so having a good underlying lease is critical. The following outline some of the commonly negotiated areas in life sciences leases: Continue Reading The Life Sciences Lease: A Marathon, Not a Sprint
We are seeing more and more of our clients branching out into international markets. My partner, Dawn Saunders, wrote an interesting article about navigating international leasing transactions and the importance of having experienced international leasing counsel review these transactions. For example, experienced U.S. based attorneys have vetted and worked with local counsel. Additionally, they understanding key differences like how local contracts differ from contracts in the U.S. and how risk is assessed.