Obermayer (Pennsylvania): COVID-19 and Your Existing and New Agreements

In our brave new world of COVID-19 driven shutdowns and (hopefully) short-term economic changes and challenges, now would be a key time to look at your agreements for deals already under way and new deals going forward.  Most everyone including developers, tenants, and landlords did not anticipate state governors shutting down portions of states and certain types of businesses due to a global pandemic.   In light of the events of last few days, basic assumptions have to be examined in the short-term at a minimum.  As this is far beyond what has been the norm, most agreements do not contemplate the effect of a global pandemic that shuts down businesses, government agencies, and slows down timing of obligations of the parties to the agreement.  Now what?

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