Tag: force-majeure
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Florida’s New Law on LIBOR Reform Explained
– Libor was announced to be discontinued in 2021, with publication ceasing for certain maturities after December 31, 2021, and the remaining maturities ceasing after June 30, 2023. – The ARRC identified the SOFR as its preferred alternative rate and published recommended fallback language for new debt issuances in the U.S. – Florida introduced draft…
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Legal Concepts in the COVID-19 Era: When Plans Go Awry
– Commercial tenants seeking relief from paying rent due to pandemic-related downturns in business have turned to the equitable doctrines of frustration of purpose and impossibility. – The impossibility doctrine examines if the action to be performed in a contract was possible under the circumstances, while the frustration of purpose doctrine analyzes if the parties…