Who Eats the Delta: Cost Escalation in the Work Letter
Construction input costs are up 7.1% year over year. The provision that decides who absorbs that is a two-page exhibit at the back of the lease that most negotiations treat as an afterthought.
Leasing
The One-Way Ratchet: Operating Expense Clauses When Insurance Prices Fall
For eight years the operating expense clause did one job: move rising insurance premiums from landlord to tenant. Premiums are now falling, and the clause does not run in reverse.
Condition or Covenant: The Power Clause in Data Center Leases
The most valuable sentence in a data center lease is the one about electricity. Whether it is a condition or a promise decides who eats a two-year delay.