Commentary: California Supreme Court upholds cotenancy clause in retail lease as providing alternative rent structure
Cotenancy clauses afford rent relief where another key tenant in a retail center ceases operating. They typically provide that a tenant is not obligated to pay full base rent, but rather some form of alternative rent amount (e.g., at a reduced rate or based on a percentage of actual sales) when specified anchor tenants or a percentage of key tenants are not open and operating, or when a minimum gross leasable area in a shopping center is not open.
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