A Cotenancy Agreement in a shopping center lease allows a tenant to reduce rent, decrease payments for common area maintenance, or terminate the lease if other named tenants cease operations, also known as 'going dark'.
The term 'Go Dark' refers to the situation where a retail tenant ceases its operations in a leased space, while potentially continuing to pay rent. This can impact the viability and appeal of a shopping center as the absence of an anchor tenant may lead to a decrease in customer foot traffic and potentially cause other tenants to relocate or terminate their leases.
