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I never use them as a reader, and many times when under the gun I’ve had a TOC issue crop up when adding a new section or something… but I usually do have them, although more out of inertia than actual usefulness for me (I.e., if the precedent has one I’ll update it and use it)
I remove them when I have control over a first draft of a doc. They’re useful if you’re doing like an REA or something where you’re gonna reference it in 10 years, but like a PSA? Pointless.
Define “long.” I always have them in commercial leases and purchase and sale agreements.
Personally, I never use them as a reader - so I don’t spend the time putting them into agreements I draft.
I won’t create one of the document doesn’t already have one, but my base form has one and I keep it updated on every turn.
There is another reason to do it, but of course, since I was a bankruptcy litigator in a former life, why I always advocated for it even in a PSA. If the deal falls apart and you have to litigate over it, it can make it much easier for the court to navigate the document you’re fighting over.
Always in a lease. It gets referenced many times over the years. Often far longer than anticipated due to renewals. It saves so much time doing lease review whether for a particular point in a dispute or as DD for a sale of the property.
I tend not to use them in PSA’s as they are usually a lot easier to navigate and don’t typically get referenced more than a few months after drafting, but I don’t have a problem with it.
I really cannot understand the reasoning behind comments that you’d delete a TOC from the document when it comes in. That will just piss off the other side.