When I was a young commercial real estate attorney, a senior partner shared the adage, “Time kills all deals.”
I was working on a large commercial lease transaction for a tenant client for premises in a new office building owned by Russian investors. The lease was out for final approval when Russia invaded Ukraine.
Based on an assessment of reputational risk, my client terminated the transaction. If the lease had been completed sooner it would have been executed. T.K.A.D.
Other clusters of T.K.A.D occurred in the aftermath of the failure of Lehman Brothers in 2008 and after 9/11.