Common use of LEASING AND SURRENDERS Clause in Contracts

LEASING AND SURRENDERS. The statutory powers of leasing and accepting surrenders conferred upon the Security Trustee by the Law of Property Xxx 0000 shall be extended so as to authorise the Security Trustee to lease, make agreements for leases at a premium or otherwise, accept surrenders of leases and grant options or vary or reduce any sum payable under any leases or tenancy agreements as the Security Trustee thinks fit without the need to comply with any of the provisions of Sections 99 and 100 of such Act.