NEW LEASE ON DISCLAIMER, ETC Sample Clauses

NEW LEASE ON DISCLAIMER, ETC. 15.3:1 If the Landlord so requires, by notice in writing served on the Guarantor within four (4) months after a Termination Event, the Guarantor shall immediately take up a new lease of the Property. The terms of the new lease shall be such that, under the combination of this Lease and the new lease, the Landlord will be in the same postion (so far as can be achieved) as if the Termination Event had not occurred and the Guarantor had been the tenant under this Lease. Without prejudice to these general words, the new lease is to include the following provisions: 15.3:1.1 the term shall commence on (and shall include) the day after the date of the Termination Event and continue for the balance of the Contractual Term, and 15.3:1.2 if on the date of the Termination Event there is an outstanding rent review:
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NEW LEASE ON DISCLAIMER, ETC. 16.3.1 If the Landlord so requires by notice in writing served on the Guarantor within four (4) months after a Termination Event the Guarantor shall immediately take up a new lease of the Property. The terms of the new lease shall be such that under the combination of this Lease and the new lease the Landlord will be in the same position (so far as can be achieved) as if the Termination Event had not occurred and the Guarantor had been the tenant under this Lease. Without prejudice to these general words the new lease is to include the following provisions: 16.3.1.1 the term shall commence on (and shall include) the day after the date of the Termination Event and continue for the balance of the Contractual Term and 16.3.1.2 if on the date of the Termination Event there is an outstanding rent review: 16.3.1.2.1 the second day of the term shall be a review date (“New Lease First Review Date”) 16.3.1.2.2 for the purposes of the review of the Rent on the New Lease First Review Date (but not on any subsequent Review Date) the Open Market Rent shall be assessed as at the last Review Date in this Lease falling before the New Lease First Review Date 16.3.1.2.3 pending ascertainment of the New Rent payable from the New Lease First Review Date (in accordance with the provisions for review of the Rent) the initial rent shall be the Rent payable under this Lease immediately before the date of the Termination Event and 16.3.1.2.4 on ascertainment of the New Rent clause 15.4 shall apply and 16.3.1.3 the other terms shall be the same as the terms of this Lease with all provisions of a periodic nature including any relating to review of the Rent applying on the dates that would have applied if the Termination Event had not occurred 16.3.2 The Guarantor shall pay the Landlord’s reasonable and proper costs and expenses in connection with the grant of the new lease

Related to NEW LEASE ON DISCLAIMER, ETC

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