Common use of Powers of leasing Clause in Contracts

Powers of leasing. 11.1 Prohibition on Exercise of Powers by a Company Following an Event of Default which is subsisting, each Company shall neither exercise the powers of leasing or accepting surrenders of leases conferred upon a mortgagor in possession by Sections 99 and 100 of the LPA nor any other powers of leasing, surrendering or accepting surrenders of leases vested in such Company nor shall such Company confer on any Person any contractual licence to occupy or any other right or interest in any of its property or grant any licence or consent to assign, underlet or part with possession or occupation of the whole or any part of them without the prior written consent of the Security Trustee and in granting its consent the Security Trustee shall be entitled to require that an order be obtained under Section 38(4) of the Landlord and Xxxxxx Xxx 0000 excluding the security of tenure provisions of that Act as a pre-condition to the granting of any lease.

Powers of leasing. 11.1 Prohibition on Exercise of Powers by a Company Following an Event of Default which is subsisting, each Company shall neither exercise the powers of leasing or accepting surrenders of leases conferred upon a mortgagor in possession by Sections 99 and 100 of the LPA nor any other powers of leasing, surrendering or accepting surrenders of leases vested in such Company nor shall such Company confer on any Person any contractual licence to occupy or any other right or interest in any of its property or grant any licence or consent to assign, underlet or part with possession or occupation of the whole or any part of them without the prior written consent of the Security Trustee and in granting its consent the Security Trustee shall be entitled to require that an order be obtained under Section 38(4) of the Landlord and Xxxxxx Xxx 0000 Tenant Act 1954 excluding the security of tenure provisions of that Act as a pre-condition to the granting of any lease.