Surety to accept new lease upon disclaimer Sample Clauses

Surety to accept new lease upon disclaimer. 3.1 If this Lease is determined by re-entry by the Landlord or is effectively determined by disclaimer the Surety will if the Landlord by notice within three months after the date of determination so requires take from the Landlord a lease of the Premises 3.2 The lease to be granted to the Surety under Clause [3.1] is to be on the following terms:- 3.2.1 the term is to commence on the date of termination of this Lease and to be equal to the residue of the Term which would have remained unexpired at that date if this Lease had not been terminated 3.2.2 the yearly rent is to be the same as would have been payable under this Lease if it had continued undetermined and if a rent review operative from a review date before the grant of the Lease had not been completed the Surety will complete the rent review with the Landlord as if it had been the Tenant under this Lease in order to establish the commencing yearly rent under the Lease 3.2.3 the Lease is otherwise to be on the same terms and conditions as would have applied under this Lease if it had continued undetermined and 3.2.4 the Surety is to succeed to the rights and assume the liability of the Tenant under this Lease as if the Lease had continued undetermined
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Surety to accept new lease upon disclaimer. If a liquidator or trustee in bankruptcy of the Tenant shall disclaim this Lease the Surety will, if the Landlord shall by notice within three months after such disclaimer so require, take from the Landlord a lease of the Demised Premises for a term commensurate with the residue of the Term which would have remained had there been no disclaimer at the same rents and subject to the same covenants and conditions as are reserved by and contained in this Lease (with the exception of this clause) such lease to take effect from the date of the disclaimer and in such case the Surety shall pay the costs of such new lease and execute and deliver to the Landlord a counterpart of the new lease.
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Surety to accept new lease upon disclaimer. If a liquidator or trustee in bankruptcy of the Tenant shall disclaim this Lease (or if the Tenant shall be wound up or cease to exist) the Surety will if the Landlord shall by notice within three months after such disclaimer (or other event putting an end to the effect of this Lease as aforesaid) so require take from the Landlord a lease of the Demised Premises for a term commensurate with the residue of the Term which would have remained had there been no disclaimer (or if this Lease had continued to have had effect as aforesaid) at the same rents (after giving effect to any review of rent or any later or latest review of rent) and subject to the same covenants provisos provisions and conditions as are reserved by and contained in this Lease (including the provisions for review of the yearly rent reserved by this Lease) such lease to take effect from the date of the disclaimer (or of this Lease ceasing to have effect as aforesaid) and in such case the Surety shall pay the costs of and accept such new lease and execute and deliver to the Landlord a counterpart of the new lease PROVIDED ALWAYS THAT if the Landlord shall not require the Surety to accept the said new Lease the Surety shall nevertheless upon demand pay to the Landlord a sum equal to the rent that would have been payable under this Lease but for the disclaimer in respect of the period from the date of such disclaimer until the expiration of the period of twelve months from it or until the Demised Premises shall have been re-let by the Landlord (whichever shall first occur)
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Related to Surety to accept new lease upon disclaimer

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