Underletting. (A) Not to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in the form of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed): (i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them; (ii) at the best rent reasonably obtainable without taking a fine or premium; (iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and (iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act. (B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord: (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent); (ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and (iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed. (C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).
Appears in 3 contracts
Samples: Lease Agreement (Lecg Corp), Lease Agreement (Lecg Corp), Lease Agreement (Lecg Corp)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise Property or a Subletting Unit nor vary the terms of any underlease without the Landlord's written consent (not to be unreasonably withheld or delayed). Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than by an instrument in writing substantially the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) either:
(I) to observe and perform the Tenant's covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(II) to observe and perform the Tenant's covenants in the underlease during the term of the underlease or until released pursuant to the 1995 Act
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord's prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) in relation to any Subletting Unit Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this Lease clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Subletting Unit, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than four (4) units of occupation at any time and no more than two (2) units of occupation on a single floor (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant);
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
(ix) if the Subletting Unit comprises less than a whole floor of the Property then unless the underletting either:
(a) contains a covenant on the part of the undertenant to observe and perform the Tenant's covenants in this lease (except for payment of the rents) during the term of the underlease or untfl released pursuant to the 1995 Act; or
(b) is on terms obliging the undertenant to take a lease of the whole of the Property for the unexpired residue of the term of this lease (less one day) on the same terms as those contained in this lease (including as to rents and rent review) in the event of the immediate reversion to such underlease becoming vested in the Landlord the underlease shall contain a break exercisable by the landlord on three (3) months' notice in the event of the immediate reversion thereto becoming vested in the Landlord;
(x) the underlease is in a form approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).
Appears in 2 contracts
Samples: Lease (Immunocore LTD), Lease (Immunocore LTD)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise Property or a Subletting Unit nor vary the terms of any underlease without the Landlord’s written consent (not to be unreasonably withheld or delayed). Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than by an instrument in writing substantially the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) either:
(I) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(II) to observe and perform the Tenant’s covenants in the underlease during the term of the underlease or until released pursuant to the 1995 Act
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) in relation to any Subletting Unit Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this Lease clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Subletting Unit, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property
(vi) there shall be no more than four (4) units of occupation at any time and no more than two (2) units of occupation on a single floor (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant);
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
(ix) if the Subletting Unit comprises less than a whole floor of the Property then unless the underletting either:
(a) contains a covenant on the part of the undertenant to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(b) is on terms obliging the undertenant to take a lease of the whole of the Property for the unexpired residue of the term of this lease (less one day) on the same terms as those contained in this lease (including as to rents and rent review) in the event of the immediate reversion to such underlease becoming vested in the Landlord the underlease shall contain a break exercisable by the landlord on three (3) months’ notice in the event of the immediate reversion thereto becoming vested in the Landlord;
(x) the underlease is in a form approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).
Appears in 2 contracts
Samples: Lease (Immunocore LTD), Lease (Immunocore LTD)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Subletting Unit nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in; this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Property, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than two (2) units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant)
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
Appears in 2 contracts
Samples: Lease (Oxford Immunotec Global PLC), Lease (Oxford Immunotec Global PLC)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Subletting Unit nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Property, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than two (2) units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant)
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
Appears in 2 contracts
Samples: Lease Agreement (Oxford Immunotec Global PLC), Lease (Oxford Immunotec Global PLC)
Underletting. (Ai) Not to underlet any part of the Premises (as distinct from the whole or a Permitted Part).
(ii) Not to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Premises or a Permitted Part of the form of this Lease approved by Premises without the Landlord Landlord’s consent (such approval consent not to be unreasonably withheld or delayed):) except where the following conditions are fulfilled:
(i1) containing any underlease whether mediate or immediate must:
a. be at not less than an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) open market rent at the best rent reasonably obtainable time of grant without taking a fine or premium;
b. contain a covenant by the undertenant not to assign underlet part with possession of or share possession or occupation of the whole or any part or parts of the subdemised premises or mortgage or charge the whole or any part or parts of the subdemised premises except by way of sharing occupation with a Group Company (iiias permitted under this Lease) containing provisions for or an assignment or charge of the whole of the subdemised premises;
c. contain a covenant by the undertenant not to assign or charge the whole or a Permitted Part of the subdemised premises without the consent of the Landlord such consent not to be unreasonably withheld or delayed;
d. except as to the payment of the rent first reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable otherwise be on similar terms (mutatis mutandis) to be reviewed and upon the same principles terms of ascertainment; and
(iv) containing or having endorsed upon it an this Lease save that where the underlease contains a valid agreement excluding under section 38A of the 1954 Act to exclude the provisions of sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than Act such underlease need only otherwise be on similar terms as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease user and to observe and perform the undertenant's covenants in such underleasealterations; and
(iii) not to assign the premises underlet without the prior consent of e. be in a reasonable form approved by the Landlord under this Lease prior to its grant such consent approval not to be unreasonably withheld or delayed.
(C2) Subject any underlease must contain a valid agreement under section 38A of the 1954 Act to sub-paragraphs exclude the provisions of sections 24 to 28 of that Act in relation to that underlease; and
(A3) before the grant of any underlease the Tenant must procure a covenant from the undertenant with the Landlord to pay the rents and other sums reserved by the underlease (or if the underlease of a Permitted Part of the Premises, a fair proportion of them) and (B), observe and perform the undertenant’s covenants and the conditions in the proposed underlease and not to underlet do or omit any act or thing which would or might cause the whole Tenant to be in breach of the demised premises Tenant’s covenants in this Lease; and
(4) before the grant of any underlease but subject to paragraph 16 of this Schedule 3, the Tenant must carry out all works to the Premises that are required by statute for the Tenant lawfully to grant an underlease.
(iii) The Tenant shall:
(1) not consent to or participate in any variation to any underlease without the Landlord’s consent of the Landlord (such consent not to be unreasonably withheld or delayed);
(2) enforce all the covenants and obligations of the undertenant under any underlease.
Appears in 2 contracts
Samples: Lease Agreement (Orchard Rx LTD), Lease Agreement (Orchard Rx LTD)
Underletting. (A) 2.10.1 Not to underlet grant an underlease of part of the Premises.
2.10.2 Not to grant an underlease of the whole of the demised premises otherwise than by an instrument in writing substantially in Premises unless -
(a) the form Tenant first obtains the written consent of this Lease approved by the Landlord (such approval which consent shall not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment); and
(ivb) the Tenant first complies with the provisions of clauses 2.10.2 to 2.10.7 (inclusive).
2.10.3 Prior to granting an underlease to obtain a deed (in a form approved by the Landlord) -
(a) from the proposed undertenant containing covenants by the undertenant that it will during the time for which it remains liable for the covenants on the part of the undertenant (whether pursuant to the underlease or having endorsed upon it any authorised guarantee agreement) comply with the obligations of the tenant in the underlease and the obligations of the Tenant in this Lease (except for the obligation to pay the Basic Rent and where inappropriate to the premises to be underlet); and
(b) (if the Landlord reasonably requires) from a surety or sureties reasonably acceptable to the Landlord to guarantee the performance of the undertenant’s obligations to the Landlord given pursuant to paragraph (a) of this clause 2.10.2.
2.10.4 The rent to be reserved by an agreement excluding underlease must be not less than the open market value of the Premises.
2.10.5 To include in the underlease covenants by the undertenant with the Tenant (as landlord) -
(a) not to assign or charge a part of the underlet premises;
(b) not to underlet a part of the underlet premises; and
(c) not to assign the whole of the underlet premises without the prior written consent of the Tenant (as landlord) and the Landlord (which consent shall not be unreasonably withheld or delayed).
2.10.6 Except where provided otherwise in clause 2.10.4 to include in the underlease obligations and conditions which correspond with the obligations of the Tenant and the conditions in this Lease (except for the obligation to pay the Basic Rent and where inappropriate to the premises underlet).
2.10.7 The underlease shall exclude sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order in accordance with the requirements of the court under section 38(438(1A) of that Act.
(B) 2.10.8 Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior written consent of the Landlord under this Lease such consent not to be unreasonably withheld -
(a) vary the terms of or delayedwaive (whether expressly or by implication) the benefit of any covenant of an undertenant or condition in an underlease;
(b) accept any sum or payment in kind by way of commutation of the rent payable by an undertenant; or
(c) accept payment of rent from an undertenant otherwise than by regular quarterly (or more frequent) payments in advance.
(C) Subject 2.10.9 The Tenant will use reasonable endeavours to sub-paragraphs (A) and (B), not to underlet enforce the whole obligations of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).an undertenant
Appears in 1 contract
Samples: Lease (Zipcar Inc)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise Property or a Subletting Unit nor vary the terms of any underlease without the Landlord’s written consent (not to be unreasonably withheld or delayed). Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than by an instrument in writing substantially the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) either:
(I) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(II) to observe and perform the Tenant’s covenants in the underlease during the term of the underlease or until released pursuant to the 1995 Act
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this Lease clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Subletting Unit, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than two (2) units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant)
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
(ix) unless the underletting is either:
(a) of the whole or part of the Property and contains a covenant on the part of the undertenant to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(b) on terms obliging the undertenant to take a lease of the whole of the Property for the unexpired residue of the term of this lease (less one day) on the same terms as those contained in this lease (including as to rents and rent review) in the event of the immediate reversion to such underlease becoming vested in the Landlord the underlease shall contain a break exercisable by the landlord on three (3) months’ notice in the event of the immediate reversion thereto becoming vested in the Landlord;
(x) the underlease is in a form approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).
Appears in 1 contract
Samples: Lease (Adaptimmune Therapeutics PLC)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona tide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) the underlease reserves as rent the Service Charge payable under this lease;
Appears in 1 contract
Samples: Lease (Evotec SE)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Subletting Unit nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Subletting Unit, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than two (2) units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant)
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
Appears in 1 contract
Samples: Lease (Replimune Group, Inc.)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) not to do anything which might amount to a breach of the Tenant’s covenants in this lease during the term of the underlease or until released pursuant to the 1995 Act;
(b) to observe and perform the covenants on the part of the undertenant in the underlease during the term of the underlease or until released pursuant to the 1995 Act;
(c) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(d) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3;
Appears in 1 contract
Samples: Lease (Summit Therapeutics PLC)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property without fine or premium;
(b) payable no more than one quarter in advance;
(c) where an underlease is for a term of more than 5 years, subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due and demanded (other than in the case of Principal Rent) under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) the underlease reserves as rent the Service Charge payable under this lease;
Appears in 1 contract
Samples: Lease (Exscientia LTD)
Underletting. (Aa) Not to underlet any part of the Premises (as distinct from the whole).
(b) Not to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Premises except where the form of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):following conditions are fulfilled:
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession any underlease whether mediate or sharing the occupation of the premises underlet or any part of them or assigning part of them;immediate must:
(ii1) be at not less than an open market rent at the best rent reasonably obtainable time of grant without taking a fine or premium;
(iii2) containing provisions in the case of an underlease of more than 5 years contain provision for rent review in an upward direction only at least at such times as to coincide with the rent reserved reviews provided for in this lease;
(3) contain a covenant by the underlease undertenant not to assign, underlet, part with possession of or share possession or occupation of the whole or any part or parts of the subdemised premises or mortgage or charge the whole or any part or parts of the subdemised premises except by way of an assignment, underletting or charge of the whole of the subdemised premises;
(4) contain a covenant by the undertenant not to assign, underlet or charge the whole of the subdemised premises without the consent of the Landlord;
(5) otherwise be reviewed in an upwards direction only with effect from on similar terms (mutatis mutandis) to the same dates as the principal yearly rent under terms of this Lease is liable to be reviewed and upon the same principles of ascertainmentlease; and
(iv6) containing or having endorsed upon it an be in a form approved by the Landlord prior to its grant.
(ii) any underlease must contain a valid agreement excluding under section 38A of the Landlord and Tenant Act 1954 to exclude the provisions of sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not Act in relation to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) before the grant of any underlease the Tenant must procure a covenant from the undertenant with the Landlord to pay the rents and other sums reserved by and observe and perform the undertenant’s covenants and the conditions in the proposed underlease and not to assign do or omit any act or thing which would or might cause the premises underlet without the prior consent Tenant to be in breach of the Landlord under Tenant’s covenants in this Lease such consent not to be unreasonably withheld or delayedlease.
(Cc) Subject The Tenant shall:
(i) not consent to sub-paragraphs or participate in any variation to any underlease without the Landlord’s consent;
(Aii) enforce all the covenants and (B), not to underlet the whole obligations of the demised premises without undertenant under any underlease; and
(iii) operate and effect all reviews of rent under the consent terms of any underlease but not agree or have determined any reviewed rent until the corresponding review under this lease is agreed or determined; and
(iv) notify the Landlord of the Landlord (such consent not to be unreasonably withheld reviewed rent immediately it has been agreed or delayed)determined.
Appears in 1 contract
Underletting. 4.15.1 Not to underlet part (Aas distinct from the whole) of the Property except a Permitted Part.
4.15.2 Not to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Permitted Part without the form consent of this Lease approved by the Landlord (such approval which will not to be unreasonably withheld or delayed):) and unless by way of a permitted underlease.
4.15.3 The rent payable under any permitted underlease shall be
(ia) containing an absolute prohibition against No less than the underlessee underletting, charging, parting with possession or sharing the occupation open market rental value of the premises underlet Property (or the Permitted Part, as the case may be) disregarding any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainmentpremium payable; and
(ivb) containing or having endorsed upon it an agreement excluding sections 24 to 28 approved by the Landlord before the grant of the Landlord and Xxxxxx Xxx 0000 authorised by an order of underlease; and
(c) payable in advance, on the court under section 38(4) of that ActRent Payment Days.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with 4.15.4 Every permitted underlease shall contain provisions approved by the Landlord:
(ia) to observe and perform prohibiting the tenant's covenants undertenant from doing or allowing any act or thing in this Lease (other than as relation to the payment underlet premises which is inconsistent with or in breach of rent)the provisions of this Lease;
(iib) to pay the rents reserved for re-entry by the proposed underlease and to observe and perform underlandlord on breach of any covenant by the undertenant's covenants in such underlease; and;
(iiic) not to assign imposing an absolute prohibition against all dispositions of or other dealings whatever with the whole or any part of the underlet premises underlet other than an assignment or charge of the whole or sharing with a Group Company;
(d) prohibiting any assignment or charge of the whole without the prior consent of the Landlord under this Lease (such consent not to be unreasonably withheld or delayed);
(e) imposing in relation to any permitted assignment or charge the same obligations for registration with the Landlord as are contained in this Lease in relation to dispositions by the Tenant.
(C) Subject to sub-paragraphs (A) 4.15.5 To enforce the performance and (B), not to underlet the whole observance by every undertenant of the demised premises provisions of the underlease and not at any time either expressly or by implication to waive any breach of the covenants or conditions on the part of any undertenant nor, without the consent of the Landlord (such consent not to be unreasonably withheld or delayeddelayed in respect of any surrender or variation which does not conflict with the terms of this clause (4.15)) to vary the terms or accept a surrender of any permitted underlease.
4.15.6 To exclude the provisions of Sections 24 to 28 (inclusive) of the 1954 Act from any underlease and before granting the underlease to obtain a court order authorising the exclusion and produce a copy to the Landlord.
Appears in 1 contract
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Subletting Unit nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Save in the case of any underletting for a term in excess of five years and which is of any of Xxxx 00X, Xxxx 00X, Xxxx 00X or Xxxx 00X sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this sub-clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Property, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property;
(vi) there shall be no more than six (6) units of occupation at any time (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant);
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
Appears in 1 contract
Underletting. 3.25.1 Not at any time to underlet or part with or share possession or occupation of the whole or any part of the Premises save that the Tenant may upon obtaining the Landlord’s prior written consent (Awhich shall not be unreasonably withheld or delayed) Not to underlet the whole of the demised premises otherwise than Premises as a single entity or parts of the Premises provided such parts comprise a Sublettable Part and any such consent shall be by an instrument in writing substantially in the form of this Lease approved deed to be prepared by the Landlord but at the expense of the Tenant which shall if required by the Landlord contain covenants by the intended underlessee (which shall be joint and several in the case of two or more persons) directly with the Landlord to perform and observe the Tenant’s covenants and conditions herein contained in respect of the part of the Premises sublet (including this covenant but except the covenant to pay Rents) for the duration of the liability of the undertenant under the tenant covenants of the underlease PROVIDED ALWAYS that the Tenant shall obtain the approval of the Landlord’s solicitors to the principal terms of any such underletting before granting the same (such approval not to be unreasonably withheld or delayed):) and PROVIDED ALSO that the Tenant shall not underlet the whole or part of the Premises unless on each and every occasion an Order of the Court shall have been obtained prior to the grant of the Underlease effectively excluding therefrom the provisions of Sections 24 to 28 inclusive of the Landlord and Xxxxxx Xxx 0000
3.25.2 Not to create or permit the creation of any interest derived out of the Term howsoever remote or inferior upon the payment of a fine or premium and every underletting for which a consent is granted under the preceding sub-clause shall be by way of underlease at a full open market rack rent on the same basis and assumption and the remaining terms of the underlease shall be compatible herewith and further every such underlease shall contain (i) containing inter alia):-
3.25.2.1 an absolute prohibition against unqualified covenant on the part of the underlessee underletting, charging, parting with possession not to assign underlet or sharing transfer any part or parts (as opposed to the occupation whole) of the sub-demised premises nor to underlet the whole thereof and save as permitted by the paragraph next following not to part with or share possession of the whole or any part of them the sub-demised premises nor to permit any person company or assigning body other than the underlessee to occupy or share occupation of the same
3.25.2.2 a covenant on the part of them;
the underlessee not to assign the whole of the sub-demised premises without the previous written consent of the Landlord under this present Lease (ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease such consent not to be reviewed in an upwards direction only with effect from unreasonably withheld or delayed)
3.25.2.3 a clause excluding the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles provisions of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by pursuant to an order of the court under section 38(4) of that Act.Court
(B) Not to underlet the whole 3.25.3 In connection with any permitted underlease following grant of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:same:-
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) 3.25.3.1 not to assign consent to or participate in any variation or addition whatsoever to such underlease (or any of the premises underlet terms thereof) without the prior written consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
3.25.3.2 to enforce all the covenants and obligations of the underlessee thereunder
3.25.3.3 to procure that in any permitted underletting the rent is reviewed under such underletting in accordance with the terms of the underlease (C) Subject if any)
3.25.4 Provided that in any application to the Landlord for consent under the provisions of this sub-paragraphs (A) and (B), not to underlet clause the whole Tenant shall if requested by the Landlord be accompanied by audited accounts or other information reasonably requested by the Landlord in respect of the demised premises without previous three years trading figures of such person
3.25.5 Notwithstanding the consent foregoing provisions of this sub-clause the Tenant shall be entitled to allow any company that is a member of the same group as the Tenant (within the meaning of Section 42 of the Landlord (and Tenant Act 1954) to occupy the whole or part of the Premises PROVIDED THAT such consent occupation is as licensee only shall not afford exclusive occupation and no security of tenure is thereby given and such occupation shall forthwith be determined if the Tenant and such company shall cease for any reason whatsoever to be unreasonably withheld or delayed).members of the same group and PROVIDED FURTHER that before the Tenant allows such occupation it shall notify the Landlord in writing of the name and registered office of such company and shall (if requested) provide to the Landlord evidence of the shareholdings in such company
Appears in 1 contract
Samples: Lease Agreement (Cambridge Display Technology, Inc.)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property without fine or premium;
(b) payable no more than one quarter in advance;
(c) where the term of the underlease is in excess of three years (but not otherwise) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) not to do anything which might amount to a breach of the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act;
(b) to observe and perform the covenants on the part of the undertenant in the underlease during the term of the underlease or until released pursuant to the 1995 Act;
(c) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(d) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
Appears in 1 contract
Samples: Lease (Summit Corp PLC)
Underletting. (A) Not to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in the form of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):delayed on the same terms and conditions as this Lease so far as applicable to the premises underlet:
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent which can reasonably obtainable be obtained without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an it.
(a) a reference to the notice served on the undertenant in the form, or substantially in the form, set out in schedule 1 to the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003;
(b) a reference to the declaration or statutory declaration made by the undertenant in the form, or substantially in the form, set out in paragraph 7 or paragraph 8 as appropriate of schedule 2 to that Order; and
(c) a valid agreement excluding sections 24 to 28 under section 38(A)(1) of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) excluding sections 24 to 28 of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs paragraph (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed)) provided that for the purposes of section 19(1A) of the Landlord and Xxxxxx Xxx 0000 the Landlord may:
(i) withhold its consent in circumstances where the Tenant has been unable to satisfy the Landlord (acting reasonably) that the intended underlessee is of appropriate financial standing to be able to comply with the covenants contained in the Underlease;
(ii) withhold its consent unless prior to the date of the proposed underletting the Tenant has paid all sums which have fallen due for payment under this Lease before that date and has remedied any outstanding breaches of the Tenant's covenants in this Lease provided that if there shall be a bona fide dispute as to any sum payable the Tenant shall discharge this condition by depositing such sum in an escrow account pending resolution of such dispute;
(iii) make it a condition of its consent that the intended underlessee enters into direct covenants with the Landlord;
(a) to observe and perform the Tenant's covenants in this Lease (other than as to the payment of rent) insofar as they relate to the premises to be underlet;
(b) to pay the rents reserved by the proposed underlease and to observe and perform the underlessee's covenants in such underlease; and
(c) not to assign the premises to be underlet without the prior consent of the Landlord under this Lease, such consent not to be unreasonably withheld or delayed.
(iv) (if it is reasonable to do so) make it a condition of its consent that such surety or sureties as the Landlord requires covenant by deed directly with the Landlord as principal debtors or covenantors in such form as the Landlord requires:
(a) that the underlessee will pay the rent reserved by the proposed underlease and observe and perform the underlessee's covenants in the proposed underlease; and
(b) to pay to the Landlord all losses, costs and expenses arising out of or incidental to any failure by such underlessee to comply with its obligations to the Landlord from time to time.
(C) To enforce the observance and performance of and not to vary or waive the covenants on the part of any underlessee or surety and the provisions for review of rent contained in any underlease.
(D) Not to defer or accelerate the payment of rent under any underlease.
(E) Not to agree any review of rent or the appointment of any expert or arbitrator under any underlease without the consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
Appears in 1 contract
Underletting. (A) Not to The Tenant will not underlet the whole of the demised premises otherwise than by an instrument Property. The Tenant will not underlet a Permitted Part, except in writing substantially in the form of accordance with this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet clause nor without the prior consent of the Landlord under this Lease (except as permitted in clause 3.15.6), such consent not to be unreasonably withheld or delayed.
. An application for consent is to be accompanied by full written details of the proposed underletting including the proposed payments to be made by the intended undertenant. Any consent of the Landlord required pursuant to this clause 3.15 must be by deed to be valid. The Tenant will not underlet a Permitted Part at a fine or premium or reverse premium. The Tenant will not underlet a Permitted Part unless, before the underlease is granted, or, if earlier, before the undertenant becomes contractually bound to take the underlease, the underlease is validly excluded from the operation of sections 24 to 28 (Cinclusive) Subject of the Landlord and Tenant Act 1954, in accordance with the provisions of section 38A of that Act and the relevant schedules of The Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 and the Tenant produces to sub-paragraphs the Landlord adequate evidence of such valid exclusion as referred to in this clause. Any underletting by the Tenant must be by deed and must include: a covenant by the undertenant, expressed to be enforceable by the Landlord (Aas superior landlord at the date of grant) and its successors in title in their own right, to observe and perform the tenant covenants in the underlease and any document that is supplemental or collateral to it; where relevant provisions requiring the consent of the Landlord to be obtained in respect of any matter for which the consent of the Landlord is required under this Lease; a condition for re-entry on breach of the underlease by the undertenant; and and must otherwise be: consistent with and include tenant covenants no less onerous (B)other than as to the Basic Rent) than those in this Lease; and for a term that will expire more than 2 days before the end of the term of this Lease; and and must otherwise be in a form approved by the Landlord, such approval not to underlet be unreasonably withheld save that the whole Landlord's approval to the form of the demised premises underlease shall be deemed to have been given if the underlease is in the form or substantially the same form as the specimen underlease attached in Schedule 10. In relation to any underlease granted by the Tenant, the Tenant will enforce the tenant covenants in the underlease and not vary the terms of the underlease without the consent of the Landlord (Landlord, such consent not to be unreasonably withheld or delayed). If required by the EPC Regulations the Tenant shall obtain a valid EPC in respect of any underlease of the whole of the Property and deliver a copy to the Landlord (together with details of the reference number of such EPC if not apparent from the copy) within 5 Working Days of such EPC being issued. If any sub-lease granted by the Tenant invalidates a valid EPC for any Neighbouring Property (or any part thereof) held by the Landlord of which the Tenant has prior written notification or adversely affects the asset rating in any such EPC then the Tenant shall (at the option of the Landlord) indemnify the Landlord in respect of the reasonable expenses properly incurred in respect of the cost of a new and valid EPC for the Neighbouring Property.
Appears in 1 contract
Samples: Lease
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise Property nor vary the terms of any underlease without the Landlord’s written consent (not to be unreasonably withheld or delayed). Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than by an instrument in writing substantially the rent reasonably obtainable in the form open market for the Property without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) either:
(I) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(II) to observe and perform the Tenant’s covenants in the underlease during the term of the underlease or until released pursuant to the 1995 Act
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) the underlease reserves as rent the Service Charge payable under this lease;
(v) unless any underletting of the whole of the Property
(a) contains a covenant on the part of the undertenant to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(b) is on terms obliging the undertenant to take a lease of the whole of the Property for the unexpired residue of the term of this Lease lease (less one day) on the same terms as those contained in this lease (including as to rents and rent review) in the event of the immediate reversion to such underlease becoming vested in the Landlord the underlease shall contain a break exercisable by the landlord on three (3) months’ notice in the event of the immediate reversion thereto becoming vested in the Landlord;
(vi) the underlease is in a form approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).
Appears in 1 contract
Samples: Lease (Adaptimmune Therapeutics PLC)
Underletting. (A) Not to underlet or agree to underlet the whole of the demised premises otherwise than by an instrument in writing substantially in Property or a Subletting Unit nor vary the form terms of this Lease approved by the Landlord (such approval not to be unreasonably withheld or delayed):
(i) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or any part of them or assigning part of them;
(ii) at the best rent reasonably obtainable underlease without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
’s written consent (i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).. Any permitted underletting must comply with the following:
(i) the rent payable under the underlease must be:
(a) not less than the rent reasonably obtainable in the open market for the Property or the Subletting Unit without fine or premium;
(b) payable no more than one quarter in advance;
(c) subject to upward only reviews at intervals no less frequent than the rent reviews under this lease;
(ii) the undertenant covenants with the Landlord and in the underlease:
(a) either:
(I) to observe and perform the Tenant’s covenants in this lease (except for payment of the rents) during the term of the underlease or until released pursuant to the 1995 Act; or
(II) to observe and perform the Tenant’s covenants in the underlease during the term of the underlease or until released pursuant to the 1995 Act
(b) not to underlet, share or part with possession or occupation of the whole or any part of the underlet premises, nor to assign or charge part only of the underlet premises;
(c) not to assign the whole of the underlet premises without the Landlord’s prior written consent (which shall not be unreasonably withheld or delayed);
(iii) all rents and other payments due under this lease (not the subject of a bona fide dispute) are paid before completion of the underletting;
(iv) in relation to any Subletting Unit Sections 24 to 28 of the 1954 Act must be excluded and before completion of the underletting a certified copy of each of the following documents must be supplied to the Landlord:
(a) the notice served on the proposed undertenant pursuant to section 38A(3)(a) of the 1954 Act; and
(b) the declaration actually made by the proposed undertenant in compliance with the requirements of Schedule 2 of the 2003 Order; and
(c) the proposed form of underlease containing an agreement to exclude the provisions of sections 24 to 28 of the 1954 Act and a reference to both the notice pursuant to section 38A(3)(a) of the 1954 Act and the declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3; and before completion of the underletting the Tenant must warrant to the Landlord that both the notice pursuant to section 38A(3)(a) of the 1954 Act has been served on the relevant persons as required by the 1954 Act and the appropriate declaration pursuant to the requirements of Schedule 2 of the 2003 Order as referred to in this clause 4.13.3 has been made prior to the date on which the Tenant and the proposed undertenant became contractually bound to enter into the tenancy to which the said notice applies;
(v) in relation to any Subletting Unit the underlease grants such rights as are appropriate for the separate occupation and use of the Subletting Unit, reserves such rights as are appropriate for the separate occupation and use of the remainder of the property let by this lease and to enable the Tenant to comply with its obligations under this lease, and reserves as rent:-
(a) a fair proportion of the cost of insuring the Property and the whole cost of insuring the loss of the principal rent and service charge payable under the underlease; and
(b) a service charge which provides for the undertenant to pay a fair and reasonable proportion of expenditure incurred by the Tenant in relation to the maintenance, repair, renewal, decoration and cleaning of the Property (including without limitation the Conduits, plant and equipment therein) and the provision of services to the Property
(vi) there shall be no more than five (5) units of occupation at any time and no more than two (2) units of occupation on either the ground floor of the Property or the first floor of the Property and no more than one (1) unit of occupation on the second floor of the Property (and for this purpose a unit of occupation shall comprise (a) each Subletting Unit which is separately underlet and (b) the residue of the net lettable area of the Property (if any) retained by the Tenant)
(vii) (in the case of an underletting of the whole of the Property) the underlease reserves as rent the Service Charge payable under this lease;
(viii) (in the case of an underletting of a Subletting Unit) the underlease reserves as rent a fair and reasonable proportion of the Service Charge payable under this lease;
(ix) unless the underletting is either:
(a) of the whole or part of the Property and contains a covenant on the part of the undertenant to observe and perform the Tenant’s covenants in this lease (except for payment of the
Appears in 1 contract
Samples: Lease (Adaptimmune Therapeutics PLC)
Underletting. (Aa) In this clause, “Permitted Underlease” means an underlease which;
(i) reserves not less than the open market rent for the Premises current at the grant of the underlease or (in the case of a letting of a Permitted Part) an appropriate proportion of such rent;
(ii) provides for the review of the rent on the same dates and substantially on the same terms as contained in this Lease;
(iii) is not granted in consideration of any fine or premium;
(iv) is granted on terms which are not inconsistent with this Lease (insofar as they relate to the underlet premises) and provide that any further underletting is prohibited;
(v) comprises all the terms of the tenancy entered into between the Tenant and the undertenant;
(b) Not to underlet part only of the Premises otherwise than by way of an underlease of a Permitted Part.
(c) Not to underlet the whole or a Permitted Part of the demised Premises unless:
(i) the undertenant first covenants with the Landlord In terms reasonably acceptable to the Landlord to observe all applicable terms of this Lease to the extent that the same relate to the underlet premises otherwise than by an instrument in writing substantially and save for the payment of the Rents;
(ii) the underlease is a Permitted Underlease;
(iii) if the Landlord reasonably so requires, a guarantor or guarantors reasonably acceptable to the Landlord first guarantees or guarantee the undertenant’s obligations in the form set out in schedule 6 (but omitting the provisions relating to disclaimer of this Lease approved by the underlease and otherwise amended to extend only to the obligations of the undertenant);
(iv) sections 24 to 28 (inclusive) of the 1954 Act are lawfully excluded from the underlease; and
(v) the underletting of a Permitted Part does not produce more than 3 separate and concurrent occupancies of the Premises (excluding occupations pursuant to clause 3.13(b). and (subject to the above) the Landlord has consented to such underletting (such approval which consent will not be unreasonably withheld or delayed).
(d) To use reasonable endeavours to enforce and not to vary or knowingly waive any of the terms of any underlease and not to agree any rent review in respect of any underlease without the Landlord’s consent (not to be unreasonably withheld or delayed):) and to give details of every such rent review to the Landlord within 28 days of its outcome,
(ie) containing an absolute prohibition against the underlessee underletting, charging, parting with possession or sharing the occupation of the premises underlet or At any part of them or assigning part of them;
time (iibut not more than once in any 12 month period) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable produce to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord following written demand full details of any underlettings or occupations affecting the Premises and Xxxxxx Xxx 0000 authorised by an order copies of the court under section 38(4) of that Act.
(B) Not any documents relating to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).interests,
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Samples: Lease
Underletting. (Aa) Not to underlet grant an Investment Underlease following the whole commencement of but prior to the demised premises otherwise than by an instrument in writing substantially in the form completion of any Redevelopment but this Lease approved by the Landlord (such approval clause shall not to be unreasonably withheld or delayed):prevent:
(i) containing the Tenant from contracting to grant an absolute prohibition against Investment Underlease following such completion provided that the underlessee underletting, charging, parting Tenant complies with possession or sharing the occupation other provisions of the premises underlet or any part of them or assigning part of themthis clause 11;
(ii) at the best rent reasonably obtainable without taking Tenant from granting a fine lease of whole or premiumsubstantially the whole of the Demised Premises to a s237 Assignee;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles a s237 Assignee (once Tenant or subtenant) granting a lease of ascertainment; and
(iv) containing whole or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet substantially the whole of the demised premises without procuring that Demised Premises to the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in previous Tenant under this Lease (other than as "s237 Lease") or from contracting to the payment grant a s237 Lease (in relation to both of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(C) Subject to sub-paragraphs (A) and (B), not to underlet the whole of the demised premises without the consent of the Landlord shall not be required (provided that in relation to (iii) if there is a guarantor of the Tenant immediately prior to the assignment to a s237 Assignee such consent not guarantor shall guarantee the obligations of the Tenant under any lease granted pursuant to clause 11.1(a) (iii) and such guarantor and such Tenant enter into a direct covenant with the Landlord (in a form to be unreasonably withheld approved by the Landlord acting reasonably) to comply with the obligations of the tenant under such lease granted pursuant to clause 11.1(a)(iii)))
(b) Without prejudice to clause 11.1(a) and subject to clause 11.1(c) the Tenant may underlet the Demised Premises or delayed)a part of the Demised Premises if all of the relevant conditions set out in clause 11.2 are satisfied and none of the circumstances set out in clause 11.3 apply
(c) The conditions set out in clause 11.2 and the circumstances set out in clause 11.3 shall not apply in relation to the Tenant granting a lease of whole or substantially the whole of the Demised Premises to a s237 Assignee or a s237 Assignee (once Tenant or subtenant) granting a s237 Lease.
Appears in 1 contract
Samples: Lease
Underletting. (A) Not 9.5.1. Any consent of the Landlord to underlet an underletting of the whole of the demised premises otherwise than Property will be subject to conditions that:
9.5.1.1. the undertenant enters into a deed with the Landlord in which the undertenant covenants that during the period when the undertenant is bound by the tenant covenants contained in the underlease together with any additional period during which the undertenant is bound by an instrument in writing substantially in authorized guarantee agreement the form undertenant will observe and perform the provisions of this Lease (excluding the covenant as to the payment of rent) and the provisions of the underlease
9.5.1.2. the underlease is granted without a fine or premium at a rent no lower than the then open market rent approved by the Landlord (such approval not to be unreasonably withheld withheld)
9.5.1.3. the rent is payable in advance on the same days as rent is payable under this Lease
9.5.1.4. the underlease contains provisions approved by the Landlord (such approval not to be unreasonably withheld): - for the upwards-only review of the rent on the basis set out in clause 4 or delayed):
(i) containing in such other form as the Landlord reasonably requires or approves - for the rent to be reviewed either on the Review Dates or on such other dates approved by the Landlord by which the rent is reviewed no less frequently - prohibiting the undertenant from doing or allowing any act or thing in relation to the Property inconsistent with or in breach of the provisions of this Lease - for re-entry by the underlandlord on breach of any covenant by the undertenant - imposing an absolute prohibition against all dealings with the underlessee underletting, charging, parting with possession Property other than an assignment or sharing the occupation charge of the premises underlet or whole - prohibiting any part assignment of them or assigning part of them;
(ii) at the best rent reasonably obtainable without taking a fine or premium;
(iii) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainment; and
(iv) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order of the court under section 38(4) of that Act.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet Property without the prior consent of the Landlord under this Lease and except on the basis set out in clauses 9.1 -- 9.5 of this Lease such provisions being incorporated into the underlease - prohibiting any charge of the whole of the Property without the consent of the Landlord under this Lease - prohibiting the undertenant from parting with possession or permitting another to share or occupy or hold on trust for another the Property or any part of it - imposing in relation to any permitted assignment the same obligations for registration with the Landlord as are in this Lease in relation to dispositions by the Tenant - excluding the provisions of the 1954 Act, sections 24 -- 28 from the letting created by the underlease 86
9.5.2. The Tenant covenants with the Landlord:
9.5.2.1. to enforce the performance by every undertenant of the provisions of the underlease and not at any time to waive any breach of the covenants or conditions on the part of any undertenant or assignee of any underlease nor (without the consent of the Landlord such consent not to be unreasonably withheld or delayed.withheld) to vary the terms of any underlease
(C) Subject to sub-paragraphs (A) and (B), 9.5.2.2. not to underlet agree any reviewed rent with the whole undertenant without the approval of the demised premises Landlord such approval not to be unreasonably withheld
9.5.2.3. not to agree any appointment of a person as the third party determining the revised rent without the approval of the Landlord such approval not to be unreasonably withheld
9.5.2.4. to incorporate as part of its representations to that third party representations required by the Landlord
9.5.2.5. to give the Landlord details of every rent review within twenty-eight days of its outcome
9.5.2.6. not to grant the underlease or permit the undertenant to occupy the Property unless an order has been obtained under the 1954 Act, section 38(4)
9.5.2.7. not to accept the surrender of or forfeit or otherwise determine any underlease without the consent of the Landlord (such consent not to be unreasonably withheld or delayed).Landlord
Appears in 1 contract
Underletting. (Aa) Not to underlet any part of the Demised Premises save Permitted Parts will be permitted, so that at no time shall the number of occupiers of the Demised Premises exceed three (including the Tenant).
(b) Not to underlet the whole or any Permitted Part of the demised premises Demised Premises for a term expiring later in time than the Term granted to the Tenant under this Underlease, nor without obtaining the consent of the Landlord (such consent not to be unreasonably withheld or delayed) nor otherwise than by an instrument in writing substantially on terms consistent in all material respects (other than rent) with the form provisions of this Lease approved by Underlease so far as applicable to the Landlord (such approval not to be unreasonably withheld or delayed):premises underlet and:
(i) containing an absolute prohibition against the underlessee underlettingunderlessee, charging, parting with possession or sharing the occupation of the premises underlet or any part of them underletting or assigning part of them;
(ii) permitting further underletting only of the whole of the underlet premises comprised in such underletting;
(iii) containing a covenant by the underlessee not to assign, charge, underlet, part with or share possession of the whole of the premises underlet without the prior written consent of the Landlord provided that such consent shall not be unreasonably withheld or delayed;
(iv) at the best open market rent reasonably obtainable without taking a fine or premium;
(iiiv) containing provisions for the rent reserved by the underlease to be reviewed in an upwards direction only with effect from the same dates as the principal at five yearly rent under this Lease is liable to be reviewed and upon the same principles of ascertainmentintervals; and
(ivvi) containing or having endorsed upon it an agreement excluding sections 24 to 28 of the Landlord and Xxxxxx Xxx 0000 authorised by an order in accordance with the requirements of the court under section 38(4Regulatory Reform (Business Tenancies) of that Act(England and Wales) Order 2003.
(B) Not to underlet the whole of the demised premises without procuring that the undertenant enters into direct covenants with the Landlord:
(i) to observe and perform the tenant's covenants in this Lease (other than as to the payment of rent);
(ii) to pay the rents reserved by the proposed underlease and to observe and perform the undertenant's covenants in such underlease; and
(iii) not to assign the premises underlet without the prior consent of the Landlord under this Lease such consent not to be unreasonably withheld or delayed.
(Cc) Subject to sub-paragraphs paragraph (A) and (Ba), not to underlet the whole of the demised premises Demised Premises or any Permitted Parts without the consent of the Landlord (such consent not to be unreasonably withheld or delayed)) provided that for the purposes of section 19(1A) of the Landlord and Xxxxxx Xxx 0000 the Landlord may:
(i) withhold its consent in circumstances where the Tenant has been unable to satisfy the Landlord, (acting reasonably) within one month of the original application for such consent, that the intended underlessee or its surety is of appropriate financial standing;
(ii) withhold its consent unless prior to the date of the proposed underletting the Tenant has paid all sums which have fallen due for payment under this Underlease before that date;
(iii) make it a condition of its consent that the intended underlessee enters into direct covenants with the Landlord:
A. to observe and perform the Tenant’s covenants in this Underlease (other than as to the payment of rent) insofar as they relate to the premises to be underlet;
B. to pay the rents reserved by the proposed underlease and to observe and perform the underlessee’s covenants in such underlease; and
C. not to assign or underlet the premises to be underlet without the prior consent of the Landlord;
(iv) make it a condition of its consent that such sureties as the Landlord reasonably requires covenant by deed directly with the Landlord as principal debtors or covenantors, in such form as the Landlord reasonably requires, that the underlessee will pay the rent reserved by the proposed underlease and observe and perform the tenants covenants in the proposed underlease.
(d) To enforce the observance and performance of and not to enter into any material waiver of or variation to the covenants on the part of any underlessee or the provisions for review of rent contained in any underlease.
(e) Not to defer or accelerate the payment of rent under any underlease.
Appears in 1 contract
