Licence to Underlet definition

Licence to Underlet a licence to underlet or other deed containing a direct covenant by the Tenant with the Superior Lessor to pay the rents reserved by the Lease and to perform and observe all the covenants on the part of the lessee contained in the Lease and to perform and observe all the covenants on the part of the Landlord in the Superior Lease (other than the obligation to pay the rents thereby reserved and except where inapplicable to the Premises)
View Source
Licence to Underlet means a Licence from the Superior Landlord to the Landlord to underlet the Premises to the Tenant in a form reasonably acceptable to the parties hereto
View Source
Licence to Underlet means in relation to the Singapore Property the licence or consent required to be given by the Landlord to permit the Sellers and/or the UK Seller to underlet the Singapore Property to the Buyer in accordance with the terms of the Singapore Lease of that Property
View Source

Examples of Licence to Underlet in a sentence

  • For the avoidance of doubt, the UK Seller shall not be obliged to exercise the option to renew the Singapore tenancy for a further term during the Permitted Occupation Period where the Licence to Assign and Licence to Underlet has not been obtained.

  • Property Completion of the sale and purchase of the Leasehold Property (but not the sale of the business carried on at it) shall not be conditional upon the grant of the Licence to Assign or the Licence to Underlet in respect of the Singapore Property.

  • Property Completion of the sale and purchase of the Leasehold Property (but not the sale of the business carried on at it) is conditional upon the grant of the relevant Licence to Assign (or the Licence to Underlet where an application is made pursuant to paragraph 3.5 or if applicable the obtaining of a Declaration pursuant to paragraph 3.7) and Standard Condition 10.3 shall apply in so far as it is not inconsistent with this paragraph 3.


More Definitions of Licence to Underlet

Licence to Underlet a licence to underlet in the agreed form or in such other form as the Buyer or the Seller may agree (each party acting reasonably) made between the Landlord (1), The New Unique Broadcasting Company Limited (2) and the Company (3) authorising the grant of the Underlease “Loan Waiver Agreement” the loan waiver agreement to be entered into prior to Completion between (1) the Company and (2) the Seller in respect of an inter-company debt of (approximately) £8,000,000
View Source
Licence to Underlet has the meaning given in paragraph ‎1 of ‎Part B of ‎Schedule 12;
View Source