ASSIGNMENT AND UNDERLETTING Clause Samples
The Assignment and Underletting clause governs the tenant's ability to transfer their lease rights or sublease the premises to another party. Typically, this clause outlines the conditions under which assignment or subletting is permitted, such as requiring the landlord's prior written consent or specifying certain criteria that must be met by the new tenant or subtenant. Its core practical function is to give the landlord control over who occupies the property, thereby protecting their interests and ensuring that the premises are used appropriately.
ASSIGNMENT AND UNDERLETTING. 9.1 Not to assign part of this lease or underlet, charge or part with possession of part only of the Property.
9.2 Not to assign the whole of this lease, or underlet or part with possession of the whole of the Property, during the last seven years of the Term without the prior written consent of the Landlord, such consent not to be unreasonably withheld or delayed.
9.3 Not to assign the whole of this lease except to a person who has first applied to become a member of the Management Company on the completion of the assignment and executed a deed expressed to be made in favour of the Landlord and the Management Company by which that person covenants in the terms of the Draft Deed of Covenant set out in Schedule 9.
9.4 Not to underlet the whole of the Property unless:
(a) the underlease is on an assured shorthold tenancy agreement for a fixed term not exceeding one year or any other tenancy agreement whereby the tenant does not obtain security of tenure on expiry or earlier termination of the term;
(b) the Tenant, in the case of an underletting for a fixed term exceeding one year, first obtains the written consent of the Landlord (not to be unreasonably withheld or delayed);
(c) the underlease contains covenants substantially the same as those contained in the Regulations; and
(d) the underlease provides that the undertenant must not do anything that would or might cause the Tenant to be in breach of the Tenant Covenants.
9.5 Within one month of any assignment, underletting for more than one year, charge, parting with possession of or any other devolution of title to this lease or the Property to serve notice on the Landlord or (if required by the Landlord) the Landlord's solicitors and the Management Company or the Management Company's solicitors, giving details and to:
(a) provide a certified copy of the transfer or other instrument of devolution of title; and
(b) pay the reasonable registration fees of the Landlord and Management Company or their respective solicitors, which shall be no less than £50 (Fifty Pounds) plus VAT in respect of each document produced.
ASSIGNMENT AND UNDERLETTING. 4.16.1. Not to part with or share the possession or occupation of the whole or any part of the Property except as permitted by clause 4.15
4.16.2. Not to assign mortgage charge or underlet part only of the Property except by way of an underletting of a Permitted Part
4.16.3. Not to assign mortgage charge or underlet the whole of the Property or underlet a Permitted Part without:
(a) complying with the other provisions of this clause 4.16 and
(b) obtaining the Owner’s consent (which shall not be unreasonably withheld)
4.16.4. The Owner may for the purposes of section 19(1)(A) of the Landlord and Tenant Act 1927 impose the conditions set out in clause 4.16.5 as a condition of its consent to any assignment
4.16.5. The conditions referred to in clause 4.16.4 are:
(a) that if at the date of the assignment the proposed assignee is resident or registered outside England and Wales it provides at its own cost a written opinion letter signed by lawyers practising in the jurisdiction in which the assignee is registered confirming that the proposed assignee has the appropriate powers and status to enter into the assignment and also confirming any other matters which the Owner may reasonably require
(b) that the proposed assignee’s Net Profits for each of its 3 completed financial years of accounting immediately before the date of the application for consent to assign were at least 3 times the Rental Liability
4.16.6. Nothing in this clause 4.16 shall prevent the Owner from giving consent to any assignment subject to any other reasonable condition (including requiring an Authorised Guarantee Agreement if reasonable to do so in circumstances other than those set out in clause 4.16.5(a)) nor from refusing consent to any assignment in any other circumstances if reasonable to do so
4.16.7. Not to underlet the whole or a Permitted Part of the Property:
(a) at a fine or premium or reverse premium
(b) at a rent less than the open market rental value of the underlet premises at the time of underletting or any prior agreement for underletting
(c) at a rent which is commuted or is payable more than 3 months in advance
(d) unless the underlease is Excluded and the Occupier has supplied certified copies to the Owner of:
(i) the warning notice served by the Occupier on the proposed undertenant and undertenant’s guarantor (if any)
(ii) the proposed undertenant’s and undertenant’s guarantor’s (if any) declaration or statutory declaration (as appropriate)
(e) unless the undertenants N...
ASSIGNMENT AND UNDERLETTING. 16 Facilitate Landlord's Dealings with the Demised Premises ....
ASSIGNMENT AND UNDERLETTING. Alienation
ASSIGNMENT AND UNDERLETTING. 10.1 Not to assign or charge part only of this lease.
10.2 Not to assign the whole of this lease without the prior written consent of the Landlord, such consent not to be unreasonably withheld or delayed.
10.3 The Landlord and the Tenant agree that the Landlord may give its consent to an assignment subject to any reasonable condition.
10.4 Not to underlet the whole or any part of the Property or share occupation of the property.
10.5 Not to charge the whole of this lease.
10.6 Except as expressly permitted by this lease, the Tenant shall not assign, underlet, charge, part with or share possession or share occupation of this lease or the Property or hold the lease on trust for any person (except pending registration of a dealing permitted by this lease at HM Land Registry or by reason only of joint legal ownership).
10.7 In this clause a Transaction is any assignment, underletting, charge, parting with possession of or any other devolution of title to this lease or the Property.
10.8 No later than one month after a Transaction the Tenant shall:
(a) give the Landlord's solicitors notice of the Transaction; and
(b) deliver two certified copies of any document effecting the Transaction to the Landlord's solicitors; and
(c) pay the Landlord's solicitors a reasonable registration fee of not less than
10.9 If the Landlord so requests, the Tenant shall promptly supply the Landlord with full details of the occupiers of the Property and the terms on which they occupy it.
ASSIGNMENT AND UNDERLETTING. 18.1 Not to assign or charge part only of this Lease.
18.2 In this clause a Transaction is any assignment, underletting, charge, parting with possession of or any other devolution of title to this lease or the Property.
18.3 No later than one month after a Transaction the Tenant shall:
(a) give the Landlord's solicitors notice of the Transaction; [and]
(b) deliver two certified copies of any document effecting the Transaction to the Landlord's solicitors; and
(c) pay the Landlord's solicitors a reasonable registration fee of not less than £50 (plus VAT).
18.4 If the Landlord so requests, the Tenant shall promptly supply the Landlord with full details of the occupiers of the Property and the terms on which they occupy it.
ASSIGNMENT AND UNDERLETTING. 27 EASEMENTS ................................................................ 33
ASSIGNMENT AND UNDERLETTING. 19.1 The benefit of this Agreement shall be personal to the Tenant and the Tenant shall not assign underlet or part with or share its interest under this Agreement or any part thereof or otherwise dispose of the same or any part thereof
19.2 Pending the grant of the Lease this Agreement shall not operate as a demise.
ASSIGNMENT AND UNDERLETTING. 7.1 The Tenant must not:
7.1.1 assign, underlet, charge or part with possession of the whole or any part of the Property except in accordance with the terms of this Agreement;
7.1.2 share occupation of the Property with any person other than any Permitted Occupier; or
7.1.3 take in lodgers or paying guests.
7.2 The Tenant can assign this Agreement with the prior written consent of the Landlord to another person (the “Assignee”). The Landlord cannot unreasonably withhold or delay its consent if:
7.2.1 the Assignee provides necessary information and documentation which is acceptable to the Landlord (acting reasonably) to confirm that the Assignee is a full time student in higher education; and
7.2.2 where reasonably required by the Landlord, the obligations of the Assignee are guaranteed by a person acceptable to the Landlord (acting reasonably).
7.3 If the Tenant lawfully assigns this Agreement, the Tenant:
7.3.1 will not be liable for any breach of the Tenant’s obligations under this Agreement after the date of assignment; and
7.3.2 must provide the Landlord with a forwarding address.
ASSIGNMENT AND UNDERLETTING. Save as hereinafter provided not at any time during the Term to part with or share possession or occupation of the Premises or any part.