Common use of UNDERLETTINGS Clause in Contracts

UNDERLETTINGS. The Tenant shall not underlet a part (as distinct from the whole) of the Premises. The Tenant shall not underlet the whole of the Premises unless the proposed undertenant has first covenanted by deed with the Landlord in such form as the Landlord may reasonably require that with effect from the date of the underlease and during the period whilst the undertenant remains bound by the tenant covenants of the underlease the undertenant will observe and perform all the provisions of the underlease to be observed and performed by the undertenant; nor (where the proposed undertenant is a corporate body and the Landlord reasonably so requires) without first procuring a covenant by deed with the Landlord from two individuals who are or a company which is acceptable to the Landlord as surety for the undertenant; nor except by way of a “permitted underlease”; nor without the prior written consent of the Landlord (which will not be unreasonably withheld) or any superior Landlord (if applicable) or of any mortgagee or charge of the Landlord or any superior Landlord (if applicable). A “permitted underlease” is an underlease which is granted without any fine or premium; reserves a rent not less than the greater of the best rent which the Tenant ought reasonably to obtain in the open market upon the grant of such underlease and the Rent then payable; incorporates provisions for the review of rent at the same times and on the same basis as in the Lease; is (so far as is consistent with an underlease) in a form substantially the same as the Lease except that further subletting shall not be prohibited; before the underlease is completed, or, if earlier, before the undertenant becomes contractually bound to take the underlease, is validly excluded from the operation of sections 24 to 28 (inclusive) of the Landlord and Tenant Xxx 0000, 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 ("the Order"); and Is not granted until the Tenant produces to the Landlord adequate evidence of such valid exclusion as referred to in clause 11.8.5. The Tenant shall enforce and shall not waive or vary the provisions of an underlease and shall operate at the relevant dates of review the rent review provisions contained in an underlease but shall not agree the rent upon such a review without the prior approval of the Landlord.

UNDERLETTINGS. The Tenant shall not underlet a part (as distinct from the whole) of the Premises. The Tenant shall not underlet the whole of the Premises unless Property except in accordance with this clause nor without the proposed consent of the Landlord, such consent not to be unreasonably withheld. The Tenant shall not underlet part only of the Property. The Tenant shall not underlet the Property: together with any property or any right over property that is not included within this lease; nor at a fine or premium or reverse premium. The Tenant shall not underlet the Property unless, before the underlease is granted, the Tenant has given the Landlord: a certified copy of the notice served on the undertenant, as required by section 38A(3)(a) of the LTA 1954, applying to the tenancy to be created by the underlease; and a certified copy of the declaration or statutory declaration made by the undertenant has first covenanted in accordance with the requirements of section 38A(3)(b) of the LTA 1954. Any underletting by the Tenant shall be by deed with and shall include: an agreement between the Landlord in such form as the Landlord may reasonably require that with effect from the date of the underlease Tenant and during the period whilst the undertenant remains bound by the tenant covenants of the underlease the undertenant will observe and perform all that the provisions of sections 24 to 28 of the underlease LTA 1954 are excluded from applying to be observed and performed the tenancy created by the undertenantunderlease; nor (where the proposed undertenant is reservation of a corporate body and the Landlord reasonably so requires) without first procuring a covenant by deed with the Landlord from two individuals who are or a company rent which is acceptable to the Landlord as surety for the undertenant; nor except by way of a “permitted underlease”; nor without the prior written consent of the Landlord (which will not be unreasonably withheld) or any superior Landlord (if applicable) or of any mortgagee or charge of the Landlord or any superior Landlord (if applicable). A “permitted underlease” is an underlease which is granted without any fine or premium; reserves a rent not less than the greater full open market rental value of the best rent Property at the date the Property is underlet and which is payable at the Tenant ought reasonably to obtain in same times as the open market upon the grant of such underlease and the Annual Rent then payableunder this lease; incorporates provisions for the review of rent at the same times dates and on the same basis as the review of rent in this lease, unless the term of the underlease does not extend beyond the next Review Date; a covenant by the undertenant not to underlet the whole or part of the Property; a covenant by the undertenant, enforceable by and expressed to be enforceable by the Landlord (as 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 Leaseunderlease and any document that is supplemental or collateral to it and the tenant covenants in this lease, except the covenants to pay the rents reserved by this lease; is (so far as is consistent with an underlease) in a form substantially provisions requiring the same as the Lease except that further subletting shall not be prohibited; before the underlease is completed, or, if earlier, before the undertenant becomes contractually bound to take the underlease, is validly excluded from the operation of sections 24 to 28 (inclusive) consent of the Landlord and Tenant Xxx 0000, to be obtained in accordance with respect of any matter for which the provisions consent of section 38A of that Act and the relevant Schedules of [the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 ("the Order")Landlord is required under this lease; and Is not granted until provisions that allow the Tenant produces (as the landlord of the underlease) to terminate the underlease no later than the Break Date (as defined in clause 44 of this Lease), and shall otherwise be consistent with and include tenant covenants no less onerous (other than as to the Landlord adequate evidence Annual Rent) than those in this lease. In relation to any underlease granted by the Tenant, the Tenant shall: not vary the terms of the Underlease without the consent of the Landlord, such valid exclusion as referred consent not to be unreasonably withheld or delayed; use all reasonable endeavours to enforce the tenant covenants in clause 11.8.5. The Tenant shall enforce the underlease and shall not waive or vary any of them nor allow any reduction in the provisions of an underlease rent payable under the underlease; and shall operate at the relevant dates of ensure that in relation to any rent review the revised rent review provisions contained in an underlease but shall is not agree the rent upon such a review agreed without the prior approval of the Landlord, such approval not to be unreasonably withheld. Sharing occupation The Tenant shall not hold the Property on trust for another or part with the possession of the whole or any part of the Property or permit another to occupy the whole or any part of the Property.

UNDERLETTINGS. The Tenant shall not underlet a part (as distinct from the whole) of the Premises. The Tenant shall not underlet the whole of the Premises unless the proposed undertenant has first covenanted by deed Property except in accordance with the Landlord in such form as the Landlord may reasonably require that with effect from the date of the underlease and during the period whilst the undertenant remains bound by the tenant covenants of the underlease the undertenant will observe and perform all the provisions of the underlease to be observed and performed by the undertenant; nor (where the proposed undertenant is a corporate body and the Landlord reasonably so requires) without first procuring a covenant by deed with the Landlord from two individuals who are or a company which is acceptable to the Landlord as surety for the undertenant; nor except by way of a “permitted underlease”; this clause nor without the prior written consent of the Landlord, such consent not to be unreasonably withheld. The Tenant shall not underlet part only of the Property but shall be permitted to grant an underlease of the pre-school area to a pre-school if required without the consent of the Landlord (which will and further shall be entitled to grant licences, hiring agreements and concessions to persons intending to use the Building provided they comply with the Permitted Use and that the relationship of landlord and tenant does not be unreasonably withheld) exist. The Tenant shall not underlet the Property: together with any property or any superior Landlord (if applicable) right over property that is not included within this Lease; at a fine or of premium or reverse premium; nor allowing any mortgagee or charge rent free period to the undertenant. The Tenant shall not underlet the Property unless, before the underlease is granted, the Tenant has given the Landlord: a certified copy of the Landlord notice served on the undertenant, as required by section 38A(3)(a) of the LTA 1954, applying to the tenancy to be created by the underlease; and a certified copy of the declaration or any superior Landlord (if applicable)statutory declaration made by the undertenant in accordance with the requirements of section 38A(3)(b) of the LTA 1954. A “permitted Any underletting by the Tenant shall be by deed and shall include: an agreement between the Tenant and the undertenant that the provisions of sections 24 to 28 of the LTA 1954 are excluded from applying to the tenancy created by the underlease” is an underlease ; the reservation of a rent which is granted without any fine or premium; reserves a rent not less than the greater full open market rental value of the best rent Property at the date the Property is underlet and which is payable at the Tenant ought reasonably to obtain in same times as the open market upon the grant Annual Rent under this Lease (but this shall not prevent an underlease providing for a rent-free period of such underlease and the Rent then payablea length permitted by clause 13.3.3); incorporates provisions for the review of rent at the same times dates and on the same basis as the review of rent in this Lease, unless the term of the underlease does not extend beyond the next Review Date; a covenant by the undertenant, enforceable by and expressed to be enforceable by the Landlord (as 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 and the tenant covenants in this Lease, except the covenants to pay the rents reserved by this Lease; is (so far as is consistent with an underlease) in a form substantially and provisions requiring the same as the Lease except that further subletting shall not be prohibited; before the underlease is completed, or, if earlier, before the undertenant becomes contractually bound to take the underlease, is validly excluded from the operation of sections 24 to 28 (inclusive) consent of the Landlord to be obtained in respect of any matter for which the consent of the Landlord is required under this Lease, and shall otherwise be consistent with and include tenant covenants no less onerous (other than as to the Annual Rent) than those in this Lease. In relation to any underlease granted by the Tenant, the Tenant Xxx 0000shall: not vary the terms of the underlease nor accept a surrender of the underlease without the consent of the Landlord, such consent not to be unreasonably withheld; enforce the tenant covenants in accordance with the provisions underlease and not waive any of section 38A of that Act and them nor allow any reduction in the relevant Schedules of [rent payable under the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 ("the Order")underlease; and Is not granted until the Tenant produces ensure that in relation to the Landlord adequate evidence of such valid exclusion as referred to in clause 11.8.5. The Tenant shall enforce and shall not waive or vary the provisions of an underlease and shall operate at the relevant dates of any rent review the revised rent review provisions contained in an underlease but shall is not agree the rent upon such a review agreed without the prior approval of the Landlord, such approval not to be unreasonably withheld.

UNDERLETTINGS. The Tenant shall not underlet a part (as distinct from the whole) of the Premises. The Tenant shall not underlet the whole of the Premises unless Property or any Permitted Part of the proposed Property except in accordance with this clause nor without the consent of the Landlord, such consent not to be unreasonably withheld. The Tenant shall not underlet part only of the Property (save for a letting or lettings of any permitted part of the Property). The Tenant shall not underlet the Property: together with any property or any right over property that is not included within this lease; at a fine or premium or reverse premium; nor allowing any rent free period to the undertenant that exceeds the period as is then usual in the open market in respect of such a letting. The Tenant shall not underlet the Property unless, before the underlease is granted, the Tenant has first covenanted given the Landlord: a certified copy of the notice served on the undertenant, as required by section 38A(3)(a) of the LTA 1954, applying to the tenancy to be created by the underlease; and a certified copy of the declaration or statutory declaration made by the undertenant in accordance with the requirements of section 38A(3)(b) of the LTA 1954. Any underletting by the Tenant shall be by deed with and shall include: an agreement between the Landlord in such form as the Landlord may reasonably require that with effect from the date of the underlease Tenant and during the period whilst the undertenant remains bound by the tenant covenants of the underlease the undertenant will observe and perform all that the provisions of sections 24 to 28 of the underlease LTA 1954 are excluded from applying to be observed and performed the tenancy created by the undertenantunderlease; nor (where the proposed undertenant is reservation of a corporate body and the Landlord reasonably so requires) without first procuring a covenant by deed with the Landlord from two individuals who are or a company rent which is acceptable to the Landlord as surety for the undertenant; nor except by way of a “permitted underlease”; nor without the prior written consent of the Landlord (which will not be unreasonably withheld) or any superior Landlord (if applicable) or of any mortgagee or charge of the Landlord or any superior Landlord (if applicable). A “permitted underlease” is an underlease which is granted without any fine or premium; reserves a rent not less than the greater full open market rental value of the best rent Property at the date the Property is underlet and which is payable at the Tenant ought reasonably to obtain in same times as the open market upon the grant Annual Rent under this lease (but this shall not prevent an underlease providing for a rent-free period of such underlease and the Rent then payablea length permitted by clause c); incorporates provisions for the review of rent at the same times dates and on the same basis as the review of rent in this lease, unless the term of the underlease does not extend beyond the next Review Date; a covenant by the undertenant, enforceable by and expressed to be enforceable by the Landlord (as 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 Leaseunderlease and any document that is supplemental or collateral to it and the tenant covenants in this lease, except the covenants to pay the rents reserved by this lease; is (so far as is consistent with an underlease) in a form substantially and provisions requiring the same as the Lease except that further subletting shall not be prohibited; before the underlease is completed, or, if earlier, before the undertenant becomes contractually bound to take the underlease, is validly excluded from the operation of sections 24 to 28 (inclusive) consent of the Landlord to be obtained in respect of any matter for which the consent of the Landlord is required under this lease, and shall otherwise be consistent with and include tenant covenants no less onerous (other than as to the Annual Rent) than those in this lease In relation to any underlease granted by the Tenant, the Tenant Xxx 0000shall: not vary the terms of the underlease nor accept a surrender of the underlease without the consent of the Landlord, such consent not to be unreasonably withheld; enforce the tenant covenants in accordance with the provisions underlease and not waive any of section 38A of that Act and them nor allow any reduction in the relevant Schedules of [rent payable under the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 ("the Order")underlease; and Is not granted until the Tenant produces ensure that in relation to the Landlord adequate evidence of such valid exclusion as referred to in clause 11.8.5. The Tenant shall enforce and shall not waive or vary the provisions of an underlease and shall operate at the relevant dates of any rent review the revised rent review provisions contained in an underlease but shall is not agree the rent upon such a review agreed without the prior approval of the Landlord, such approval not to be unreasonably withheld.