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Dealing Notes

LPC Law Notes > Property Law and Practice Notes

This is an extract of our Dealing document, which we sell as part of our Property Law and Practice Notes collection written by the top tier of Cambridge And Oxilp And College Of Law students.

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DEALING
Clause 4.1 → Clause 1.14 → Schedule IV, Para. 11 - Dealing
Clause 2.8: "Any provision indicating that L's consent or approval is not to be unreasonably withheld will be construed as though it also provided that the consent or approval is not to be unreasonable delayed.
Clause 4.1 → Clause 1.14 → Schedule IV, Para. 19 - Licence Fees: T covenants "to pay all reasonable costs and other expenses incurred by L in relation to every application made by T for a consent or licence under this lease whether it is granted, refused, withdraw, or offered subject to qualifications or conditions".
Part of the Premises?
Whole of the Premises?
Permitted?
Not permitted
Permitted subject to consent & conditions
Sch. IV, Para. 11.1
Sch. IV, Para. 11.3
 Express restrictive covenant - absolute
 Express restrictive covenant - fully qualified
 "Not to assign … part only of the Premises."
 "Not to assign … the whole of the Premises without first obtaining the written consent of L (such consent not to be unreasonably withheld)."
 Clause 2.8: L cannot unreasonably delay consent.

Assignment


Lease provision(s)

Statutory Impact
(if any)

Sch. IV, Para 11.4 - Conditions:
 T must comply with the conditions [referred to in para.

11.3(b)]:
o Outgoing T must give an AGA to L
o Incoming T will need a guarantor if it has poor covenant strength
Sch. IV, Para 11.5 - Circumstances:
 T must satisfy the circumstances [referred to in para. 11.3(c)]:
o T cannot have any rent or other monies outstanding

Incoming T must, in L's reasonable opinion, have similar covenant strength to outgoing T to be able to comply with the Tenant's Covenants [cl. 1.14]
S.19(1A) L&TA 1927: L & T may agree conditions for consent and circumstances for refusal - given in the paragraph.
S.19(1)(a) L&TA 1927: turns qualified covenant into fully qualified
- already in paragraph
S.1 L&TA 1988: consent/reasons for refusals not to be unreasonably delayed - provided for in Clause 2.8.

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