Common use of Right to underlet Clause in Contracts

Right to underlet. The Tenant may, with the Landlord’s consent, underlet the whole of the Premises [or the whole of a Permitted Part] by an Approved Underlease to an Approved Underlessee. The Tenant must not waive any material breach by any underlessee of the Approved Underlease. The Tenant must not reduce, defer, accelerate or commute any rent payable under the Approved Underlease. On any review of the rent payable under the Approved Underlease, the Tenant must: review the rent of the Approved Underlease in compliance with its terms; not agree the reviewed rent (or the appointment of any third party to decide it) without the Landlord’s approval; include in the Tenant’s representations to any third party any representations that the Landlord may require; and notify the Landlord what the reviewed rent is within two weeks of its agreement or resolution by a third party. The Tenant must not vary the terms or accept any surrender of any Approved Underlease without the Landlord’s approval. Base Rent and Turnover Rent9 This Schedule 9 uses the following definitions: “Annual Turnover Certificate” the certificate to be provided by the Tenant in accordance with paragraph 4.1;

Right to underlet. The Tenant may, with the Landlord’s consent, underlet the whole of the Premises [or the whole of a Permitted Part] by an Approved Underlease to an Approved Underlessee. The Tenant must not waive any material breach by any underlessee of the Approved Underlease. The Tenant must not reduce, defer, accelerate or commute any rent payable under the Approved Underlease. On any review of the rent payable under the Approved Underlease, the Tenant must: review the rent of the Approved Underlease in compliance with its terms; not agree the reviewed rent (or the appointment of any third party to decide it) without the Landlord’s approval; include in the Tenant’s representations to any third party any representations that the Landlord may require; and notify the Landlord what the reviewed rent is within two weeks of its agreement or resolution by a third party. The Tenant must not vary the terms or accept any surrender of any Approved Underlease without the Landlord’s approval. Base Rent and Turnover Rent9 This Schedule 9 uses the following definitions: “Annual Turnover Certificate” the certificate to be provided by the Tenant in accordance with paragraph 4.1;Additional User Provisions8 User provisionsPart 1