☐ Subletting is not permitted. The Tenant will not assign this agreement in all or all of demised`s premises, nor will it proceed or approve a total or partial sublease or any other transfer of part or any premises. The lessee has the right, even without the agreement of the lessor, to transfer this lease to a company with which the lessee may merge, to a subsidiary under common control with the lessee or to a buyer of all the tenant`s property. With the exception of the foregoing, the lessee may not sublet all or part of the rented premises or assign all or part of this rental agreement without the agreement of the lessor, without such consent being inappropriately refused or delayed. If you are a small contractor who needs offices, or the owner of a building who wants to rent units in your building, this document is necessary to remind everyone of their obligations and clarify expectations. When negotiating this type of agreement, both the landlord and tenant should clarify any concerns they may have about how the space is being used and what is needed for the business. The owner reserves the right to enter the premises demised at any time in case of emergency and during normal opening hours, after prior written notification, in order to inspect them and repair the damaged premises and any part of the land or community property without reduction of rent. (B) Subordination. The lessee undertakes to make this agreement subject, at the request of the lessor, to a mortgage placed by the lessor on the land premises or immovable property or one or more of them, provided that the holder of such a hypothec concludes with the lessee a binding agreement for the successors and assignments of the parties, under which the said holder undertakes: not to disturb the property, peaceful and calm enjoyment and other rights of the tenant within the framework of this agreement. As long as the tenant continues to fulfil his obligations under this contract, in the event of the acquisition of property by that holder through enforcement or other proceedings, the landlord agrees to accept the tenant as a tenant of the premises demised in accordance with the terms of this agreement and to fulfill the lessor`s obligations under this contract (but only as the owner of the demised Premises), and the tenant undertakes to recognize this holder or any other person who acquires ownership of the premises demiseden as lessor. The Parties undertake to implement and provide all appropriate instruments necessary for the implementation of the agreements contained therein.
The document is perfect for simple business leases over shorter periods. It clearly defines the rights and obligations of the landlord and tenant and provides for options such as sureties and exclusion from S. 24 to 28 of the Landlord and Tenant Act 1954, as well as adaptation by both parties for certain rights and obligations on the property for rent. Accordingly, tenants and landlords should carefully negotiate the terms of this agreement to ensure that each party is properly protected and that obligations are clearly defined.. . .