Commercial Leases · glossary
Passing a lease on to someone else. Here it takes three forms: assignment, underletting and sharing with a group company. Clause 5.6 forbids any dealing with part of the floor, and allows the whole to be passed on only with Fellgate's consent, except by sharing. Lease 5.6 · Chapter 8 · see Assignment, Underletting, Group sharing
Explained in Chapter 8, Assignment and Underletting, of Commercial Leases.
Also explained in Legal Due Diligence.
A lease is an asset, and a tenant may want to pass it on before it ends. Passing a lease on is called alienation. Three forms of it matter here…Read Chapter 8, Assignment and Underletting →
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