Commercial Leases · glossary
Two things in the lease. Linnet must remove its alterations and make good only if Fellgate asks by notice at least three months before the end of the Term, which includes an early end on the break (clause 5.4(d)). Fellgate must also rebuild after insured damage (clause 7.4). Lease 5.4 · Chapter 7 · Chapter 5 · see Licence for alterations, Yield up
Explained in Chapter 7, Alterations and Use, of Commercial Leases.
Fellgate, in turn, must use the insurance money to rebuild as soon as reasonably possible. This is reinstatement (clause 7.4). If the floor still cannot be used three years after the damage, either side may end the lease by notice. Fellgate then keeps the insurance money (clause 7.5).Read Chapter 5, Service Charge and Insurance →
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