NOT TO ASSIGN OR UNDERLET
PART OF THE PREMISES OR OTHERWISE PART WITH POSSESSION OR SHARE THE OCCUPATION
OF THE PREMISES OR ANY PART OF THEM OTHER THAN ON THE SAME BASIS AS SUB-CLAUSE
(4.15.10(C) BELOW (APPLYING MUTATIS MUTANDIS TO THE SUB-TENANT)
(B)
BY RESERVING AS A YEARLY RENT WITHOUT PAYMENT
OF A FINE OR PREMIUM (IN ADDITION TO THE SERVICE AND INSURANCE AND OTHER RENTS
PAYABLE UNDER THIS LEASE EXCEPT THE RENT FIRST HEREBY RESERVED OR (IN THE CASE
OF UNDERLETTING OF A PERMITTED PART) A PRO RATA PROPORTION OF THEM) AN AMOUNT
NOT LESS THAN:
(1)
(IN THE CASE OF AN UNDERLETTING OF THE
PREMISES) THE THEN OPEN MARKET RENT OF THE PREMISES
(2)
(IN THE CASE OF AN UNDERLETTING OF A
PERMITTED PART) THE THEN OPEN MARKET RENT OF THE PERMITTED PART (NOTWITHSTANDING
THAT THIS MAY BE LESS THAN A PRO-RATA PROPORTION OF THE THEN OPEN MARKET RENT OF
THE PREMISES AS A WHOLE)
(C)
BY A FORM OF UNDERLEASE:
(1)
BY WHICH THE PRINCIPAL RENT RESERVED BY THE
UNDERLEASE IS REVIEWED UPWARDS ONLY AT EACH OF THOSE REVIEW DATES WHICH WILL
18
OCCUR DURING THE SUB TERM IN ACCORDANCE WITH THE SAME PRINCIPLES (MUTATIS
MUTANDIS) AS APPLY TO THE RENT FIRST RESERVED BY THIS LEASE
(2)
REQUIRING THE UNDERLESSEE TO OBSERVE AND
PERFORM ALL THE COVENANTS AND OTHER PROVISIONS BINDING ON THE TENANT UNDER THIS
LEASE (OTHER THAN THE COVENANT BY THE TENANT TO PAY THE SEVERAL RENTS RESERVED
HEREUNDER) TO THE EXTENT THEY RELATE TO THE PREMISES AND CONTAINING:
(A)
A CONDITION FOR RE-ENTRY BY THE UNDERLESSOR
ON BREACH OF ANY COVENANT BY THE UNDERLESSEE
(B)
A QUALIFIED COVENANT NOT TO ASSIGN OR
UNDERLET THE WHOLE OF THE PREMISES AND AN ABSOLUTE COVENANT NOT TO ASSIGN OR
UNDERLET PART OF THE PREMISES OR TO OTHERWISE PART WITH POSSESSION OR SHARE THE
OCCUPATION OF THE PREMISES OR ANY PART OF THEM SAVE BY WAY OF GROUP COMPANY
SHARING
(C)
WHEREBY THE PROVISIONS OF SECTIONS 24 TO 28
INCLUSIVE OF THE LANDLORD AND TENANT ACT 1954 HAVE BEEN EXCLUDED IN RELATION TO
THE UNDERLEASE IN ACCORDANCE WITH SECTION 38A OF THE LANDLORD AND TENANT ACT
1954 BEFORE THE UNDERLEASE IS GRANTED OR IF EARLIER THE UNDERLESSEE BECOMES
CONTRACTUALLY BOUND TO TAKE IT
(D)
WITH THE LANDLORD'S CONSENT ISSUED WITHIN THREE
MONTHS BEFORE COMPLETION OF THE UNDERLETTING WHICH CONSENT (SUBJECT TO
COMPLIANCE WITH THE FOREGOING CONDITIONS PRECEDENT) SHALL NOT BE UNREASONABLY
WITHHELD OR DELAYED
4.15.10
IN RELATION TO AN UNDERLEASE OF A PERMITTED PART:
(A)
NOT TO INCLUDE IN THE SUB-DEMISE THE WHOLE OR
ANY PART OF THE ENTRANCE TO OR THE RECEPTION AREA OF THE PREMISES
(B)
TO EXCEPT FROM THE UNDERLEASE ALL NECESSARY
CIRCULATION AREAS AND PLANT AND EQUIPMENT WHICH WILL SERVE THE PREMISES IN
COMMON
(C)
NOT AS A RESULT OF THE GRANT TO CREATE OR
PERMIT THE CREATION OF MORE THAN TWO SEPARATE OCCUPATIONS AFFECTING THE WHOLE OF
EACH FLOOR OF THE PREMISES (OCCUPATIONS UNDER THIS LEASE COUNTING AS ONE
OCCUPATION SAVE WHERE