Document:

EXHIBIT 10.2

 EXHIBIT 10.2 
 DATED 19 March 1999 
 COURTLANDS DEVELOPMENTS
LIMITED (1) 
 and 
 LEARNING TREE INTERNATIONAL LIMITED (2) 
 and 
 LEARNING TREE INTERNATIONAL INC. (3) 
  

 Lease 
 of 
 Euston House 
 24 Eversholt Street London NWI 
  

 Norton Rose 
 London 

 CONTENTS 
  

					
	 Clause
	 	 Heading
	  	Page
	 1
	 	Interpretation	  	3
			
	 2
	 	Demise	  	6
			
	 3
	 	Rent Review	  	7
			
	 4
	 	Tenant’s Covenants	  	8
			
	 5
	 	Landlord’s Covenants	  	27
			
	 6
	 	Provisos	  	28
			
	 7
	 	Surety’s Covenant	  	34
		
	 Schedule
	  	
			
	 1
	 	Part I - The Demised Premises	  	35
			
	 1
	 	Part II - Rights Excepted and Reserved	  	36
			
	 1
	 	Part III - Brief particulars and documents referred to in clause 2	  	38
			
	 2
	 	Rent Review	  	39
			
	 3
	 	Authorised Guarantee	  	39
		
	 Annexure
	  	
			
	 A
	 	Landlord’s Works	  	
			
	 B
	 	Tenant’s Improvements	  	

 H.M. LAND REGISTRY 
 LAND REGISTRATION ACTS 1925-1986 
  

			
	London Borough or County:	 	Camden
	and District	 	
		
	Title No.	 	310127 323279 224978 403961 104963
		
	Property	 	Euston House, 24 Eversholt Street,
		 	London, NW1
		
	THIS LEASE made the	 	19 day of March 1999

 BETWEEN 
  

	(1)	COURTLANDS DEVELOPMENTS LIMITED (registered number 00871088) whose registered office is at Chelsea House Westgate London W5 1DR 

  

	(2)	LEARNING TREE INTERNATIONAL LIMITED (registered number 1392643) whose registered office is at Mole Business Park Leatherhead Surrey KT22 7AD 

  

	(3)	LEARNING TREE INTERNATIONAL INC. whose registered office is at 6053 West Century Boulevard Suite 200 PO Box 45028 Los Angeles California 90045 USA 

WITNESSES as follows: 
  

	1	Interpretation 

  

	1.1	Definitions 

  

	 	In this Lease unless the context otherwise requires the following expressions shall have the following meanings: 

  

	 	“Base Rate” means the base rate of National Westminster Bank plc (or such other member of the Committee of London Clearing Houses as the Landlord may from time to
time specify for this purpose) from time to time ruling or if the same shall become incapable of determination such reasonable rate of interest as the Landlord may from time to time specify in substitution therefor 

  

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	 	“Basic Rent” means the clear yearly rent of Two million six hundred and fifty thousand pounds (£2,650,000.00) as increased from time to time pursuant to the
Second Schedule 

  

	 	“Demised Premises” means the land and premises more particularly described in Part I of the First Schedule and any part thereof together with all buildings now or
hereafter erected thereon all additions alterations and improvements thereto and the fixtures and fittings therein (other than tenant’s and trade fixtures and fittings) 

  

	 	“Environment” means “the environment” as defined in the Environmental Protection Act 1990. 

  

	 	“Hazardous Material” means all and any material and/or substances which are harmful or potentially harmful to human health property or the Environment or which are
otherwise toxic noxious dangerous or deleterious 

  

	 	“Insured Risks” means the risks of fire storm tempest flood lightning explosion terrorism and in peacetime aircraft and articles dropped therefrom malicious damage
impact plant and machinery cover overflowing of tanks bursting of pipes and such other risks as the Landlord shall from time to time insure (subject in all cases to any excesses exclusions and limitations imposed by the insurers or underwriters)
except always such risks as cannot reasonably be insured by the Landlord on satisfactory terms or at a reasonable premium or as the Landlord’s insurers or underwriters have refused to insure 

  

	 	“Landlord” means the party of the first part and includes the estate owner for the time being of the reversion immediately expectant on the Termination of the Term

  

	 	“Landlord’s Surveyor” means any firm or person (including a Chartered Surveyor employed by the Landlord but not the Surveyor appointed to determine the rent on
review) appointed by or acting for the Landlord in the role of or to perform the function of a surveyor for any purpose under this Lease 

  

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	 	“Permitted Use” means use as offices within the meaning of Class Bl of the Use Classes Order save as specified in sub-paragraph 4.19(b) 

  

	 	“Permitted Part” means a whole floor or part floor (and for the avoidance of doubt a part floor means only part of a floor which is directly accessible from any of
the lifts, stairs or lobbies in the Demised Premises) of the Demised Premises (excluding the lifts staircases lift lobbies and toilets) or a combination of such whole and/or part floors 

  

	 	“Perpetuity Period” means the period expiring on the sooner of eighty years after the date hereof and the Termination of the Term 

  

	 	“Planning Acts” means the Town & Country Planning Act 1990 the Planning (Listed Buildings and Conservation Areas) Act 1990 the Planning (Hazardous
Substances) Act 1990 the Planning (Consequential Provisions) Act 1990 the Planning and Compensation Act 1991 and any Act for the time being in force of a similar nature or any laws and regulations intended to control or regulate the construction
demolition alteration or change of use of land or buildings or to preserve or protect the environment or the national heritage 

  

	 	“Prescribed Rate” means three per centum per annum above Base Rate compounded with rests on the Rent Days such rate to apply as well after as before any judgment

  

	 	“Rent Days” means 25th March 24th June 29th September and 25th December in each year and ‘Relevant Rent Day” shall be
construed accordingly 

  

	 	“Surety” means the party of the third party only 

  

	 	“Tenant” means the party of the second part and includes its successors in title and assigns 

  

	 	“Term” means the term hereby granted and shall include any extension holding over or continuation thereof whether by statute agreement or otherwise

  

	 	“Termination of the Term” means the determination of the Term whether by effluxion of time re-entry or otherwise howsoever 

  

	 	“this Lease” means this Lease any licence or consent granted pursuant hereto as varied or supplemented from time to time by and any deed or instrument made
supplemental hereto 

  

	 	“Use Classes Order” means the Town & Country Planning (Use Classes) Order 1987 

  

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	 	“Value Added Tax” means tax chargeable pursuant to the Value Added Tax Act 1983 and any similar tax which may supplement or replace it 

  

	1.2	Construction 

  

	 	This Lease shall unless the context otherwise requires be construed on the basis that: 

  

	 	(a)	where any covenant and/or obligation is undertaken by two or more persons jointly they shall be jointly and severally liable in respect of that covenant and/or obligation

  

	 	(b)	the Term shall be deemed to commence for all purposes on the date of commencement specified in Clause 2 

  

	 	(c)	references to any Act of Parliament order instrument regulation direction or plan shall be deemed also to refer to any statutory or other modification or re-enactment thereof from
time to time in force and any order instrument regulation direction or plan from time to time in force made or issued thereunder or deriving validity therefrom or from any enactment repealed thereby or under any such modification or re-enactment

  

	 	(d)	any covenant on the part of the Tenant not to include an obligation on the part of the Tenant such act or thing 

  

	 	(e)	words denoting one gender include the oth denoting persons include firms and corporations 

  

	 	(f)	clause and paragraph headings shall not affect Lease 

  

	2	Demise 

  

	 	In consideration of the rents hereby reserved and the covenants on the part of the Tenant and of the Surety and the conditions hereinafter contained the Landlord at the request of
the Surety HEREBY DEMISES to the Tenant the Demised Premises EXCEPTING AND RESERVING unto the Landlord and to all other persons from time to time entitled thereto the rights set out in Part II of the First Schedule TO HOLD the
same unto the Tenant SUBJECT TO all rights of light and air and all covenants easements rights and privileges (if 

  

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	 	any) affecting the Demised Premises and in particular (but without prejudice to the generality of the foregoing) the rights covenants and other matters more particularly contained
or referred to in the documents short particulars whereof are set out in Part III of the First Schedule FOR a tern of twenty years commencing on the 29th day of January One thousand nine hundred and ninety nine YIELDING AND PAYING
therefor unto the Landlord without deduction (except such as the Tenant may be required by law to deduct notwithstanding any stipulation to the contrary):- 

  

	2.1	Basic Rent 

  

	 	Yearly during the Tern and so in proportion for any period less than a year until the 6th day of April 1999 the rent of a peppercorn and thereafter the Basic Rent such rent to be
paid whether or not demanded by equal quarterly payments in advance on each of the Rent Days except the first payment which shall be made on the 7 April 1999 in respect of the period from and including the 7th day of April One thousand nine hundred and ninety nine to (but excluding) the Rent Day next following the 7th day of April One thousand nine hundred
and ninety nine 

  

	2.2	Insurance Rent 

  

	 	By way of further rent on demand an amount equal to the cost of insurance incurred from time to time in respect of the Demised Premises and of the valuation for insurance purposes
respectively referred to in Clauses 4.1(b) and (c) 

  

	2.3	Further Rent 

  

	 	By way of further rent all interest and other amounts payable under this Lease 

  

	2.4	Value Added Tax 

  

	 	The Value Added Tax which from time to time is or may be chargeable (by reason of an election of the Landlord or otherwise) in respect of the rents reserved by Clauses 2.1 2.2 and
2.3 of this Lease 

  

	3	Rent Review 

  

	 	The Basic Rent shall be reviewed and (if appropriate) increased at the times and in manner set out in the Second Schedule 

  

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	4	Tenant’s Covenants 

  

	 	The Tenant COVENANTS with the Landlord as follows:- 

  

	4.1	Pay Rents 

  

	 	To pay to the Landlord: 

  

	 	(a)	the Basic Rent and other rents payable under this Lease at the times and in manner as herein provided in this Lease without any deduction or set off except as aforesaid the Basic
Rent and any Value Added Tax to be paid by means of a banker’s standing order or such other method as the Landlord may reasonably require 

  

	 	(b)	on demand an amount equal to the full amount without deduction of any agency or other commission paid or allowed to the Landlord (which the Landlord shall be entitled to retain for
its own benefit free of any obligation to bring the same into account under this Lease) of every premium payable and other payment incurred by the Landlord from time to time during the Term in effecting and maintaining insurance:-

  

	 	(i)	in accordance with the provision of Clause 5.2(a) and 

  

	 	(ii)	for the benefit of the Landlord against property owners and third party liabilities arising in relation to the Demised Premises including but not limited to those arising under the
Defective Premises Act 1972 

  

	 	(c)	on demand an mount equal to the cost incurred by the Landlord of obtaining from time to time a professional valuation of the Demised Premises for insurance purposes provided that
the Tenant shall not be required to reimburse such costs more than once in every three years 

  

	 	(d)	if the Demised Premises shall be destroyed or damaged by any of the Insured Risks on demand an mount equal to any applicable excess under any insurance effected by the Landlord
under or for the purposes of this Lease 

  

	4.2	Pay Outgoings 

  

	 	(a)	To pay and discharge all existing and future rates taxes duties charges assessments impositions and outgoings whatsoever (whether parliamentary parochial local or of any other
description and whether or not of a capital or revenue or non-recurring nature and even though of a wholly novel character) which are now or may at any time hereafter be assessed charged levied or imposed or payable (i) in

  

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	 	 	respect of the Demised Premises or (ii) on or by any estate owner landlord tenant or occupier in respect thereof except (subject to sub-clauses 4.31(d) and 4.32 and Clause
6.16) any tax payable by the Landlord as a direct result of the ownership of or an actual dealing by the Landlord with its reversionary interest in the Demised Premises or the receipt by the Landlord of the Basic Rent or any other payment made by
the Tenant under this Lease) 

  

	 	(b)	If the Demised Premises shall at any time during the Term be unoccupied for any period during which the Tenant or any other person shall be entitled to claim or take the benefit of
any relief from the payment of general rates or other outgoings and in consequence the amount of any claim to or benefit of similar relief which would otherwise be available to the Landlord in respect of any period following the Termination of the
Term if the Demised Premises were vacant shall or may be reduced or lost to pay to the Landlord on demand in respect of such period an amount equal to the whole amount of the value to the Landlord of the claim or benefit which is not available to
the Landlord and which would otherwise have been available to the Landlord in respect of the Demised Premises had the same been fully occupied throughout the Term and left unoccupied thereafter (no account being taken of any period or consecutive
periods of actual occupation by any person after the Termination of the Term and which is or are together insufficiently long to warrant another period free of void rates when it or the last of them ends) 

  

	4.3	Common Expenses 

  

	 	Without prejudice to the generality of any other covenant by the Tenant to pay on demand a fair proportion of the costs and expenses of making repairing maintaining lighting
insuring connecting and cleansing all ways roads pavements sewers drains pipes channels watercourses gutters wires cables boundary walls fences party walls structures passageways open areas and other conveniences which shall at any time belong to or
be used for the Demised Premises in common with other premises near or adjoining thereto the amount due in case of dispute to be assessed by the Landlord’s Surveyor whose decision shall be final and binding on all parties except in the case of
manifest error 

  

	4.4	Repair 

  

	 	To keep in good and substantial repair and condition and as necessary in whole or in part rebuild replace and renew (by way of repair only) and keep clean the Demised Premises
(including the exterior and structure) and the water ventilation sanitary apparatus heating and/or air conditioning apparatus 

  

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	 	and the walls fences roads and other paved areas sewers drains lifts plant and machinery and appurtenances thereof with all necessary reparations cleansing and rebuilding works and
amendments (by way of repair only) whatsoever (regardless of the age or state or dilapidation of the buildings for the time being comprised in the Demised Premises) and to replace from time to time all landlord’s fixtures fittings and
appurtenances in the Demised Premises which may be or become beyond repair at any time during the Term or at the Termination of the Term PROVIDED that there shall be excepted damage by any of the Insured Risks unless insurance of the Demised
Premises effected by the Landlord has been vitiated or prejudiced or payment of the insurance moneys refused in whole or in part as a consequence of any act or default of the Tenant or any undertenant or their respective servants agents licensees or
visitors 

  

	4.5	Decoration maintenance and cleaning 

  

	 	Without prejudice to the generality of the foregoing covenant: 

  

	 	(a)	as to the exterior of the Demised Premises at intervals of not more than three years and as to the interior thereof at intervals of not more than five years and also as to both
interior and exterior during the last three months prior to or at the Termination of the Term to have prepared and painted or otherwise decorated or heated (as the case may be) all surfaces and other portions fabrics and finishes (i) usually
painted with two coats at least of good quality paint or (ii) otherwise decorated or treated with best quality materials and so often as may be necessary to have professionally treated in accordance with the good approved manner for preserving
and protecting the same all other parts of the Demised Premises requiring treatment for preservation and protection and as and when necessary to clean make good and treat with suitable preservative any rough cast stucco work block panels or walk

  

	 	(b)	to carry out such painting decoration or other treatment in a proper and workmanlike manner to the reasonable satisfaction of the Landlord and in accordance with such reasonable
directions in regard thereto as may from time to time be communicated to the Tenant by or on behalf of the Landlord and during the last three months prior to or at the Termination of the Term in colours tints and materials previously approved in
writing by the Landlord (such approval not to be unreasonably withheld) 

  

	 	(c)	to replace all broken or damaged glass in the Demised Premises as and when the same is broken or damaged with glass of the same colour tint and specification

  

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	 	(d)	to keep any areas not covered by buildings clear of all rubbish and free from weeds and in a neat and tidy condition and all grassed areas thereon regularly mown all borders therein
properly stocked and tended all trees thereon properly lopped topped and pruned (including cutting back roots) and as necessary to fell and grub up the roots of any diseased or dangerous trees 

  

	 	(e)	to clean all windows (both externally and internally) and the window frames and other glass comprised in the Demised Premises as necessary 

  

	 	(f)	to procure that all electrical and mechanical plant and equipment (including lifts boilers central heating and air conditioning equipment) is properly and regularly serviced and
maintained by qualified persons approved in writing by the Landlord (such approval not to be unreasonably withheld or delayed) under appropriate maintenance contracts and whenever required to produce the originals of such contracts for inspection by
the Landlord and to supply copies to the Landlord 

  

	4.6	Yield up 

  

	 	(a)	To carry out such work to the Demised Premises as is necessary to ensure that at the Termination of the Term the Demised Premises are fitted out to the standard set out in the
specification marked A Landlord’s Works annexed hereto 

  

	 	(b)	To yield up the Demised Premises to the Landlord at the Termination of the Term so painted treated rebuilt replaced renewed repaired cleansed maintained amended and kept as
aforesaid and otherwise as shall be in accordance with the covenants and conditions contained in or imposed by virtue of this Lease and the keys and all fixtures (other than tenant’s or trade fixtures) of every kind in or upon the Demised
Premises or which during the Term may be affixed or fastened to or upon the same and prior to the Termination of the Term to the reasonable satisfaction of the Landlord: 

  

	 	(i)	in case any of the said fixtures shall be missing broken damaged destroyed or beyond repair forthwith to replace them with others of a similar or more modem character and of no less
value and 

  

	 	(ii)	unless released from compliance by written notice given by the Landlord prior to the Termination of the Term to remove from the Demised Premises all tenant’s and trade fixtures
and fittings and partitions and furniture and effects and in the event of any alterations having been made to the Demised Premises to 

  

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	 	 	reinstate the Demised Premises to the condition in which the same were prior to the making of such alterations and for the avoidance of doubt the tenant’s and trade fixtures
and fittings including without prejudice to the generality of the forgoing the specification marked B Tenant’s Improvements annexed hereto and to remove any moulding sign writing or painting of the name or business of the Tenant and other
persons from the Demised Premises and 

  

	 	(iii)	to make good any damage caused to the Demised Premises by any such reinstatement or removal or the removal of my fixtures fittings furniture or effects 

  

	4.7	Permit Entry for Landlord and others 

  

	 	To permit the Landlord and its servants agents contractors and workmen the Landlord’s Surveyor the Surveyor appointed for the purpose of any review of the Basic Rent and their
respective servants agents contractors and workmen with all necessary plant machinery equipment tools and appliances at all times in case of emergency and otherwise at any reasonable times on reasonable prior written notice without interruption or
interference to enter upon the Demised Premises and remain thereon for such reasonable period as shall be necessary: 

  

	 	(a)	to examine the Demised Premises to ensure that nothing has been done or omitted which constitutes or may be or tend to be a breach or non-performance of any of the covenants
contained in this Lease 

  

	 	(b)	to take schedules or inventories of the fixtures and things to be yielded up at the Termination of the Term 

  

	 	(c)	to exercise any rights excepted and reserved to the Landlord and for any other purpose connected with the interest of the Landlord in the Demised Premises or the disposal or charge
thereof 

  

	 	(d)	to enable the Landlord to comply with any of its covenants 

  

	 	(e)	to inspect and measure the Demised Premises and for all purposes connected with any intended or pending step under the provisions of Part II of the Landlord and Tenant Act 1954 or
the operation or implementation of the provisions of Clause 3 and the Second Schedule and the Tenant shall furnish such information for the said purposes as may reasonably be requested in writing by the Landlord or any other person who should be
permitted entry to the Demised Premises under this sub-clause 

  

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	 	(f)	for the purpose of inspecting and executing repairs additions or alterations to or upon or maintaining any adjoining or neighbouring premises the person exercising such rights
making good at its own costs to the Tenant all damage to the Demised Premises or contents thereby occasioned taking reasonable steps to cause as little inconvenience as possible to the Tenant 

  

	4.8	Remedy wants of repair and entry for Landlord on default 

  

	(a)	Forthwith to proceed to remedy repair and make good all breaches of covenant wants of repair and of decoration and defects of which written notice shall be given by the Landlord to
the Tenant and which the Tenant shall be liable to remedy repair or make good PROVIDED ALWAYS that if within two months from the date of such notice the Tenant shall fail to commence works to repair and make good the wants of reparation and
other matters prescribed in such notice or if the Tenant shall at any time make default in the performance of any of the covenants contained in this Lease for or relating to the repair decoration treatment preservation protection state or condition
of the Demised Premises (whether or not such a notice is given by the Landlord) to permit the Landlord and all persons authorised by the Landlord with workmen servants agents and others with or without plant machinery equipment tools and appliances
to enter into and stay upon the Demised Premises and repair decorate treat preserve protect and make good the same so as to comply with the said notice at the expense of the Tenant (but so that the Landlord’s right of re-entry or any other
right or remedy of the Landlord under this Lease shall not thereby be prejudiced) and to pay within 14 days of written demand the reasonable costs and expenses thereof together with interest thereon at the Prescribed Rate from the respective dates
of expenditure by the Landlord to the date of reimbursement which amounts shall be a debt due from the Tenant to the Landlord and recoverable at the option of the Landlord by action or as rent in arrear 

  

	(b)	To pay to the Landlord within 14 days of written demand all reasonable costs and expenses incurred by the Landlord after the Termination of the Term in repairing restoring painting
or otherwise treating the Demised Premises so as to put them into the state and condition required by the Tenant’s covenants together with interest thereon at the Prescribed Rate from the respective dates of expenditure by the Landlord to the
date of reimbursement 

  

	4.9	Letting and Dealing Boards 

  

	 	To permit the Landlord and its servants and agents at reasonable times upon reasonable notice during the Term to enter upon the Demised Premises and affix grid retain without
interference in a conspicuous position (but not so as 

  

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	 	materially to interfere with the access of light and air to the Demised Premises) notices for re-letting the same (if there be a possibility of the Term being determined) or selling
the Landlord’s interest in the Demised Premises and to permit all persons with written authority from the Landlord or the Landlord’s agents at reasonable times of the day and upon reasonable notice to enter and view the Demised Premises
without interruption 

  

	4.10	Notices 

  

	 	Immediately on receipt by the Tenant of any notice or communication from a competent authority affecting the Demised Premises or the use thereof to give to the Landlord a copy
thereof and in any event when the Tenant first becomes aware of the service of such a notice or of any circumstances likely to lead to service of such a notice to give to the Landlord full particulars of such notice or circumstances and to make or
join in making such objection or representation against or in respect of the same as the Landlord may reasonably require 

  

	4.11	Statutory Requirements 

  

	 	(a)	At the expense of the Tenant to comply with all present and future Acts of Parliament and subordinate legislation made thereunder relating to the Demised Premises or the use thereof
or the employment of persons therein and to execute at the Tenant’s own expense any work required to be carried out in or to the Demised Premises whether such work is required to be carried out by the owner or the occupier or any other person

  

	 	(b)	Not at any time to do or omit on or about the Demised Premises any act or thing by reason of which the Landlord may under any such Acts or subordinate legislation incur or have
imposed upon it or become liable to pay any levy penalty damages compensation costs charges or expenses 

  

	 	(c)	To obtain all licences permissions and consents and to execute and do all works and things and to bear and pay all expenses required or imposed by any such Acts or subordinate
legislation in respect of any works carried out by the Tenant on the Demised Premises or of any use thereof or of the employment of any persons therein 

  

	4.12	Planning 

  

	 	Without prejudice to the generality of the preceding sub-clause and except to the extent that the same may be undertaken by the Landlord in connection with 

 

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	 	the reinstatement of the Demised Premises pursuant to its covenant in that respect contained in Clause 5: 

  

	 	(a)	at the expense of the Tenant to comply with the provisions and requirements of the Planning Acts and all licences consents permissions and conditions now or hereafter existing
granted or imposed thereunder or under any enactment repealed thereby so far as the same are implemented and relate to or affect the Demised Premises or any operations works acts or things now or hereafter carried out executed done or omitted
thereon or the use thereof for any purpose 

  

	 	(b)	so often as occasion shall require at the expense of the Tenant to obtain from the Local Planning Authority or other competent authority all such licences consents and permissions
as may be required under the Planning Acts for any works to or operations on the Demised Premises or the institution or continuance of any use thereof but so that the Tenant shall not make any application for planning permission without the previous
written consent of the Landlord (which shall not be unreasonably withheld or delayed where the operations or use to be authorised are not otherwise prohibited by and where requisite have been approved by the Landlord under any relevant provisions of
this Lease relating to alterations or change of use) and to pay and satisfy any charge that may hereafter be imposed (whether on the Landlord or the Tenant or any other person) in respect of any such operations or of any such use as aforesaid

  

	 	(c)	notwithstanding any consent which may be granted by the Landlord not to carry out any works or any alteration or addition to the Demised Premises or any change of use thereof (being
works or an alteration or addition or change of use for which a planning permission needs to be obtained) before a planning permission therefor has been produced to the Landlord and acknowledged in writing as satisfactory to it PROVIDED that
the Landlord may refuse to express its satisfaction on the ground (inter alia) that the period thereof or anything contained therein or omitted therefrom in the reasonable opinion of the Landlord would be or be likely to be (whether during the Tern
or following the Termination of the Term) prejudicial to the Landlord’s interest in the Demised Premises or any adjoining or neighbouring land and property belonging to the Landlord 

  

	 	(d)	unless the Landlord shall otherwise direct to carry out before the Termination of the Term any works stipulated to be carried out to the Demised Premises by a date subsequent to the
Termination of the Term as a condition of any planning permission which may have been granted during the Term or implemented by the Tenant or any person deriving title under or through the Tenant before or during the Term 

 

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	 	(e)	if and when called upon so to do to produce to the Landlord or as directed by it to any third party all such plans documents and other evidence as the Landlord may reasonably
require in order to satisfy itself that the provisions of this covenant have been complied with in all respects 

  

	 	(f)	in any case where permission for any development has been granted subject to conditions the Landlord shall be entitled as a condition of giving its consent to the permitted
development to require the Tenant to provide security to the Landlord satisfactory to the Landlord for the compliance with such conditions and the development shall not be commenced or the use instituted until such security shall have been provided
to the satisfaction of the Landlord 

  

	 	(g)	not to do any thing to be done on or with reference to the Demised Premises which may be grounds for or cause or lead to the compulsory acquisition thereof 

 

	 	(h)	not to serve any purchase notice under the Planning Acts requiring any authority to purchase the interest of the Tenant in the Demised Premises 

  

	4.13	Alterations 

  

	 	(a)	(i)         Not to make any alterations or additions in or to the Demised Premises other than as may be permitted by

	 	                        paragraph	4.13(a)(ii) 

  

	 	(ii)	Not to make any internal non-structural alterations or additions (which do not involve any cutting maiming altering or injuring the demised premises) or any alterations required to
comply with the provisions of sub-clauses 4.11 and 4.12 of this Clause without first obtaining the written consent of the Landlord (which consent shall not be unreasonably withheld or delayed) 

  

	 	(iii)	Where in this Clause 4.13(a) the Landlord’s consent shall be required the Landlord shall be entitled as a condition of granting such consent require the Tenant to enter into
such covenants with the Landlord with regard to the execution of the works and the reinstatement thereof at the termination of the Term in such form as the Landlord may reasonably require 

  

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	 	(b)	To carry out and complete the work involved in all alterations to the Demised Premises in accordance with the terms of all consents with materials of suitable good quality in a
proper and workmanlike manner and to the reasonable satisfaction of the Landlord 

  

	 	(c)	On completion of the installation of anything which shall become part of the Demised Premises forthwith to give to the Landlord written notice of the same stating the full cost of
reinstatement thereof 

  

	 	(d)	If the Tenant or any other occupier of the Demised Premises shall carry out any building work alterations excavation change of use or any other development on or to the Demised
Premises to indemnify the Landlord against all liability whether immediate or consequential for any tax levy imposition or charge of whatsoever nature for which the Landlord may be or become liable as a result of the same and also against any
further liability to tax flowing from this indemnity or any payment pursuant to it and to repay to the Landlord within 14 days of written demand the amount thereof together with interest at the Prescribed Rate from the date of payment by the
Landlord to the date of such repayment and which sums in default of payment shall be recoverable at the option of the Landlord by action or as rent in arrears 

  

	4.14	Signs 

  

	 	Not without obtaining the prior written consent of the Landlord (such consent not to be unreasonably withheld or delayed) to affix to or display on or permit to be affixed to or
displayed on the Demised Premises any sign hoarding poster placard or advertisement whatsoever which shall be visible from the outside of the Demised Premises except such means of identification and other notices stating the name of the Tenant or
any other permitted occupier of the Demised Premises and the nature of its business as shall be reasonably necessary in connection with the use and occupation of the Demised Premises for the time being and shall first have been approved in writing
by the Landlord such approval not to be unreasonably withheld or delayed 

  

	4.15	Dangerous and Deleterious Substances 

  

	 	(a)	Not to keep on the Demised Premises any material or liquid of a dangerous corrosive combustible explosive radio-active volatile unstable or offensive nature or which might in any
way injure by percolation corrosion or otherwise the Demised Premises or the sewers and drains serving the same (except with the prior written consent of the Landlord and after giving due notice to any insurers of the Demised Premises and subject to
any requirements imposed by them (with which the Tenant shall comply) small quantities of inflammable materials 

  

 17 

	 	 	used in connection with the business carried on in the Demised Premises) or the keeping or use of which may contravene any statute order regulation or bye-law nor to stop up or
obstruct in any way or permit oil or grease or other deleterious liquid or matter to enter by any means the pipes drains sewers or watercourses serving the Demised Premises or any adjoining or neighbouring premises and in the event of such
obstruction or injury forthwith to remedy the same and make good all damage to the reasonable satisfaction of the Landlord 

  

	 	(b)	Not to permit the escape or leaching of any Hazardous Material from the Demised Premises into any adjoining or neighbouring land or premises 

  

	4.16	Fire precautions 

  

	 	At the expense of the Tenant to comply with all requirements (whether legally enforceable or not) from time to time of the appropriate authority and of any insurers of the Demised
Premises in relation to fire precautions affecting the Demised Premises and to keep and maintain sufficient fire fighting and extinguishing apparatus in and about the Demised Premises installed in compliance with such requirements and with any legal
requirements and open to inspection and maintained to the reasonable satisfaction of the Landlord and of any insurers of the Demised Premises and not to obstruct the access to or means of working of the same 

  

	4.17	Securing unoccupied premises 

  

	 	Throughout any period during which the Demised Premises are closed for business or are unoccupied whether or not furnished to keep the Demised Premises fully secured and to provide
such caretaking and other arrangements as may be necessary to give the Demised Premises reasonable protection from vandalism theft or unlawful occupation 

  

	4.18	Loadings 

  

	 	Not to impose or permit to be imposed (whether by using machinery or otherwise) on any part of the floors roof roof trusses ceilings or the structure of any building comprised in
the Demised Premises any load or weight greater than that which the same are designed or constructed to bear with due margin for safety nor to use the roof space for storage of goods nor by machinery or otherwise to cause or permit any undue
vibration to or nuisance by noise or otherwise in the Demised Premises 

  

	4.19	User 

  

	 	(a)	Not to use the Demised Premises or any part thereof:- 

  

	 	(i)	for residential purposes or as sleeping accommodation 

  

 19 

	 	(ii)	for any noisy noisome noxious offensive or dangerous trade art manufacture business or occupation or for any sale by auction public exhibition political meeting show spectacle or
gambling or for any illegal or immoral purpose 

  

	 	(iii)	in any way or for any purpose which may be or tend to become an annoyance nuisance damage disturbance or inconvenience to or prejudice the Landlord or the owners or occupiers of any
premises adjoining or near the Demised Premises or the neighbourhood 

  

	 	(b)	Without prejudice to the generality of the foregoing not to use the Demised Premises otherwise than for the Permitted Use Provided that for as long as Learning Tree International
Limited or some other company within the same group of companies (within the meaning of Section 42 of the Landlord and Tenant Act 1954) is the Tenant it may use the Demised Premises for the Permitted Use or for any use within Class Dl of the
Use Classes Order 

  

	4.20	Insurers requirements 

  

	 	(a)	To carry out at the Tenant’s expense such works and other precautions as may be required by any insurers of the Demised Premises in accordance with their directions and not to
carry on upon the Demised Premises or any adjoining property controlled by the Tenant any trade business or activity or do or permit any act or thing on or in relation to the Demised Premises which may make void or voidable any policy of insurance
of the Demised Premises or of any adjoining or neighbouring premises belonging to the Landlord or render any increased or extra premium payable for such insurance 

  

	 	(b)	To pay forthwith within 14 days of written demand to the Landlord the whole of the amount (including professional and other fees and costs) which should have been recoverable under
any insurance of the Demised Premises rendered irrecoverable as a consequence of any act or default of the Tenant or any undertenant or their respective servants agents licensees or visitors 

  

	4.21	Notify damage by Insured Risks 

  

	 	Forthwith upon becoming aware of the same to give immediate written notice to the Landlord of any destruction of or damage to the Demised Premises stating (if possible) whether and
to what extent the same was brought about directly or indirectly by any of the Insured Risks 

  

 19 

	4.22	Prevent encroachments 

  

	 	(a)	Not knowingly to permit any owner of any property adjoining or near the Demised Premises to acquire any rights of way light or air or other privilege or easement or make any
encroachment over against out of or upon the Demised Premises and as soon as the Tenant shall become aware thereof or of any act or thing which might result in the acquisition or making of any of the same to give immediate written notice thereof to
the Landlord and to adopt or permit the Landlord to adopt such means as may be necessary or convenient for preventing the acquisition or making of any of the same and at the cost of the Tenant to take consent to or bring all actions in the name of
the Tenant as the Landlord may think fit or (at the option of the Landlord) to join with the Landlord in taking such steps or action as may be reasonably required by the Landlord for preventing any of the same from being acquired or made

  

	 	(b)	Not without obtaining the prior written consent of the Landlord to stop up darken or obscure any windows or lights belonging to the Demised Premises 

  

	4.23	Alienation 

  

	 	(a)	Not to charge the Demised Premises without the prior written consent of the Landlord nor to assign or charge the Demised Premises in any part less than the whole

  

	 	(b)	Not to execute any declaration of trust with regard to the Demised Premises or any part thereof or this Lease 

  

	 	(c)	Not to part with or share possession or occupation of the Demised Premises or any part thereof other than in a manner permitted by this Clause 4.23 

  

	 	(d)	Not to share occupation of the Demised Premises or any part thereof Provided that subject to the Tenant giving not less than 14 days’ prior written notice to the Landlord in
writing of the identity of the company and of the part of the Demised Premises affected (if less than the whole) the Tenant may share occupation of the Demised Premises or the relevant part thereof with some other company within the same

  

 20 

	 	 	group of companies (within the meaning of Section 42 of the Landlord and Tenant Act 1954) as the Tenant and for so long only as such company shall remain within such group and
on terms whereby such company is not given exclusive occupation of the Demised Premises or any part thereof and no relationship of landlord and tenant is created Provided that any rent or other payment received by the Landlord from any such company
shall be deemed to have been paid by such company as agent for the Tenant 

  

	 	(e)	Not to underlet or permit to be underlet any part or parts of the Demised Premises which is not a Permitted Part and not to create more than three separate underlettings in the
Demised Premises 

  

	 	(f)	(i)         Not to underlet the Demised Premises or any Permitted Part thereof nor to permit the creation of any derivative

          underlease:- 
  

	 	(A)	at a fine or premium or any other consideration or at a rent which at the commencement of the term of such underletting is less than the full rack rental value thereof without fine
premium or any other consideration 

  

	 	(B)	at a rent payable more than two quarters in advance 

  

	 	(C)	other than on terms which shall contain provisions for review of the rent thereby reserved at such intervals no less frequent than shall be normal in the market for similar property
at the time of the grant thereof having regard to the terms of the proposed underlease 

  

	 	(D)	other than on terms which shall incorporate such provisions as are necessary to ensure that any such underlease or derivative underlease is consistent with and in all respects no
more or less onerous than the provisions of this Lease including (but without prejudice to the generality of the foregoing) provisions similar to those contained in this sub-clauses 4.23(f) and 4.23(h) 

  

	 	(E)	Not to underlet the whole or any part of the Demised Premises without ensuring that any immediate or derivative underlease shall be granted pursuant to an Order of a Court of
competent jurisdiction permitting the exclusion of the provisions of Sections 24 - 28 inclusive of the Landlord and Tenant Act 1954 (as amended) in relation to any such underlease and the tenancy created thereby and that the same shall provide
accordingly 

  

 21 

	 	(ii)	Not at any time during the Term to be a party or privy to an agreement or arrangement for commutation in whole or in part of the rent reserved by any underlease in consideration of
the payment of a lump sum or any other consideration 

  

	 	(iii)	Not upon a review of the rent reserved by any underlease of the whole or any part of the Demised Premises to agree the amount of any such reviewed rent without the prior written
consent of the Landlord (such consent not to be unreasonably withheld) 

  

	 	(g)	Not to assign the whole of the Demised Premises:- 

  

	 	(i)	without obtaining from the assignee a covenant by deed with the Landlord to pay the Basic Rent and all other rents reserved by this Lease and to observe and perform all the
covenants on the part of the Tenant and conditions contained in this Lease for the residue of the Term and 

  

	 	(ii)	if the assignee is a corporate body and the Landlord shall so require without obtaining from a Surety or Sureties reasonably acceptable to the Landlord a full guarantee of the
covenants of the assignee by deed in such form as shall be reasonably required by the Landlord 

  

	 	(h)	Not to underlet the Demised Premises without obtaining from the underlessee:- 

  

	 	(i)	a covenant by deed with the Landlord that the underlessee will throughout the term granted by the underlease:- 

  

	 	(A)	(in the case of an underletting of the whole of the Demised Premises) observe and perform all the covenants and conditions on the part of the Tenant (other than the covenant to pay
the Basic Rent) contained in this Lease 

  

	 	(B)	(in the case of an underletting of part only of the Demised Premises) observe and perform all the covenants and conditions on the part of the tenant (other than the covenant to pay
rent) contained in the underlease 

  

	 	(C)	not assign part only of the premises demised by the underlease 

  

 22 

	 	(D)	not assign the whole or sub-let or part with possession or occupation of the whole or any part of the premises demised by the underlease except in a manner and on terms permitted by
this Clause 4.23 nor without first obtaining the written consent of the Landlord under this Lease which consent shall subject to compliance with such requirements not be unreasonably withheld or delayed 

  

	 	(E)	procure that any derivative interest created out of such underlease shall contain provisions equivalent to those contained in sub-clauses 4.23(h)(i)(A) to 0) above

  

	 	(ii)	a covenant from the underlessee in the underlease (which covenant the Tenant shall use best endeavours to enforce) in the terms of sub-clauses 4.23(h) (i) (C) @) and
(E) above 

  

	 	(i)	Upon every application for consent required by this Clause 4.23 to disclose to the Landlord such information including as to the terms proposed as the Landlord may reasonably
require 

  

	 	(j)	Not to underlet the whole of the Demised Premises or underlet any part or parts thereof otherwise than in accordance with nor without in each and every such case first complying
with the foregoing provisions and subject thereto not without obtaining the prior written consent of the Landlord which consent shall not be unreasonably withheld or delayed 

  

	4.24	Conditions applicable to assignment 

  

	 	(a)	Not to assign or transfer the whole of the Demised Premises otherwise than in accordance with nor without in each and every such case first complying with the foregoing provisions
(so far as they are applicable to an assignment) and subject thereto not without the prior written consent of the Landlord which consent shall not be unreasonably withheld or delayed and for this purpose and for the purposes of section 19(1A) of the
Landlord and Tenant Act 1927 

  

	 	(b)	It shall be reasonable for the Landlord to withhold consent in the following circumstances:- 

  

	 	(i)	where the assignee is a parent company subsidiary or holding company of the Tenant (as those expressions are defined in the Companies Act 1985) 

  

 23 

	 	(ii)	where the proposed assignee enjoys diplomatic or state immunity (save where the proposed assignee is the Government of the United Kingdom of Great Britain and Northern Ireland or
any department thereof) 

  

	 	(iii)	for so long as there are any subsisting material breaches of the Tenant’s obligations under this Lease 

  

	 	(iv)	for so long as the Landlord or the Landlord’s solicitors have not received a personal undertaking from a firm of solicitors acting for the Tenant undertaking to pay the
reasonable and proper legal and surveyor’s fees and reasonable out of pocket expenses incurred by the Landlord in considering the Tenant’s request for consent to assign and in documenting any consent which may be given, and in obtaining
any requisite approvals to the assignment from Superior Landlords and mortgagees (if any) and whether or not the matter proceeds to completion, including a reasonable charge to cover the Landlord’s own administrative expenses

  

	4.25	Requirement for Authorised Guarantee 

  

	 	(a)	Not to assign the Demised Premises as a whole unless the Tenant and the Surety shall on or before completion of such assignment execute a deed of guarantee (the “Authorised
Guarantee”) in the form of the draft set out in the Third Schedule hereto by which the Tenant and the Surety shall covenant with the Landlord that the assignee will observe and perform the covenants on the part of the Tenant contained in this
Lease (as the same may be varied from time to time) for the residue of the Term or (if sooner) until the assignee is released pursuant to the provisions of the Landlord and Tenant (Covenants) Act 1995 

  

	 	(b)	If prior to any assignment the obligations of the Tenant hereunder are guaranteed by any person persons or company (other than by a person or body which held the interest of the
Tenant hereunder immediately before the date on which the current Tenant acquired that interest) then such guarantor will enter into the Authorised Guarantee required by the immediately preceding sub-clause to covenant with the Landlord that the
Tenant will observe and perform the obligations on its part 

  

	4.26	Register devolutions 

  

	 	Within one month of every assignment transfer underlease or charge affecting the Demised Premises or any devolution of the estate of the Tenant therein or this Lease or of any
derivative interest and every surrender thereof or the 

  

 24 

	 	commencement or termination of any sharing of the Demised Premises or part thereof to give notice in writing with particulars thereof to the Landlord and produce such assignment
transfer underlease or charge or the Probate of the Will or Letters of Administration or other instrument document or evidence of such devolution or surrender or sharing or a certified copy thereof and (where the title to this lease is registered at
H M Land Registry) to submit any transfer to the Land Registry for registration within 28 days after it is completed and to notify the Landlord in writing of the date on which the application for such registration is made and following completion of
such registration to deliver to the Landlord a certified copy of the Land Registry entries showing the transferee as proprietor of this Lease and in every case to pay to the Landlord a reasonable registration fee of not less than Twenty pounds plus
Value Added Tax thereon 

  

	4.27	Compensation 

  

	 	To pay or procure the payment to the Landlord of the due and proper proportion of any compensation paid to the Tenant or payable as a consequence of any notice served on or
application refused by any governmental or local authority in respect of the Demised Premises or the user thereof 

  

	4.28	Defective Premises 

  

	 	Forthwith upon becoming aware of the same to give notice in writing to the Landlord of any defect in the Demised Premises which would or might give rise to an obligation on the
Landlord to do or refrain from doing any act or thing in order to comply with the duty of care imposed on the Landlord pursuant to the Defective Premises Act 1972 and at all times to display and maintain all notices (including the wording thereof)
which the Landlord may from time to time reasonably require to be displayed at the Demised Premises 

  

	4.29	Indemnify Landlord 

  

	 	To pay and make good to the Landlord and keep the Landlord fully and effectually indemnified against all loss costs claims demands liability damage actions and expenses whatsoever
incurred or sustained by the Landlord directly or indirectly as a consequence of or in connection with any breach non-performance or non-observance of any of the covenants and conditions on the part of the Tenant contained or implied in this Lease
or the use of the Demised Premises or the exercise of the rights granted by this Lease or arising by virtue of the presence in on over or under the Demised Premises of any Hazardous Material whether now or hereafter during the Term or the existence
or condition of any article in or about the Demised Premises or the execution or omission of any works upon the Demised Premises including all costs and 

  

 25 

	 	expenses incurred by the Landlord in connection with any steps which the Landlord may (at its absolute discretion but without being in any way obliged so to do) take to remedy any
breach of covenant or condition by the Tenant or any Surety contained or implied in this Lease AND such indemnity shall be without prejudice to any rights or remedies of the Landlord under this Lease in respect of any breach non-performance or
non-observance of any covenant or condition 

  

	4.30	Costs 

  

	 	To pay within 14 days of demand (as to legal costs assessed on the Indemnity Basis):- 

  

	(a)	all reasonable legal costs and other costs and professional fees and disbursements incurred by the Landlord in connection with or incidental to any application made by the Tenant
for a consent or licence (whether the same be granted withdrawn or refused or proffered subject to any qualification or condition) or the consideration of any proposal (including plans and specifications) for and the inspection supervision and
approval or otherwise any works on the Demised Premises or any change in the user thereof 

  

	(b)	all expenses including solicitors’ costs and surveyors’ fee reasonably incurred by the Landlord in contemplation of or incidental to the preparation and service of a
notice under Section 146 of the Law of Property Act 1925 or of proceedings under Sections 146 and 147 of that Act notwithstanding that in any such case forfeiture is avoided otherwise than by relief granted by the Court

  

	(c)	all reasonable expenses including solicitors’ costs surveyors’ fees and bailiffs costs and commission incurred by the Landlord in connection with or incidental to any
breach non-performance or non-observance of any of the covenants or conditions on the part of the Tenant contained in this Lease or in contemplation of the enforcement thereof including (without prejudice to the generality of the foregoing) the
service of all notices relating to and schedules of dilapidations and wants of repair or decoration to the Demised Premises and any negotiations in respect thereof and whether served during the Term or after the Termination of the Term (but relating
in all cases to such wants of repair or decoration that accrued not later than the Termination of the Term) or the levy of distress 

  

	(d)	all Value Added Tax incurred by the Landlord on or included in any amount reimbursable by the Tenant to the Landlord under this Lease 

  

 26 

	4.31	Value Added Tax 

  

	 	Where any payment due under or by virtue of this Lease is a payment on which Value Added Tax is or may be chargeable (by reason of an election of the Landlord or otherwise) to pay
the amount of such tax in respect of the payment at the rate applicable to that payment upon receipt from the Landlord of an appropriate Value Added Tax invoice 

  

	4.32	Comply with Title Matters 

  

	 	To perform and observe all the covenants conditions and provisions affecting the Demised Premises including those contained or referred to in the documents referred to in Part IV of
the First Schedule so far as the same relate to the Demised Premises and are still subsisting and capable of being enforced (except in respect of the Section 80 Environmental Protection Act 1990 notice dated 7 June 1995) and to keep the
Landlord fully and effectually indemnified from and against all costs claims demands and liabilities arising from any breach non-performance or non-observance thereof 

  

	5	Landlord’s Covenants 

  

	 	The Landlord COVENANTS with the Tenant as follows:- 

  

	5.1	Quiet enjoyment 

  

	 	The Tenant paying the Basic Rent and other rents and charges payable under this Lease and performing and observing the several covenants and stipulations on the part of the Tenant
contained in this Lease may peaceably and quietly hold and enjoy the Demised Premises during the Term without any lawful interruption or disturbance from or by the Landlord or any person rightfully claiming under or in trust for it

  

	5.2	Insurance 

  

	(a)	At all times during the Term to insure (unless such insurance shall be prevented or vitiated by the act or default of the Tenant or any undertenant or their respective servants
agents licensees or visitors) the Demised Premises for such amount as the Landlord shall from time to time be advised by the Landlord’s Surveyor as being equal to the full cost of reinstatement thereof (or such greater amount as the Tenant may
reasonably request in writing from time to time) together with architects’ and other professional fees costs of demolition and site clearance and any work which may be required by virtue of any Act of Parliament against loss or damage by the
Insured Risks appropriate thereto and loss of rent for three years or such longer period as the Landlord shall reasonably determine at the yearly rate payable under this Lease and for such additional amounts in respect of rent prospectively payable

  

 27 

	 	on review as the Landlord shall decide and with an insurance office or underwriters of repute upon the usual terms and conditions offered by them for such insurance and through such
agency as the Landlord shall select Provided Always that the Landlord shall not be under any obligation to insure any fixtures or fittings installed by the Tenant which have become part of the Demised Premises or any alterations to the Demised
Premises unless the Tenant shall have given to the Landlord written notice of such installation or the carrying out of the same and of the full cost of reinstatement thereof and the Landlord has agreed with the Tenant at its request to effect the
insurance thereof 

  

	(b)	At the request and cost of the Tenant to notify such insurance office or underwriters of the occupation of the Demised Premises by the Tenant and at the Tenant’s request and
cost to produce to the Tenant (but not more often than once in any year) sufficient details of the policy or policies of such insurance 

  

	(c)	In case of damage to or destruction of the Demised Premises by any of the Insured Risks and provided the policy of insurance shall not have been vitiated or payment of the policy
moneys refused in whole or part as a consequence of any act or default of the Tenant or of any undertenant or their respective servants agents licensees or visitors and subject to receipt of all insurance moneys and of the amount of any applicable
excess from the Tenant to make application for all necessary consents and approvals and forthwith to expend all moneys received by virtue of such insurance (other than in respect of loss of rent) in rebuilding reinstating and making good (as the
case may be) the Demised Premises with all reasonable speed when it is lawful so to do (except fixtures and fittings therein in respect of which the Tenant has not given written notice of the installation thereof as herein provided or which the
Landlord has not agreed to insure) and in case of rebuilding or substantial reinstatement this covenant by the Landlord shall be satisfied if the Landlord provides in the premises so rebuilt or reinstated accommodation as convenient and commodious
as is reasonably practicable but not necessarily identical to the Demised Premises as the same existed prior to such damage or destruction 

  

	6	Provisos 

  

	 	PROVIDED ALWAYS and it is agreed and declared as follows:- 

  

	6.1	Forfeiture 

  

	 	This Lease are made on the express condition that if and whenever the Basic Rent or any other rents and charges reserved or made payable under this Lease or any part thereof
respectively shall be unpaid for twenty-one days next after the same shall become due (whether formally or legally demanded or not) or if 

  

 28 

	 	and whenever there shall be a breach or non-performance or non-observance of any of the covenants or agreements on the part of the Tenant or stipulations or conditions contained in
this Lease imposed on the Tenant or if the Tenant being a company shall go into liquidation (other than a voluntary liquidation of a solvent company for the purpose of amalgamation or reconstruction) or have a winding-up or administration order made
against it or be unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 or shall enter into a composition with its creditors or a scheme of arrangement of its affairs or have an administrator or a receiver or
manager appointed over all or any part of its undertaking or assets or being an individual shall have a bankruptcy order or an interim order made against him or enter into a composition with his creditors or scheme of arrangement of his affairs or
have an interim receiver appointed in respect of his property or if the Tenant in any case shall suffer any distress or execution to be levied on the Demised Premises or shall take the benefit of any Act for the relief of debtors then and in any
such case the Landlord or its agents may at any time thereafter and notwithstanding the waiver or implied waiver of any previous right of re-entry arising under this Lease re-enter upon the Demised Premises or any part thereof in the name of the
whole whereupon the Term shall absolutely cease and determine but without prejudice to any rights or remedies which may then have accrued to the Landlord in respect of arrears of rent or other breach or non-observance of any condition covenant or
agreement on the part of the Tenant contained in this Lease or otherwise 

  

	6.2	Distress 

  

	(a)	If the Basic Rent or other rents or any other payment to be made by the Tenant under this Lease or any part thereof shall be unpaid and in arrear for twenty-one days (whether
demanded or not) it shall be lawful for the Landlord to enter into and upon the Demised Premises at any time thereafter and by any means (including breaking open any doors or windows and gates and breaking down fences or other enclosures) and
distrain upon the Demised Premises (which power shall extend to any tenant’s and trade fixtures and fittings then therein and for severance and removal thereof) and the distress there and then found to dispose of in due course of law and to
apply the proceeds thereof first towards payment of all costs and expenses thereby incurred and secondly towards the Basic Rent or other rents or payments in arrear and in such order as the Landlord shall decide 

  

	(b)	If any rent or other payment due from the Tenant under this Lease shall be unpaid twenty-one days after the due date for payment thereof (whether formally demanded or not) and shall
be paid only after the Landlord’s Solicitors have been instructed or distress caused to be levied the Tenant shall in addition pay to the Landlord within 14 days of written demand the Landlord’s solicitors’ reasonable costs thereby
incurred and all bailiffs commission 

  

 29 

	6.3	Notices 

  

	 	All notices to be given under this Lease shall be in writing and Section 196 of the Law of Property Act 1925 as amended by the Recorded Delivery Service Act 1962 shall apply to
the service of all such notices and in case of any notice to be served on the Tenant such notice shall also be duly served if left at the Demised Premises or sent to the last known address of the Tenant 

  

	6.4	Suspension of Rent 

  

	 	If during the Term the Demised Premises shall be destroyed or so damaged by any of the Insured Risks as to be unfit for occupation and use then (provided the Tenant shall have duly
carried out its obligations under this Lease and the insurance of the Demised Premises or for loss of rent shall not have been vitiated or payment of the policy moneys refused in whole or in part as a consequence of any act or default of the Tenant
or any undertenant or their respective servants agents licensees or visitors and subject to the payment by the Tenant to the Landlord of an amount equal to any applicable excess under the relevant policy of insurance) the Basic Rent or a fair and
just proportion thereof according to the nature and extent of the damage shall as from the date of such destruction or damage for a period equal to the period for which the Landlord has insured loss of rent for the Demised Premises or until the
Demised Premises have been rebuilt or reinstated (whichever is the shorter period) be suspended and any dispute as to the extent proportion or period of such suspension shall be determined by a single arbitrator to be appointed by the Landlord and
the Tenant or (if they cannot agree on such appointment) by the President for the time being of the Royal Institution of Chartered Surveyors in accordance with the Arbitration Acts 1950 and 1979 

  

	6.5	Determination on Destruction 

  

	 	If at the expiration of the period for which the Landlord has insured loss of rent from the Demised Premises (or such longer period as shall be agreed in writing between the
Landlord and the Tenant before the expiry of such period) calculated from the date upon which the Demised Premises shall have been destroyed or so damaged by any of the Insured Risks as to render them unfit for occupation and use:-

  

	 	(a)	the insurance of the Demised Premises effected pursuant to the covenant by the Landlord in that behalf contained in this Lease has not been vitiated or prejudiced by or payment of
the policy moneys refused in whole or in part as a consequence of any act or default of the Tenant or any undertenant or their respective servants agents licensees or visitors and 

  

 30 

	 	(b)	the Landlord shall have been unable to obtain all necessary consents and approvals for the rebuilding replacement and/or reinstatement of the Demised Premises

  

	 	then and in such case (unless otherwise agreed in writing between the Landlord and the Tenant prior to the expiration of such period as aforesaid) this Lease shall absolutely
determine PROVIDED ALWAYS that such determination will take place without prejudice to any and all rights then subsisting between the parties to this Lease 

  

	6.6	Landlord to have Insurance Moneys on Frustration 

  

	 	If this Lease shall determine under the provisions of Clause 6.6 above or the Landlord shall not have completed the rebuilding replacement and/or reinstatement of the Demised
Premises following destruction or damage by any of the Insured Risks at the Termination of the Term then and in either such case all moneys payable or to become payable under any insurance effected pursuant to the covenant on the part of the
Landlord in that respect contained in Clause 5 shall be paid to the Landlord for its own use and benefit 

  

	6.7	Double insurances 

  

	 	If at any time the Tenant is entitled to the benefit of any insurance of the Demised Premises then the Tenant shall pay or procure that there be paid to the Landlord for its own use
and benefit all moneys received or to be received by virtue of such insurance 

  

	6.8	Disclaimer 

  

	 	Except to the extent covered by the insurance effected by the Landlord the Landlord shall not be responsible to the Tenant or any other person for any injury death damage
destruction or financial or consequential loss whether to person property or goods due directly or indirectly to the act neglect or default of any other occupier for the time being of the Demised Premises or of the Landlord 

 

	6.9	Interest on unpaid rents and other moneys 

  

	 	If the Basic Rent and any Value Added Tax payable thereon shall not be paid to the Landlord within seven days of the relevant Rent Day (whether or not demanded) or any other rents
or amounts payable by the Tenant to the Landlord under this Lease shall not be paid within fourteen days of the date of 

  

 31 

	 	demand the Tenant shall pay to the Landlord with any such sums but without prejudice to all or any other rights or remedies of the Landlord under this Lease) interest thereon at the
Prescribed Rate calculated on a day to day basis (and compounded with rests on the Rent Days) from the date on which the same became due and payable or (if earlier) the date of expenditure by the Landlord down to the date of payment or reimbursement
by the Tenant 

  

	6.10	Non-acquisition of easements 

  

	 	The Tenant shall not by implication of law or otherwise be entitled to any estate or any right privilege or easement whatsoever (except as expressly granted) by this Lease nor shall
the Tenant by virtue or in respect of the Demised Premises or this Lease be deemed to have acquired or to be entitled nor shall it during the Term acquire or become entitled by length of enjoyment prescription or any other means to any such estate
right privilege or easement 

  

	6.11	Rent acceptance when breach exists 

  

	 	(a)	No demand for or acceptance or receipt of the Basic Rent or any other rents or any payment on account thereof shall operate as a waiver by the Landlord of any right which the
Landlord may have to forfeit this Lease or re-enter the Demised Premises by reason of any breach of covenant by the Tenant or otherwise notwithstanding that the Landlord may know or be deemed to know of such at the time of such demand acceptance or
receipt and the Tenant shall not in any proceedings for forfeiture be entitled to rely on any such demand receipt or acceptance as aforesaid as a defence Provided that this provision shall have effect in relation only to a demand receipt or
acceptance made during such period (if any) as may in all the circumstances be reasonable for enabling the Landlord to conduct any negotiations with the Tenant for remedying the breach or other matter 

  

	 	(b)	If the Landlord shall refuse to accept the Basic Rent or any other rents or amounts payable by the Tenant to the Landlord under this Lease in order to avoid a waiver of any right
which the Landlord may have to forfeit this Lease or re-enter the Demised Premises by reason of any breach of covenant by the Tenant or otherwise then notwithstanding any tender of the same by the Tenant such sums shall bear interest to be paid by
the Tenant at the Prescribed Rate calculated on a day-to-day basis (and compounded with rests on the Rent Days) from the date on which the same became due and payable or (if earlier) the date of expenditure by the Landlord down to the date upon
which payment shall be accepted by the Landlord or earlier forfeiture or re-entry 

  

 32 

	6.12	Tenant’s covenants fully enforceable 

  

	 	Each of the Tenant’s covenants contained in this Lease shall remain in full force both at law and in equity notwithstanding that the Landlord may have waived or released
temporarily or permanently revocably or irrevocably or otherwise howsoever any similar covenant affecting other premises or have waived any prior breach of any covenant on the part of the Tenant 

  

	6.13	Disputes with adjoining owners 

  

	 	Any dispute arising between the Tenant and tenants or occupiers of adjoining or neighbouring premises belonging to the Landlord about any easement right or privilege in favour of or
affecting the Demised Premises or the premises adjoining or near the Demised Premises shall be decided by the Landlord’s Surveyor (whose decision including as to costs shall be binding upon the Tenant who shall submit to and abide by such
decision) 

  

	6.14	Warranty disclaimer 

  

	 	The Tenant acknowledges that no representation or warranty has been given prior to the date hereof or is given or implied by this Lease that the use now or hereafter proposed by the
Tenant for the Demised Premises is or will be or will remain a use which does not constitute a breach of the Planning Acts or will not require planning permission or is in accordance with any restriction or covenant affecting the Demised Premises
and that no consent which the Landlord may give to any change of use shall be taken as including any such representation or warranty nor that the Demised Premises are free from contamination by Hazardous Material or suitable for use by the Tenant
for the purposes permitted hereunder and the Term and the Basic Rent and other rents or amounts payable to the Landlord under this Lease shall not determine by reason of any changes modifications or restrictions of the user of or access to the
Demised Premises or by the same being or becoming impracticable or prohibited for any reason 

  

	6.15	Value Added Tax 

  

	 	(a)	All sums payable by the Tenant under or in connection with this Lease are exclusive of any Value Added Tax 

  

	 	(b)	The Landlord shall not be obliged to exercise any election to waive exemption from Value Added Tax in relation to the Demised Premises 

  

	 	(c)	Every obligation on the Tenant under or in connection with this Lease to indemnify the Landlord or any other person against any liability includes an obligation to indemnify against
any Value Added Tax 

  

 33 

	6.16	Hazardous Materials 

  

	 	Any and all liability of the Landlord to the Tenant or any undertenant or occupier or their respective servants agents or visitors in respect of any Hazardous MateriaI present in on
over or under the Demised Premises at the date hereof or at any time or times during the Term is hereby (to the extent permitted by law) expressly excluded 

  

	6.17	Jurisdiction 

  

	 	This Deed shall be governed by and construed in accordance with the laws of England and the Courts of England are to have jurisdiction but without prejudice to the Landlord’s
exclusive right to commence proceedings against the Tenant and/or the Tenant’s Surety in any other jursidiction 

  

	7	Surety’s Covenant 

  

	 	The Surety covenants with the Landlord that it will comply with its obligations contained in clause 4.25 of this Lease 

  

	 	It is hereby certified that this Lease has been made in pursuance of an agreement 

 EXECUTED AS A DEED AND DULY DELIVERED the day and year inserted on page 1 
  

 34 

 Schedule 1 
 Part I 
 The Demised Premises 
 The land and building therein known as Euston House 24 Eversholt Street London NW1 shown edged red on the Plan attached hereto as the same are comprised within Title Nos. 310127 323279 224978, 403961 and 104963 except
such parts thereof as are vested in London Underground Ltd. as recorded in an Agreement dated 20th October 1976
made between British Railways Board (1) and London Transport Executive (2) 
  

 35 

 Part II 
 Rights Excepted and Reserved 
  

	1	Services 

  

	 	The free and uninterrupted passage and running of water soil gas electricity telephone and other services from and to all other buildings premises and land whether belonging to the
Landlord or not adjoining or near to the Demised Premises through and along all conduits pipes drains channels watercourses sewers wires and cables or other conducting media which are now or may hereafter during the Perpetuity Period be in over or
under the Demised Premises 

  

	2	Entry to repair services 

  

	 	To enter upon the Demised Premises at all times in case of emergency and otherwise at all reasonable times upon reasonable written notice for the purpose of inspecting maintaining
cleansing repairing altering testing renewing and replacing laying and making connections to the said conduits pipes drains channels watercourses sewers wires and cables and other conducting media and all connections and related apparatus the
persons exercising such rights causing as little damage and interference to the Tenant as reasonably practicable to the Demised Premises and contents and making good or procuring the making good of all damage thereto which is thereby occasioned at
the costs of the Landlord 

  

	3	Works to and use of adjoining premises 

  

	 	At all times during the Term without reference to the Tenant or making any compensation to the Tenant therefor to:- 

  

	 	(a)	execute or permit or suffer the execution of works or alterations on or to any lands adjoining or near the Demised Premises or the demolition rebuilding alteration or extension of
any buildings now or hereafter erected on such lands including the right to build on or into any boundary wall of the Demised Premises and make use of any column or support thereof (but not so as to damage the interior surfaces thereof) and to make
any excavation in such lands and to undermine underpin and shore up the Demised Premises in such manner as the Landlord may think fit 

  

 36 

	 	(b)	use or deal with such lands and buildings and premises adjoining or near the Demised Premises in such manner as the Landlord may in its absolute discretion think fit notwithstanding
that the access of light or air to the Demised Premises PROVIDED THAT the Tenant’s occupation and use of the Demised Premises shall not be materially adversely affected PROVIDED THAT the Landlord takes all reasonable steps to
minimize inconvenience to the Tenant and makes good all damage to the Demised Premises at its own cost 

  

	4	Other easements 

  

	 	All other easements and rights in the nature of easements or quasi-easements now enjoyed by the Demised Premises over any property adjoining or near the Demised Premises or which
may at any time during the Perpetuity Period be acquired over any such property for the benefit of the Demised Premises and to which the Landlord may be or become entitled 

  

	5	Entry for Purposes of this Lease 

  

	 	To enter upon the Demised Premises for all and any of the purposes mentioned in Clauses 4, 5 and 6 

  

 37 

 Part III 
 Brief particulars and documents referred to in clause 2 
 The entries referred to in the Transfer of the Demised
Premises to the Landlord dated 7th April 1998. 
  

 38 

 Schedule 2 
 Rent Review 
  

	1	Interpretation 

  

	 	In this Schedule the following expressions have the following meanings:- 

  

	 	“Open Market Rent” the clear yearly full open market rent at which the Demised Premises might reasonably be expected to be let at the Relevant Review Date as (i) a
whole or (ii) if the Demised Premises are sub-let at the Relevant Review Date in part or parts the aggregate rental value of (a) such parts as a whole and (b) any parts which are not sublet as a whole; whichever is the greater rental
value of the Demised Premises by a willing landlord to a willing tenant in the open market with vacant possession and without fine or premium for a term of ten (10) years commencing on the Relevant Review Date at the rate applicable which might
be allowed by the willing landlord to the willing tenant assuming (if not a fact) that:- 

  

	 	(a)	the Demised Premises and all buildings comprised therein are then in existence and enjoy all rights necessary for the full beneficial use thereof and if damaged (i) are fully
restored and (ii) the provisions of Clause 6.5 do not apply 

  

	 	(b)	the willing tenant has received the benefit of any rent 6ee or reduced rent period or any other inducement which it might then be the practice in the open market for a willing
landlord to allow or make to a willing tenant 

  

	 	(c)	all the covenants stipulations and conditions contained in this Lease have been duly and fully performed observed and complied with by the Tenant 

  

	 	(d)	no work has been carried out to the Demised Premises during the Term or during any period of occupation by the Tenant or any undertenant or their respective predecessors in title
prior to the date of this Lease which would diminish the letting value thereof 

  

	 	(e)	the willing tenant is with others in the open market for the Demised Premises 

  

	 	(f)	(irrespective of any act omission or default of the Tenant or other circumstance) the Demised Premises are fit and ready for immediate occupation and use and can lawfully be used as
offices within the meaning of Class B1 of the Use Classes Order notwithstanding:- 

  

	 	(i)	the construction and use of toilet facilities in the areas shown hatched red on plans f(i)(a) and f(i)(b) annexed to this Lease; and 

  

 39 

	 	(ii)	the construction and use of restaurant and kitchen facilities in the areas shown hatched red on plans f(ii)(a) and f(ii)(b) annexed to this Lease 

  

	 	(iii)	the construction and use of the riser throughout the Demised Premises: the location of such riser on the ground and fifth floors of the Demised Premises respectively shown in the
location cross-hatched red on plans f(i)(a) and f(i)(b) annexed to this Lease 

  

	 	(g)	the Demised Premises have been fitted out by the Landlord at the Landlord’s expense including but without limitation to the standard set out in the specification marked A
Landlord’s Works annexed hereto 

  

	 	(h)	the Demised Premises are to be measured in accordance with the RICS Code of Measuring Practice 4th Edition published November 1993 on a net internal basis 

 

	 	(i)	in any case where the floor to ceiling height is lower than prevailing standards this is to be ignored where due to the presence of oversized air-conditioning installed at the
Tenant’s specific request 

  

	 	(j)	the willing tenant and its potential assignees or undertenants of the Demised Premises suffer no disadvantage at the Relevant Review Date or at any time during the Tern arising from
an actual or potential election by the Landlord to waive exemption in respect of value added tax or any other tax replacing or supplementing the same so far as concerns rent payable or of any taxable supply received by the Tenant under or in
connection with this Lease and on a lease which shall (with the exception of the provisions of clause 4.6(a) and this reference to that sub-clause) otherwise contain the same terms and provisions in all respects as this Lease (including the
provisions for review of the Basic Rent herein contained) other than the amount of the Basic Rent there being disregarded any effect on rent of:- 

  

	 	(i)	the fact that the Tenant or any lawful sub-tenant or occupier or their respective predecessors in title has been in occupation of the Demised Premises 

  

	 	(ii)	any goodwill attached to the Demised Premises by reason of the carrying on thereat of the business of the Tenant or any lawful sub-tenant or occupier or their respective
predecessors in such business 

  

 40 

	 	(iii)	any improvement lawfully carried out by the Tenant or any lawful sub-tenant or occupier at its own expense to include the works set out in the Retrospective Licence for Works
between the Landlord and the Tenant of even date herewith with the Landlord’s written consent otherwise than in pursuance of an obligation to the Landlord or its predecessors in title contained in this Lease or any document supplemental thereto

  

	 	(iv)	the absence of any allowance or discount for loss of use of the Demised Premises whilst any fitting-out works alterations or improvements are being carried out or for the time or
cost of the same and 

  

	 	(v)	all Statutory Rent Restrictions 

  

	 	“Review Date” the 7th day of April 2004 and each successive fifth anniversary of such date during the Term and any other date on which the Basic Rent is to be
reviewed to the provisions of paragraph 9 of this Schedule and 

  

	 	“Relevant Review Date” shall be construed accordingly 

  

	 	“Review Period” the period between a Review Date and the next succeeding Review Date or the Termination of the Term (as the case may be) and

  

	 	“Relevant Review Period” shall be construed accordingly 

  

	 	“Statutory Rent Restrictions” restrictions imposed by any statute for the time being in force and any regulations or orders made thereunder which operate impose any
limitation whether in time or amount on-the review of the Basic Rent and/or the collection of an increase in the Basic Rent 

  

	 	“Surveyor” an independent Chartered Surveyor of recognised standing experienced in the valuation and letting of premises so far as practicable of similar character
or comparable to the Demised Premises in the locality thereof or if there are no such premises locally then in the same region as the Demised Premises or nationally (as the case may require) 

  

 41 

	2	Review of the Basic Rent 

  

	 	The Basic Rent shall be reviewed as at and (if appropriate) increased on each Review Date as hereinafter provided and the amount of the Basic Rent payable for each successive Review
Period shall be the Basic Rent which was (or which but for Statutory Rent Restrictions would have been) payable immediately prior to the Relevant Review Date increased by the amount (if any) by which the Open Market Rent as at such Review Date
exceeds the Basic Rent at the aforesaid yearly rate 

  

	3	Agreement of Open Market Rent 

  

	 	The Landlord and the Tenant shall endeavour to agree the amount of the Open Market Rent as at each Review Date but if (for whatever reason) the Open Market Rent shall not have been
unconditionally agreed in writing three months after the Relevant Review Date either the Landlord or the Tenant may at any time thereafter by notice in writing to the other require that the determination of the Open Market Rent be referred to the
Surveyor who shall be appointed by the Landlord and Tenant or in default of agreement on such appointment by the President (or other the acting Chief Officer) for the time being of the Royal Institution of Chartered Surveyors on the written
application of the Landlord or the Tenant 

  

	4	Determination by the Surveyor 

  

	4.1	The Surveyor shall act as an expert and not as an arbitrator and invite the Landlord and the Tenant to submit to him within such time limits as he shall consider appropriate such
written representations and cross representations as to the amount of the Open Market Rent with such supporting evidence as they may respectively wish 

  

	4.2	The Surveyor will within two months after his appointment or within such extended period as the Landlord shall stipulate give to the Landlord and the Tenant written notice of the
amount of the Open Market Rent as determined by him and his determination shall be final and binding on the parties to this Lease 

  

	4.3	If the Surveyor shall not have given notice of his determination within the period and in manner aforesaid or if for any reason it becomes apparent that he will be unable to do so
within such period the Landlord and the Tenant may agree upon or either of them may apply for a new Surveyor to be appointed in his place (which procedure may be repeated as many times as may be necessary) PROVIDED always that any such
determination given by the 

  

 42 

	 	Surveyor outside such time limit but prior to the appointment of a new Surveyor shall be valid and effective but if given thereafter shall be null and void 

 

	4.4	The Surveyor’s fees or charges (including the costs of his appointment) shall be borne between the Landlord and the Tenant in such proportions as the Surveyor shall determine
or in the event that no determination is made equally between the Landlord and the Tenant 

  

	5	Interim Payments 

  

	 	If the Open Market Rent has not been ascertained (by agreement or determination) by any Relevant Review Date the Tenant shall pay to the Landlord until the date when the Open Market
Rent has been ascertained as aforesaid the Basic Rent at the yearly rate payable for the period immediately preceding the Relevant Review Date and upon the amount of the Basic Rent actually payable from the Relevant Review Date being ascertained the
Tenant shall forthwith pay to the Landlord in respect of the period commencing on the Relevant Review Date and ending on the Rent Day immediately following such ascertainment the amount whereby the Open Market Rent for such period exceeds the Basic
Rent at the rate previously payable together with interest thereon at the Prescribed Rate for the period commencing on the Relevant Review Date (or other the relevant Rent Day upon which the relevant proportion of the same would have become due had
the Open Market Rent been ascertained before the Relevant Review Date) and ending on the date of payment 

  

	6	Statutory Rent Restrictions 

  

	 	Throughout any period during the Term that Statutory Rent Restrictions shall apply to prevent or prohibit either wholly or partially:- 

  

	 	(a)	the operation of the above provisions for review of the Basic Rent then the Relevant Review Date or Dates shall be postponed to take effect on the earliest date or dates thereafter
upon which such review may occur and if there shall be a partial relaxation of the Statutory Rent Restrictions there shall be a further review of the Basic Rent on the earliest date thereafter as aforesaid notwithstanding that the Basic Rent may
have been increased partially on or since the original Relevant Review Date 

  

	 	(b)	the collection of any increase in the Basic Rent or any installment or part thereof by the Landlord or the retention thereof at any time after 

  

 43 

	 	 	collection then the collection of any increase or increases in the Basic Rent shall be postponed to take effect on the earliest date or dates thereafter that such increase or
increases may be collected and/or retained in whole or in part and on as many occasions as shall be required to ensure the collection of the whole increase 

  

	 	AND until the Statutory Rent Restrictions shall be removed the Basic Rent shall be the maximum sum from time to time permitted by the Statutory Rent Restrictions

  

	7	Memorandum of Review 

  

	 	On each occasion that the Open Market Rent is ascertained pursuant to the provisions of this Schedule the Landlord and the Tenant shall cause a memorandum of the yearly amount of
the Basic Rent payable under this Lease for the Relevant Review Period to be endorsed on this Lease and the Counterpart thereof and such memorandum shall be signed by or on behalf of the Landlord and Tenant respectively 

  

	8	Miscellaneous 

  

	 	For the avoidance of doubt it is declared that:- 

  

	 	(a)	the Basic Rent payable for any Review Period shall not be less than the amount of the Basic Rent payable for the period immediately preceding the commencement of such Review Period

  

	 	(b)	any agreement between or other memorandum in writing signed by or on behalf of the Landlord and the Tenant as to the amount of the Open Market Rent as at any Review Date or the
amount of the Basic Rent payable during any Review Period shall be valid and binding on the parties to this Lease notwithstanding the appointment of the Surveyor or any application for his appointment or the failure in any manner to adhere to the
foregoing procedures methods or timetables for review of the Basic Rent or determination of the Open Market Rent 

  

 44 

 SPECIFICATION A 
 24 EVERSHOLT STREET. EUSTON HOUSE 
 LANDLORDS WORKS 
 The ground and first to eighth floors inclusive provide for open plan office accommodation. The basement provides for:- 
  

	 	(a)	an air-conditioned computer room and workshop areas respectively shown hatched and cross-hatched on the plan annexed; and 

  

	 	(b)	with regard to the remainder of the basement, a mix of open plan accommodation and rooms. 

  

	1.0	Demolitions 

  

	1.1	Strip out all existing internal partitions, raised floors, ceilings, etc including services from basement to 8th floor inclusive. Protect all retained features as necessary

  

	1.2	Disconnect and make safe all redundant services and remove. 

  

	2.0	Structural Alterations 

  

	2.1	Formation of new firemans lift shaft and services shafts. 

  

	2.2	Formation of new protected escape route from staircase through shop unit. Demolition of dividing wall between the shop units and introduction of new lobbied door access into the
shop unit. 

  

	3.0	Toilets 

  

	3.1	Strip out and replace all existing toilets. 

  

	3.2	Provide toilet roll holders, coat hooks to suit. 

  

	3.3	Toilet roll holders, coat hooks to suit. W.C. Cubicles Armitage Venesta or similar. Inclusive of all doors and panels and door furniture, vanity units, basins, W.C.’s, urinals
etc. 

  

 45 

	 	Formation of two number disabled persons toilets per floor, total 18 number. Inclusive of all fixtures and fittings in accordance with requirements for disabled persons.

  

	4.0	Suspended Ceilings 

  

	4.1	Provision of uninterrupted 600 x 600 tegular edged Armstrong Dune tiles on a 15mm exposed grid to the following areas. 

  

			
	Ground floor	  	- all areas except reception, induction, stair areas and W.C.’s.
	First to sixth	  	- all areas except stair areas and W.C.’s.
	Seventh	  	- all areas except stair areas and W.C.’s.
	Eighth	  	- all areas except stair areas and W.C.’s.

  

	4.2.	Solid Plasterboard, Suspended Ceilings, Taper edged sheeting, Two layers of Gyproc Wallboard to W.C.’s on all floors. 

  

	5.0	Glass and Glazed screens 

  

	5.1	Renew glazing in the roof lights over induction area in heat soaked toughened 6mm glazing. 

  

	6.0	Doors and Ironmongery 

  

	6.1	Doors generally to be 1981 x 926 x 54 solid core with hardwood lippings, smoke seals to be let into the door as required for fire rating, doors to be in association with protected
lobbies only. 

  

	6.2	Toilet doors with no vision panels 

  

	6.3	57 x 100 door frames rebated to suit doors 

  

	6.4	Ironmongery to single doors inclusive of stainless steel handles, suited locks, kick plates and where necessary door closers. (£70.00 P.C. for Single Doors, f180.00 P.C. for
Double). 

  

	6.5	Two pairs of external security doors inclusive of ironmongery. 

  

	7.0	Ceramic Wall Tiling 

  

	7.1	Provision of H & R Johnson 150 x 150 x 2mm white ceramic wall tiles including all external angle beads, edge tiles and grouting to be installed to disabled W.C.’s and all
other W.C.’s where no laminate panelling has been installed. 

  

 46 

	8.0	Flooring 

  

	8.1	Raised access floor on floors G - 6 (150mm void). 

  

	8.2	Supply and fix 600 x 600 carpet tiles to the following areas. (£12.00 P.C.) 

  

	 	Ground to eighth floor corridors 

  

	 	Ground to eighth floor classrooms 

  

	 	Ground to eighth floor circulation areas 

  

	 	Ground to eighth floor ancillary offices 

  

	8.3	Supply and fix vinyl flooring with non-slip finish to all refurbished toilets. 

  

	8.4	Latext screed to be introduced to sub-floor following removal of carpets and raised floor. 

  

	8.5	Clean Teratzo to reception and staircase areas. 

  

	9.0	Decoration 

  

	9.1	Emulsion paint to perimeter columns and walls. 

  

	9.2	Gloss to soft wood areas, skirtings, door frames and window sills. 

  

	9.3	Vinyl silk emulsion to staircase areas. 

  

	9.4	Industrial floor paint to the basement floor following demolition of partitions. 

  

	9.5	Vinyl silk emulsion paint to remaining walls in basement. 

  

	9.6	Spray painting of basement ceiling. 

  

	10.0	Furniture and Equipment 

  

	10.1	Reception desk. 

  

 47 

	11.0	Signs and notices 

  

	11.1	Statutory fire signage male and female symbols. 

  

	12.0	Sundries 

  

	12.1	Soap dispensers. 

  

	12.2	Mirrors 

  

	12.3	Coatrails 

  

	12.4	Paper towel dispensers 2 per W.C. 

  

	12.5	Warm air hand dryers 2 per W.C. excluding disabled toilets (1 per W.C.). 

  

	13.0	Roofing Works 

  

	13.1	Repairs and replacement to existing roof coverings. 

  

	14.0	External Decoration and Cleaning 

  

	14.1	Repainting of external railings, fences etc. 

  

	14.2	Repainting of external rain water pipes. 

  

	14.3	Repainting of external doors. 

  

	14.4	Repainting of external cat ladders. 

  

	15.0	External Alterations and Structural Repairs 

  

	15.1	Making good any cracks to columns, lintels and stone work, identified by the Structural Engineers Report. 

  

	15.2	Removal of steel frame pavement lights and replacement with concrete pre-cast units. 

  

	16.0	Services 

  

	16.1	New electric “kompact” firemans passenger lift. 

  

 48 

	16.2	Refitting existing passenger lift cars 

  

	16.3	Refitting existing goods lift car 

  

	16.4	Mechanical Services.(See Oscar Faber spec. attached but adjusted for open plan office accommodation throughout) 

  

	16.5	Electrical Services. (See Oscar Faber spec. attached) 

  

	16.6	3 compartment floor trunking on a 3m grid for small power distribution on Seventh and Eighth floors. 

  

 49 

 Euston House 
 24 Eversholt Street 
 Scope of 
 Engineering Services 
 SAC/B17020/MSB/RIS 
 March 1998 
 Revision 2 
  

			
	Prepared	 	R Simpson
		
	Approved	 	S Campbell

 Marlborough House 
 Upper Marlborough Road 
 St. Albans Hens ALI 3UT 
 Telephone: +44 (0) 181 784 5784 
 Direct Tel: +44 (0) 181 784 5796 
 Fax: +44 (0) I81 784 5700 
 E-mail: enquiries@faber-e.oscarfaber.co.uk 
  

 50 

			
	Learning Tree International, Euston House	 	Scope of Engineering Services

  

	1	Outline Description and Basis of Design 

  

	1.1	Introduction and Design Intent 

  

	 	The engineering services are to be designed and selected to provide economically Serviceable installations with reasonable longevity, with existing plant and services replaced and
retained accordingly. 

  

	 	This document describes the engineering services and associated works to be provided under a single building refurbishment and fitting-out contract. 

  

	1.2	Basis of Design 

  

	1.2.1	Outside Conditions: 

  

			
	Winter	 	-3°C db. 100% RH (Fabric Heating]
		 	-8°C db. 100% RH (Air Handling Systems)
	Summer	 	29’C db. 20°C wb.
		 	35°C for Heat Rejection Plant

  

	 	Acoustic Limits when measured at the boundary of the site to satisfy the Local Authority’s requirements. 

  

	 	Plant will be sized and attenuated to ensure that noise levels at the boundary of the site are not increased above existing levels. 

  

	1.2.2	Inside Conditions: 

  

			
	 Ground to 6th.
 8th floor south
	 	22°C +/- 2°C
		
	Seventh Floor	 	 Design to 22°C but allow temperature to rise
 up to
26°C under peak load

		
	 Circulation areas, toilets
 and changing
areas
	 	20°C min

  

	1.2.3	Ventilation Levels: 

  

			
	Ground to 6th.	 	8 l//s/person Supply/Extract
	8th floor south	 	
		
	WC/s	 	10 A/C/hr            Extract
		 	8 A/C/hr              Supply
		
	Restaurant	 	 Ventilation to suit transient occupation to I
 person
per 2m’

  

 51 

			
	Learning Tree International, Euston House	 	Scope of Engineering Services

  

			
	Meeting Rooms	 	121/s/person
		
	Coffee areas	 	Ventilation to suit transient occupation.
		
	Kitchen	 	 To suit Kitchen Specialists requirements.
 Supply at
85% to achieve negative pressure

  

	1.2.4	Heating and Cooling Systems: 

  

					
	LTHW	 	Flow 82’C	 	Return 71 “C
	CHW	 	Flow 6°C	 	Return 12°C

  

	1.2.5	Internal Noise Criteria: 

  

			
	General areas	 	NR38 at medium speed
		
	Restaurants	 	NR45
		
	Kitchens	 	NR50
		
	Toilets	 	NR40

  

	1.2.6	Cold Water Storage Requirements 

  

			
		 	 20 litres per person

  

	1.2.7	Hot Water Storage Requirements 

  

			
		 	Provision of domestic hot water to cater for the normal requirements of the occupancy of the building. Production of hot water by central plant and storage Or local point of use water
heaters.
		
		 	Where hot water to be stored, this shall be at 60°C maintained above 55’C throughout the distribution.

  

	1.2.9	Equipment loads 

  

	 	Design heat gains [% hourly average] from equipment will be calculated based on the following: 

  

			
	Delegates PC:	 	 150W [subject to a maximum of 132 delegates PCs
 per
floor)

		
	Tutors equipment:	 	1000W [lncl. hub, switch and projection equipment)

  

 52 

			
	Learning Tree International, Euston House	 	Scope of Engineering Services

  

	1.2.10	Diversity 

  

	 	The engineering services will be designed such that each floor can accommodate full occupation subject to a maximum of 260 persons plus 132 PCs. 

  

	 	However, the maximum occupancy for the building as o whole will be 70% of the total availability and central plant and distribution services will be sized accordingly.

  

	1.3	Descriptions 

  

	1.3.1	Basement 

  

	 	The basement plant areas and selected items of plant are to be retained. 

  

	 	In the plant areas and throughout the remainder of the basement area, all existing services will be stripped out, together with all redundant partitioning not associated with the
retained plant spaces. 

  

	 	The basement will then be redecorated and provided with ventilation, lighting, fire detection and alarms and small power services, which will make the space suitable for use as
storage areas. 

  

	1.3.2	Ground Floor 

  

	 	Some of the existing finishes in the reception and induction areas, together with selected elements of their existing feature lighting and ventilation system are to be retained.
These finishes and systems with be modified and augmented where required to suit the new.Iay0ut and engineering servicing needs. 

  

	 	Other areas of the ground floor, including all of the classrooms, offices and toilet areas will be fully stripped out and new ventilation, heating, cooling, lighting, Small power
and cable ways and outlets for data and voice communications systems installed. 

  

	 	The two existing shop units in particular will be stripped out, provided with access from within Euston House and serviced as new office accommodation. 

  

	1.3.3	1st to 6th Floors 

  

	 	Except for the sub-man distribution equipment in the electrical riser cupboards and soil and rainwater drainage stacks, all services and finishes are stripped out and new systems
and finishes, installed, as set out below. 

  

	 	Finished areas will include, ventilation, heating, cooling, lighting, small power and cable ways and outlets for data and voice communications systems. 

  

 53 

			
	Learning Tree International, Euston House	 	Scope of Engineering Services

  

	 	Small power and communications outlets will generally be presented on dado level white plastic, three comportment trunking. 

  

	 	Toilet areas will also be provided with new services, including lighting, ventilation, small power and domestic hot and cold water services. 

  

	 	Coffee areas will be serviced, with cold water and electrical supplies for vending machines. 

  

	1.3.4	7th Floor 

  

	 	The 7th floor level will be stripped out to the same extent as the lower floors and provided with new mechanical and electrical services, as set out below. 

 

	 	The open plan restaurant seating areas will be provided with ventilation, heating, cooling and lighting, with small power outlets for cleaning and maintenance purposes.

  

	 	The servery area will be provided with ventilation, heating, cooling, lighting and small power services with additional small power outlets presented at floor level to serve the
island site hot and cold servery counters. 

  

	1.3.5	8th Floor 

  

	 	The 8th floor kitchen area will be left as a shell for fitting out by the specialist kitchen contractor. 

  

	 	Included in the contract in connection with the kitchen will be: 

  

	 	a.	A mains electrical supply and distribution panel located in the kitchen area, from which the kitchen contractor will derive and distribute the electrical supplies to the kitchen
equipment. 

  

	 	b.	A gas supply terminated in the kitchen area, from which the kitchen contractor will derive and distribute the gas supplies to gas cooking equipment. 

  

	 	c.	Appropriate lighting and associated switching systems for the kitchen area, excluding luminaires within the cooking hoods, which will be supplied and installed with the hoods by the
kitchen contractor. 

  

	 	d.	Hot and cold water supplies terminated in the kitchen area, from which the kitchen contractor will derive and distribute supplies as required. 

  

	 	e.	A drainage connection. 

  

 54 

			
	Learning Tree International, Euston House	 	Scope of Engineering Services

  

	 	The smoking room will be provided with increased ventilation rates via dedicated supplementary air extract systems, drawing make-up air from the adjacent areas.

  

	 	 	All other areas at 8th floor level will be provided with ventilation, comfort cooling, lighting, small power and data cabling wireways appropriate for the space use indicated.

  

	1.3.6	Roof Plant Areas 

  

	 	Roof plant and associated services will be stripped out where necessary and new plant provided. 

  

	 	Roof walkways and enclosed plant areas will be provided with lighting and small power services for cleaning and maintenance purposes. 

  

 55 

 SPECIFICATION B 
 24 EVERSHOLT STREET, EUSTON HOUSE 
 TENANTS IMPROVEMENT WORKS 
  

	1.0	STRUCTURAL ALTERATIONS 

  

	1.1	The formation of openings for the three trolley hoists from the restaurant to the kitchen. 

  

	2.0	PARTITIONS AND DRY LINING 

  

	2.1	The formation of classrooms using two layers of plasterboard with 50mm thick cavity with insulation and acoustic sealant to perimeters giving 45 db (rw). 

 

	2.2	Formation of partition and curved partitioning to coffee areas, seventh floor restaurant and behind reception desk. 

  

	3.0	TOILETS 

  

	3.1	The installation of one new male and one new female toilet on the ground floor inclusive of fixtures, fittings, sanitary ware, vanity units etc. 

  

	3.2	Installation of one new male toilet block on floors 1 to 6, again inclusive of all fixtures and fittings. 

  

	4.0	SUSPENDED CEILINGS 

  

	4.1	600 x 600 metal suspended ceiling on exposed grid for the 8th floor kitchen and servery. 

  

	5.0	DOORS AND IRONMONGERY 

  

	5.1	Doors associated with classrooms, administration, offices, staff offices and the additional toilet blocks generally to be 1981 x 926 x 44 with hardwood 

  

 56 

	 	lippings, smoke seals to be let into the doors as required for fire rating. Inclusive of vision panels where necessary 57 x 100 door frames, ironmongery inclusive of stainless steel
handles, suited locks, kick plates and where necessary door closers. 

  

	6.0	CERAMIC WALL TILING 

  

	6.1	Provision of H&R Johnson 150 x 150 x 2mm white ceramic wall tiles including all external angle beads, edge tiles and grouting to be installed to the additional two W.C. blocks
on the ground floor and the new male W.C. blocks on 1 - 6th floors. 

  

	7.0	FLOORING 

  

	7.1	Supply of vinyl flooring with non slip finish to the following areas, all new toilet blocks inclusive of the two toilet blocks on the ground floor and the new male toilets on
1st-6th floors, servery and restaurant area, coffee areas above ground floor, kitchen area and changing areas. 

  

	7.2	Feature vinyl flooring in three colours, patterned to coffee areas and servery and restaurant areas. 

  

	7.3	Supply and fix 600 x 600 heavy duty carpet to the ground floor induction and coffee area, corridors adjacent to ground floor lift lobby. 

  

	8.0	DECORATION 

  

	8.1	Wall covering to be muraspec or similar vinyl wall paper to all partitions and columns ground to 8th floor excluding perimeter walls, columns, staircores and services with finishes
specified elsewhere. 

  

	9.0	FURNITURE AND EQUIPMENT 

  

	9.1	Coffee area, curved bar and MDF shelving. 

  

	9.2	Shelf and hatch way to ground floor administration room. 

  

	10.0	SUNDRIES 

  

	10.1	Soap dispensers, mirrors, paper towel dispensers, warm air hand dryers all in association with the two new toilet blocks on the ground floor and the new male toilet blocks on
1st-6th. 

  

 57 

	10.2	Coat rails and shelving within the classroom areas. 

  

	11.0	MECHANICAL & ELECTRICAL SERVICES 

  

	11.1	Small power to classrooms 

  

	11.2	Kitchen services, mechanical & electrical and plumbing and drainage to kitchen 

  

	11.3	Services in association with the new toilet blocks on the ground, 1st - 6th floors. 

  

	11.4	Services in association with specific tenants requirements within the basement. 

  

	11.5	Gas supplies and any other utility supplies specifically for the kitchen and restaurant area. 

  

 58 

 Schedule 3 
 Authorised Guarantee 
  

			
	 DATED
	 	
		
	 PARTIES
	 	
		
	 THE LANDLORD
	 	
		
	 THE TENANT
	 	
		
	 THE ASSIGNEE
	 	
		
	 THE SURETY
	 	
		
	 THE LEASE
	 	
		
	 Date
	 	
		
	 Parties
	 	
		
	 Demised Premises
	 	
		
	 Term
	 	

  

	1	Definitions 

  

	 	In this Deed (unless the context otherwise requires) the expressions set out in this Clause 1 shall have the meanings respectively assigned to them below, viz:-

  

			
	 Expression
	  	 Meaning

	 “Assignee” “Landlord”
 “Tenant” and “Surety”
	  	the parties to this Deed respectively referred to above by those names (including in the case of the Landlord and the Assignee their successors in title where applicable)
		
	“Lease”	  	the document or documents of which short particulars are set out above under the heading

  

 59 

			
		  	“THE LEASE” (including all documents supplemental thereto)
		
	“Demised Premises”	  	the property demised by the Lease
		
	“Term”	  	the term of years granted by the Lease (including any continuation or extension thereof and any holding over whether under statute at common law or otherwise)
		
	“1995 Act”	  	the Landlord and Tenant (Covenants) Act 1995
		
	“Tenant Covenants”	  	means every tenant covenant (as that expression is defined in the 1995 Act) of the Lease

  

	2	Background 

  

	2.1	The Demised Premises are vested in the Tenant for the residue of the term of years granted by the Lease 

  

	2.2	The reversion immediately expectant on the determination of the term granted by the Lease is vested in the Landlord 

  

	2.3	The Lease contains a covenant by the lessee not to assign the Demised Premises unless (inter alia) the Tenant shall execute a guarantee of the obligations of the Assignee under the
Tenant Covenants in the form of this deed 

  

	2.4	The Tenant has requested the Landlord to agree to the Demised Premises being assigned to the Assignee for the residue of the term granted by the Lease which the Landlord has agreed
to do in consideration of the covenants on the part of the Tenant and of the Surety hereinafter contained 

  

	3	Guarantee by Tenant 

  

	 	The Tenant hereby covenants and guarantees to the Landlord as follows:- 

  

	3.1	As from the date on which the Lease is assigned to the Assignee and thereafter throughout the Term (but only to the extent that the Assignee is not released from liability therefor
pursuant to the provisions of the 1995 Act and in the case of a partial release only to the extent that the Assignee remains liable) the Assignee will pay the rent or rents reserved by the Lease and will perform and observe the Tenant Covenant and
that the Tenant will make good to the 

  

 60 

	 	Landlord all losses costs and expenses incurred by the Landlord through the default of the Assignee in respect of any of the above matters PROVIDED ALWAYS that

  

	 	(a)	any neglect or forbearance of the Landlord in endeavouring to obtain payment of the said rents or any delay to take any steps to enforce performance by the Assignee of the Tenant
Covenants and any time which may be given by the Landlord to the Assignee 

  

	 	(b)	any variation in the terms of the Lease agreed between the persons who are for the time being the lessor and the lessee thereunder (but subject to the provisions of
Section 18(2) of the 1995 Act) 

  

	 	(c)	the transfer of the reversion expectant upon the Term or any part thereof 

  

	 	(d)	any assignment of the Lease which is an excluded assignment (as defined in Section 11 of the 1995 Act) 

  

	 	(e)	the release of any of the persons comprised in the Tenant (if more than one) from liability hereunder or 

  

	 	(f)	any other act omission matter or thing whatever whereby (but for this provision) the Tenant would be exonerated either wholly or in part from this guarantee (other than a release by
deed given by the Landlord or a release pursuant to the provisions of the 1995 Act) 

  

	 	 	shall not release or in any way lessen or affect the liability of the Tenant hereunder 

  

	3.2	The Tenant HEREBY FURTHER COVENANTS with the Landlord that if while the guarantee contained in clause 3.1 remains in force the Assignee shall go into liquidation and the liquidator
shall disclaim the Lease or if the Assignee shall be wound up or cease to exist or if the Assignee (being an individual) shall become bankrupt and the trustee in bankruptcy shall disclaim the Lease or if the Lease shall he forfeited or become bona
vacantia and shall be disclaimed by the Crown then if the Landlord shall by notice in writing within three months after such disclaimer or other event putting an end (so far as concerns the lessee) to the effect of the Lease require the Tenant to
take up a new lease of the Demised Premises for a term commensurate with the residue of the Tern which would have remained had there been no disclaimer of the Lease at the rent payable immediately prior to such disclaimer or other said event (and on
the assumption that any uncompleted review of the rent hereby reserved had been duly completed prior to such disclaimer or other event) and subject to the like covenants and conditions as are reserved by and 

  

 61 

	 	contained in the Lease (the said new lease and the rights and liabilities thereunder to take effect as from the date of such disclaimer or other event) then in such case the Tenant
shall pay the costs of and accept such new lease accordingly and execute and deliver to the Landlord a counterpart thereof 

  

	4	Guarantee and Indemnity by Surety 

  

	4.1	The Surety HEREBY COVENANTS with the Landlord, as a primary obligation, that the Tenant or the Surety shall, so long as the Tenant shall be liable for performance and observance of
the same, duly perform and observe the covenants on the part of the Tenant contained in this deed 4.2 The Surety will indemnify, as a primary obligation, the Landlord against all claims demands losses damages liability fees costs and expenses
whatsoever sustained by the Landlord by reason of or arising in any way directly or indirectly out of any default by the Tenant in the performance and observance of any of the obligations on the part of the Tenant herein contained

  

	4.3	The Surety shall remain liable to the Landlord as a primary obligation, for the fulfillment of the obligations of the Tenant under this Deed notwithstanding any disclaimer thereof
by a liquidator or trustee in bankruptcy of the Tenant 

  

	4.4	The Surety shall not be released from the obligations on its part herein contained as a result of any neglect or forbearance of the Landlord in enforcing performance by the Tenant
of its obligations contained in this Deed, any rent reviews under the Lease and (subject to Section 18 of the 1995 Act) any variation of the terms of this Deed or of the Lease or of the transfer of the Landlord’s reversion, and change in
the constitutions structure or powers of the Tenant the Surety or the Landlord or the liquidation administration or bankruptcy (as the case may be) of either the Tenant or the Surety, or any other matter (other than a release by deed given by the
Landlord or a release pursuant to the provisions of the 1995 Act) whereby (but for this provision) the Surety would be exonerated in whole or in part from this guarantee 

  

	5	Joint and several obligations 

  

	 	Where the Tenant or the Surety consists of more than one person then the obligations of the Tenant and/or the Surety (as the case may be) shall be the joint and several obligations
of those persons 

  

 62 

 EXECUTED as a deed by the Landlord and delivered the day and the year first
before written 
  

			
	 EXECUTED as a DEED for and on behalf
	 	 )

	 of COURTLANDS DEVELOPMENTS
	 	 )

	 LIMITED by
	 	
	 Director TC , 3.
	 	
		
		 	 Director

		
		 	 Secretary

  

 63EXHIBIT 10.3

 EXHIBIT 10.3 
 DATED 24th December 1999 
 DIGITAL EQUIPMENT CO. LIMITED 
 -
and - 
 LEARNING TREE INTERNATIONAL LIMITED 
  

 UNDERLEASE 
 premises known as office (east wing) 
 at Unit 18 Mole Business Park Leatherhead Surrey

  

 STAAL & CO., 
 7TH FLOOR, 150 THE MINORIES, LONDON 
 Telephone: 0171 264 2180 
 Facsimile:
0171 264 2059 
 Ref: RJS\CJR\1335SECO.LSE\lease2\11.6.98 
  

 UNDERLEASE made the 24th day of December One thousand nine hundred and ninety-nine 
 PARTIES 
  

			
	The Landlord:	 	DIGITAL EQUIPMENT CO. LIMITED whose registered office is situate at Plumtree Court London EC4A 4HT
		
	The Tenant: 	 	LEARNING TREE INTERNATIONAL LIMITED whose registered office is at Unit 18 Mole Business Park Leatherhead Surrey

 DEFINITIONS: 
 1. IN this Deed unless the context otherwise requires: 
  

	 	A.	the following expressions shall have the following meanings respectively:- 

  

	 	(1)	“Landlord” shall include the person for the time being entitled to the reversion immediately expectant upon the determination of the term hereby created

  

	 	(2)	“Tenant” shall (but without prejudice to the application and operation of section 79 of the Law of Property Act 1925) include the person in whom the term hereby created is
from time to time vested whether by assignment devolution in law or otherwise 

  

	 	(3)	“Lessor” shall include a Superior Lessor or person for the time being entitled in reversion immediately expectant upon the tenancy granted by this deed and “the
Lessee” shall include the successors in title of the Lessee 

  

	 	(4)	“Superior Landlord” shall mean Postal Properties Limited whose registered office is situate at Equitable House 47-5 1 King William Street London EC4R 9DD and its
successors in title 

  

	 	(5)	“Superior Lease” shall mean a Lease dated the 7th January 1987 and made between the Superior Landlord (1) and the Landlord (2)

  

	 	(6)	“Building” shall mean the Building described in part one of the First Schedule 

	 	(7)	“Property” shall mean the property described in Part Two of the First Schedule together with all permitted additions and alterations at any time and from time to time made
to it and all fixtures and fittings of every kind which shall from time to time be in or upon the Property (whether originally affixed or fastened to or upon the same otherwise) except tenant’s and trade fixtures 

  

	 	(8)	“Estate” shall mean the estate known as Mole Business Park Leatherhead in the County of Surrey shown edged blue on Plan A together with any additions which may be made
thereto from time to time 

  

	 	(9)	“Common Parts” means the Reception Area, forecourts car park and roof terrace landscaped areas manhole covers entrance halls landings lift shaft staircases passages
toilets and other areas which are from time to time during the Term provided by the Landlord for common use and enjoyment by the tenants or occupiers of the Building (and where applicable the Estate) and all persons expressly or by implication
authorized by them 

  

	 	(10)	“Other Buildings” means all structures including garages walls or buildings now or at any time during the Term erected on the Estate or any adjoining or neighboring
property to the Estate 

  

	 	(11)	“Pipes” means all pipes sewers drains mains ducts conduits gutters watercourses wires cables channels flues and all other conducting media including any fixings louvres
cowls and any other ancillary apparatus 

  

	 	(12)	“Service Charge Percentage” shall mean 21.97% subject to the provisions at Clause 6 of Part A of the Fifth Schedule 

  

	 	(13)	“Inherent Defect” means the defect in the Building which is attributable to the roof of the courtyard area to the Building described in the extract Schedule attached
hereto 

  

	 	(14)	“Initial Provisional Service Charge” shall mean £41,523.30 per Annum 

  

	 	(15)	“Insured Risks” shall mean the following risks namely risks in respect of loss of rent for a period of three years and professional 

  

 2 

 fees loss or damage by fire lightning explosion aircraft (other than hostile aircraft) and other aerial
devices or articles dropped there from earthquake riot civil commotion and malicious damage storm or tempest flood bursting or overflowing of water tanks apparatus or pipes impact by road vehicles and all such other risks contingencies as the
Superior Landlord or the Landlord may unable deem desirable in the interests of proper estate management not third party or employer’s liability 
  

	 	(16)	“Determination of the Term” shall mean the cessation of the term by defluxion of time or by forfeiture pursuant to the right of re-entry in this deed or by judgment of a
court or by surrender of this lease offered by the Tenant during the term and accepted by the Landlord or by frustration or otherwise 

  

	 	(17)	“Basic Rate” shall mean two per cent. per annum above the base rate of National Westminster Bank PLC from time to time 

  

	 	(18)	“Landlord’s Surveyor” shall mean a representative of the Landlord or a chartered surveyor in private practice engaged by the Landlord from time to time for the
purposes of this Lease 

  

	 	(19)	“VAT” shall mean Value Added Tax or any tax of a similar nature which may be substituted therefore or levied in addition thereto 

  

	 	(20)	“Use Covenants” shall mean the covenants in connection with user set out in the Sixth Schedule hereto 

  

	 	(21)	“Plan” means Plan A and where applicable Plan B Plan C 

  

	 	(22)	“Term” means from 13th April 1998
until 16th December 12010 

  

	 	(23)	“Lease” means this Under lease 

  

	 	(24)	“Authorized Guarantee Agreement” means an Agreement containing the provisions set out in the Seventh Schedule hereto 

  

	 	(25)	“Review Date” means either or as the context permits both 16th December 2000 or 16th December 2005 

  

	 	(26)	“Reception Area” means the reception area amounting to 1388 sq. ft. shown on Plan C hereto and colored yellow 

  

 3 

							
				
	 	 	 	  	(27)	 	Rent First Reserved” means the Annual Rent first reserved at clause 4 hereof
				
		 		  	(28)	 	“First Schedule of Condition” means the Schedule of Condition annexed to an under lease dated 29th June 1995 and made between the Landlord and the Tenant
				
		 		  	(29)	 	“Second Schedule of Condition” means the Schedule of Condition annexed to this lease
				
		 		  	(30)	 	“Schedules of Condition” means the First Schedule of Condition and the Second Schedule of Condition
				
		 		  	(31)	 	“First Anniversary” means 13th April
1999
				
		 		  	(32)	 	“Second Anniversary” means 13th April
2000
				
		 	B.	  	(1)	 	Any reference to an enactment (whether generally or specifically) shall be construed as a reference to that enactment as amended extended reenacted or applied by or under any other enactment and
shall include all instruments orders plans regulations permissions and directions made or issued there under or deriving validity there from
				
		 		  	(2)	 	Whenever the expression “Tenant” shall include more than one person whether or not original parties to this deed then the covenants in this deed expressed to be made by
“Tenant” shall be deemed to be made by such persons jointly and severally
				
		 		  	(3)	 	All rights powers and other matters excepted and reserved out of this demise or otherwise granted or permitted to the Landlord by the provisions of this deed shall be deemed to be so excepted
and reserved in favor of or granted or permitted to the Landlord
				
		 		  	(4)	 	References to any right of the Landlord to have access to the Premises shall be construed as extending to any Superior Landlord and mortgagee of the Premises and to all persons authorized by the
lord and any superior landlord or mortgagee (including agents professional advisers contractors workmen and others) where such superior lease or mortgage grants such rights of access to the superior landlord or mortgagee

  

 4 

	 	(5)	Any covenant by the Tenant not to do an act or thing shall be deemed to include an obligation not to permit or suffer such act or thing to be done by another person if that person
is acting with the consent or knowledge of the Tenant 

  

	 	(6)	Any provisions in this Lease referring to the consent or approval of the Landlord shall be construed as also requiring the consent or approval of any mortgagee of the Premises and
any Superior Landlord where such consent shall be required but nothing in this lease shall be construed as implying that any obligation is imposed upon any mortgagee or any Superior Landlord not unreasonably to refuse any such consent or approval

  

	 	(7)	References to “consent of the Landlord” or words to similar effect mean a consent in writing signed by or on behalf of the Landlord and to “approved” and
“authorized” or words to similar effect mean (as the case may be) approved or authorized in writing by or on behalf of the Landlord 

  

	 	(8)	References to “the last year of the Term” include the last year of the Term if the Term shall determine otherwise than by effluxion of time and references to ‘the
expiration of the Term’ include such other determination of the Term 

  

	 	(9)	References to the term “Lease” shall include the term “Under lease” (and vice-versa) and references to the term “Under lease” shall include the term
“Lease” or “Sub-Under lease” 

 DEMISE 
 2. THE Landlord DEMISES to the Tenant the Property for the Term 
 RIGHTS INCLUDED AND EXCEPTED 
  

					
	3.	  	(a)	 	THE rights and privileges set out in the Second Schedule are included in the demise and are exercisable in common with the Landlord and all other persons entitled to them
			
		  	(b)	 	The rights privileges and other matters set out in part 1 of the Third Schedule are excepted and reserved from the demise
			
		  	(c)	 	This demise is subject to the rights privileges covenants and other matters set out in Part 2 of the Third Schedule

  

 5 

	 	(d)	Nothing in this deed shall confer on the Tenant any liberty privilege assessment right or advantage whatsoever mentioned or referred to in section 62 of the Law of Property Act 1925
save those expressly set out in this deed 

 RENT 
 4. DURING the whole of the Term the Tenant shall pay by way of rent the aggregate of the following:- 
  

			
	FIRST	  	from the term commencement date to the date immediately before the First Anniversary the annual rent of £59,252 from the First Anniversary to the date immediately before the Second
Anniversary £126,606 and from the Second Anniversary the annual rent of £163,959 (or such other sum as shall become payable under the provisions of Clause 58 of this Deed)
		
	SECONDLY	  	the Service Charge Percentage of the service expenses as defined in accordance with the provisions of the Fourth Schedule
		
	THIRDLY	  	the Service Charge defined in and payable in accordance with the Fifth Schedule
		
	FOURTHLY	  	any VAT payable by virtue of this Lease and any General Rates, Water Rates or uniform Business rates or other payments referred to at Clause 5(2) hereof
		
	FIFTHLY	  	the notional rent for the Reception Area set out in the Eighth Schedule hereof

 The annual rent first reserved being payable (by bankers’ standing order should the Landlord so require) by
equal quarterly installments in advance on the usual quarter days in each year or on the day on which clearing banks are open for business immediately preceding such dates should any of them not be such a day the first installment or a proportionate
part thereof to be paid on the date hereof and to be in respect of the period from the date hereof to the quarter day next here after occurring All such sums hereinbefore mentioned to be paid without any deduction what so ever (other than such as
may for the time being be required by law to be made) 
  

 6 

 TENANT’S COVENANTS 
  

									
		
	5.	  	THE Tenant agrees with the Landlord to perform and observe the following covenants:-
			
	(1)	  	(a)	  	To pay the rents and other sums hereinbefore reserved at the times and in the manner set out or as provided above without any deduction except as provided above
				
		  	(b)	  	(i)	  	If the Tenant shall fail for a period exceeding “the grace period” as hereinafter defined to pay to the Landlord any money payable by the Tenant to the Landlord pursuant to
any of the Tenant’s covenants contained in this deed (including the covenant to pay the rents hereby reserved) to pay interest on such money at the Basic Rate as well after as before any judgment calculated and accruing on a daily basis from
the date such money becomes due up to and including the date of actual payment thereof
				
		  		  	(ii)	  	For the purposes of this sub-clause (b) “the grace period shall commence on the date on which the payment in question falls to be made hereunder and shall end:-
					
		  		  		  	(a)	 	in the case of the rent firstly hereinbefore reserved seven days after such date; and
					
		  		  		  	(b)	 	in any other case twenty-one days after such date
			
	(2)	  	(a)	  	To pay on demand to the Landlord the Service Charge Percentage of all existing and future rates (with the exception of General Rates Uniform Business Rates or Water Rates from the
Tenant for the Building) and any assessments charges and outgoings of every kind (whether or not recurring and whether of an existing or novel nature) Payable by law in respect of the Building or any part of it by the owner lessor or lessee or
occupier of it to the extent that the same are payable by any other lessee or occupier or to the extent that the same are out or any dealing with the landlord revision.
			
		  	(b)	  	To pay on demand to the Landlord the Service Charge Percentage of all existing and future rates assessments charges and outgoings of the same kind as those mentioned in paragraph (a)
above payable by law in respect of

  

 7 

					
		  		  	such parts of the Estate which are used in common by the Tenant and other occupiers on the Estate whether or not together with other property and whether payable by the owner lessor lessee or
occupier thereof.
			
		  	(c)	  	To pay on demand to the Landlord 24.14 percent of all General Rates or Uniform Business Rates and Water Rates or any assessments or payments substituted therefore made in relationship to the
Building if the premises are not separately assessed for the same.
			
		  	(d)	  	To pay on demand to the Landlord the Service Charge Percentage of all charges
			
		  	(e)	  	for gas, electric and water (including meter rents and standing charges) consumed in the Building.
		
	(3)	  	At all times to repair and keep the Property and its appurtenances in good and substantial repair and condition throughout the term PROVIDED THAT in so far as the Schedules of
Condition relate to the Property and show items of disrepair the Tenant shall not be liable to repair the same to a standard greater than the state of repair and condition shown in the Schedules of Condition and the Tenant shall not be liable to
make any repairs caused as a result of the Inherent Defect
		
	(4)	  	In 2002 and every fifth year of the Term thereafter and in any event in the period of twelve months immediately preceding the Determination of the Term (but never more than once in
any period of twelve months) in a proper and workmanlike manner to prepare and paint all the inside wood metal and other parts of the Property usually or requiring to be painted with not less than two coats of good quality paint and so that such
internal painting in the last year of the Term shall be of a tint or color approved in writing by the Landlord (such approval not to be unreasonably withheld or delayed) AND in like manner to prepare and whitewash color-wash distemper grain varnish
or wax and otherwise decorate with good quality materials all internal parts of the Property as the same are now or ought to be so treated And as often as may be necessary to clean and treat in a suitable manner for its maintenance in good condition
all the inside wood and metal work and stone not required to be painted or polished or distempered and to clean all tiles faiences glazed bricks and similar washable surfaces and so that in the last year of the Term the tints colors and patterns of
all such works of internal decoration shall be approved by the Landlord in writing (such approval not to be unreasonably withheld or delayed)
			
	(5)	  	(a)	  	Not to make or suffer or permit to be made any improvements in respect of the Property nor to erect any other building structure pipe wire or post upon the Property or make or suffer to be made
any internal or external alteration

  

 8 

	 	  	in or addition to it or cut maim or injure or suffer to be cut maimed or injured any of its roofs walls girders timbers ceilings floors wires pipes drains boundary fences or walls
or appurtenances or make or suffer to be made any gate or window or door or opening in it and to report in writing to the Landlord any defects in or wants of repair to the Property or any part of it within a reasonable time of the Tenant becoming
aware of it and not to commit or permit or suffer any waste spoil damage overloading of floors or ceilings or destruction in or upon the Property 

  

	 	(b)	Notwithstanding the terms of paragraph (a) of this sub-clause not to make or suffer or permit to be made any alteration in or addition to the Property without submitting to the
Landlord plans and specifications of any proposed alteration or addition and obtaining the Landlord’s written approval of them (such approval not to be unreasonably withheld or delayed in respect of alterations or additions which do not
materially affect the structure or exterior of the Property) 

  

	 	(c)	Not save for any internal non-load bearing demountable partitions (for which Landlords consent will not be required but for which Superior Landlords consent may be required) to
erect or alter any partitions in the Property which h may or so place any furniture fittings equipment or other furnishings in the Property as to materially adversely affect the performance of the heating and air conditioning system in the Property

  

	(6)	Not to allow to pass into the sewers drains or watercourses serving the Property or any adjoining or neighboring premises any noxious or deleterious effluent trade effluent or other
substance which may cause an obstruction in or injure the said sewers drains or water courses nor discharge effluent of any description into any surface water sewerage system and in the event of any such obstruction or injury forthwith to remove
such obstruction and to make good all damage to the reasonable satisfaction of the Landlord’s surveyor within a reasonable time of becoming aware of the same 

  

	(7)	At all times during the Term and at the Tenant’s own cost to do and execute or cause to be done and executed all works (whether improvements or repairs) to do all things and to
comply with all requirements which under or by virtue of any enactment in force now or in the future are or shall be directed or necessary to be done executed or performed upon or in respect of the Property or any part of it or in respect of its
user by the owner lessee or occupier of it the employment or residence there of any person or any fixture machinery plant or chattel in the Property and (to the same extent) at all times to indemnify and keep indemnified the Landlord and the
Landlord’s estate and effects against all claims demands expenses damages penalties and liability in respect of such matters And to refund 

  

 9 

					
		  	to the Landlord all costs charges and expenses incurred by the Landlord in executing all such works mentioned above or in canting out any works remedying any matter or complying with
any requirement relating to the Property in obedience to a notice served by any local public or statutory authority or other competent person
		
	(8)	  	To permit the Landlord the Superior Landlord and anyone authorized by the Landlord at all reasonable times (and on seven days prior written notice) to enter and view the state and
condition of the Property or its actual user and to take schedules or inventories of the fixtures and fittings there and within three months (or sooner in the case of emergency) after the Landlord or the Landlord’s agents or surveyors shall
have given to the Tenant or left at the Property a notice in writing of any defects decays or wants of repair found there well and substantially to repair and make good the same in accordance with the Tenant’s covenants And if the Tenant shall
fail to comply with the requirements of any such notice or shall make default in the performance of any of the Tenant’s covenants it shall be lawful for the Landlord or for the Landlord’s contractors agents and workmen (but without
prejudice to the right of re-entry contained in this deed) to enter the Property to execute such works as may be necessary to comply with every such notice or the said covenants And in the event of the Landlord so entering the Property and carrying
out such works then the Tenant shall pay to the Landlord on demand the costs and expenses of and incidental to such works (including solicitors’ costs and surveyors’ and other professional fees) notwithstanding that the carrying out of
such works may cause obstruction annoyance or inconvenience to the Tenant or other occupiers of the Property PROVIDED THAT neither the Landlord nor anyone else so entering shall be liable for any disturbance inconvenience or loss of business or
other damage to the Tenant resulting from any such entry or the carrying out of such works or other things but shall endeavor to minimize such disturbance and inconvenience
			
	(9)	  	(a)	  	Not to do or permit or suffer on the Property or any part of it any act matter or thing whatsoever which may be or tend to be a nuisance annoyance or disturbance or cause or tend to cause damage
to the Landlord or the owners tenants lessees or occupiers of the Estate or of any adjoining or neighboring premises and (b) Not to do or permit or bring in or upon the Property anything which may put on the Property any weight or impose strain in
excess of that which the Property is calculated to bear with due margin for safety
		
	(10)	  	Not to use or permit or suffer the Property or any part of it to be used for any illegal or immoral purposes

  

 10 

					
	(11)	  	(a)	  	Not without the written consent of the Landlord to affix erect attach or exhibit or permit or suffer so to be upon any part of the exterior or in the windows of the Property any placard poster
notice advertisement name or sign whatsoever PROVIDED that the name and logo of the Tenant and the nature of the trade business or profession carried on there by the Tenant may be displayed in such manner and in such form and character as shall be
reasonably determined in writing by the Landlord having due regard for the Tenant’s requirements
			
		  	(b)	  	With the consent in writing of the Landlord (such consent not to be unreasonably withheld or delayed) to display on the Estate Board provided for that purpose by the Landlord the name of the
Tenant and the nature of the Tenant’s business in a form to be reasonably determined by the Landlord
		
	(12)	  	Not to hold or permit or suffer to be held any sale by auction in the Property
		
	(13)	  	Not to share or license the occupation of the whole or any part of the Property for all or any part of the Term with or to anyone whomsoever PROVIDED THAT the Tenant shall be
permitted to share occupation of the Property with any other company or companies being within the same group (as defined by Section 42(1) of the Landlord and Tenant Act 1954) as the Tenant provided that no relationship of landlord and tenant is
thereby created and for so long only as that company or companies remain within the same Group aforesaid
			
	(14)	  	(a)	  	Not to assign underlet charge or otherwise part with possession of part only of the Property
			
		  	(b)	  	Not without the prior consent in writing of the Landlord not to be unreasonably withheld to assign the Property as a whole
			
		  	(c)	  	Not to transfer demise underlet or otherwise part with possession of the whole of the Property for all or any part of the Term without having obtained within three months immediately prior to
such dealing the license in writing of the Landlord which (subject as provided below) shall not be unreasonably withheld or delayed PROVIDED ALWAYS that it shall be lawful for the Landlord to withhold any such license unless before any such
assignment or under lease shall be executed or possession shall be given to the intended assignee or under lessee the Tenant shall procure the execution of and deliver to the Landlord a deed to be prepared by the Landlord’s solicitors at the
cost of the Tenant containing a covenant by the intended assignee or under lessee directly with the Landlord to perform and observe

  

 11 

 during the Term assigned or granted to the assignee or under lessee the covenants (including this present
covenant) by the Tenant and conditions contained in this deed (save in the case of an under lease to pay the rent reserved in this deed) in the same manner as if such covenants and conditions were repeated in extensor in such deed with the
substitution of the name of the intended assignee or under lessee for the name of the Tenant and with such other alterations as the deaths of parties or as other circumstances shall render necessary AND PROVIDED ALSO that the Landlord’s consent
in the same manner and subject to the same conditions and provisos as set out in this sub-clause shall be necessary for every under letting under which the under lessee is to take up occupation of the Property or any part of it 
  

	 	(d)	PROVIDED FURTHER that if the Landlord shall reasonably so require a guarantor acceptable to the Landlord shall be obtained who shall join in such license as surety for such intended
assignee in order to covenant with the Landlord as surety that such intended assignee will pay the rent and perform and observe the covenants and conditions in this deed and to indemnify and save harmless the Landlord against all loss damage costs
and expenses arising by reason of any default by such intended assignee AND such covenant shall further provide that any neglect or forbearance of the Landlord shall not release or exonerate any such surety AND shall further provide for the surety
to accept a new lease of the Property upon disclaimer of this deed by the intended assignee or on its behalf or forfeiture by the Landlord if so required by the Landlord within three months of such disclaimer or forfeiture and shall further provide
for the intended assignee within Fourteen (14) days of the death of the surety or of the surety becoming bankrupt or having a receiving order made against him or being a company entering into liquidation or otherwise ceasing to exist to give
written notice thereof to the Landlord and if so required by the Landlord at the intended assignee’s expense within Twenty-eight (28) days of such request to procure some other person acceptable to the Landlord to execute a guarantee in
the form specified above Such new lease to be for the residue then unexpired of the Term hereby granted and at the rent payable and subject to the same lessee’s covenants and to the same provisos and conditions as those in force immediately
before such disclaimer or forfeiture and to be granted at the cost of the surety in exchange for a counterpart duly executed by the surety 

  

	 	(e)	Notwithstanding anything contained in this Lease the Landlord shall be entitled in its absolute discretion to withhold consent to any proposed assignment of the Property in any one
or more of the following circumstances:- 

  

	 	(i)	rent or other sums due under this Lease are in arrears; or 

  

 12 

	 	(ii)	proceedings have been issued and not withdrawn or settled in respect of a breach or alleged breach of any of the covenants or conditions on the part of the Tenant contained in this
Lease; or 

  

	 	(iii)	an Authorized Guarantee Agreement duly executed and completed by the Tenant has not been delivered to the Landlord; or 

  

	 	(iv)	the proposed assignee cannot show that it had net profits before tax (as stated in its accounts prepared and published in accordance with the Companies Act 1985 and 1989 and
relevant statements of accounting practice in the case of a limited company or in any other case calculated in accordance with recognized accounting and auditing procedures) for the preceding three completed financial years of the person firm
company or other body or entity being the proposed assignee immediately preceding the date of application for consent to the assignment which exceed the aggregate amounts of the rents first secondly and thirdly hereby reserved unless the proposed
Assignee is able to provide such other form of guarantee or security as the Landlord shall reasonably require; or 

  

	 	(v)	the Tenant has not paid the Landlord’s and the Landlord’s Solicitors proper costs and disbursements including Value Added Tax in connection with the application for such
consent and the license to assign. 

  

	 	(f)	Notwithstanding any provision in this Lease the Landlord shall not be obliged to consent or agree to any variation of the terms of this Lease that would result in any former tenant
or guarantor being released from liability. 

  

	(15)	All under leases shall be in a form containing covenants and provisions similar to those in this deed so far as applicable and in particular (unless the term of any such under lease
shall expire before the next ensuing rent review date provided for in this deed) any such under lease shall provide for the rent reserved thereby to be reviewed by reference to the open market rental value of the premises comprised in any such under
lease on the rent review dates set out in this deed 

  

	(16)	Without prejudice to the generality of paragraph (15) of this sub-clause on the grant of any permitted under lease to obtain in such deed and subsequently at all times to
enforce performance and observance of covenants on the part of the under lessee as follows:- 

  

	 	(a)	an absolute covenant not to assign underlet or part with possession of any part nor share or license the occupation of the whole or any part of the sub-demised premises

  

 13 

	 	(b)	a qualified covenant not to assign or underlet the whole of the sub-demised premises without the license in writing of the lessor (the grant of which shall be subject to the same
provisos as are set out above in this sub-clause) nor without any necessary license in writing of a superior lessor 

  

	 	(c)	a covenant that the under lessee will cause to be inserted in every subunderlease whether immediate or derivative covenants on the part of the relevant subunderlessee corresponding
to the covenants numbered (a) and (b) above and that the underlessee will at all times enforce them 

  

	 	(d)	and also the provision (mutatis mutandis) of clause 14 (e) 

  

	(17)	Without prejudice to Clause 5(16) to enforce the due performance and observance by the underlessee of all covenants conditions and obligations binding on the underlessee in any
permitted underlease 

  

	(18)	Not without the written consent of the Landlord (which shall not be unreasonably withheld or delayed) to accept a surrender of or vary or waive any of the terms of any permitted
underlease 

  

	(19)	Notwithstanding anything contained in this deed the Tenant shall not create or permit the creation of any interest derived out of the Term granted by this deed howsoever remote or
inferior upon the payment of a fine or premium or at less than the full open market rent (obtainable without taking a fine or premium) of the Property or any part of it and shall not create or permit the creation of any such derivative interest save
by instrument in writing containing the same absolute prohibition as in this Clause 5(19) 

  

	(20)	To pay a fair proportion (to be determined by the Superior Landlord’s Surveyor or at the Landlord’s discretion the Landlord’s surveyor acting reasonably for the time
being which determination shall (in the absence of manifest error) be conclusive) of the expenses incurred in respect of repairing maintaining renewing rebuilding decorating lighting and cleansing all party structures sewers drains channels sanitary
apparatus pipes wires cables passageways entrance ways roads pavements gardens spaces and other things the use of which is common to the Property the Building and to other premises on the Estate 

  

	(21)	To permit the Landlord and anyone authorized by the Landlord at all reasonable times during the Term on seven days prior written notice to enter the Property and

  

 14 

					
		  	to execute any works of repair maintenance renewal cleansing alteration or other works (none of such works being demolition reconstruction or substantial work of construction within
Section 30(1) (f) of the Landlord and Tenant Act 1954) of or to the Estate or to any adjacent or neighboring premises or for any of the purposes referred to in the last foregoing sub-clause or for the purpose of providing the services referred to in
the Fourth Schedule hereto or for any other necessary or reasonable purpose whatsoever And so far as any defects remedied or works done by the Landlord may be included in the Tenant’s covenants to repair set out above then the costs incurred
shall be a debt due horn the Tenant to the Landlord and be forth with recoverable by action Provided that the Landlord shall make good to the reasonable satisfaction of the Tenant all damage to the Property caused by such works And provided further
that (save where the same are included in the Tenant’s said covenants and the Tenant shall at the date of such entry be in breach thereof) neither the Landlord nor anyone else so entering shall be liable for any disturbance inconvenience loss
of business or other damage to the Tenant resulting from any such entry or the carrying out of such works or other things
			
	(22)	  	(a)	  	To pay and indemnify the Landlord against all reasonable and properly incurred expenses including solicitors’ costs and surveyors’ fees incurred by the Landlord incidental to the
preparation and service of a notice under section 146 or section 147 of the Law of Property Act 1925 or incurred by the Landlord in or in contemplation of proceedings under sections 146 or 147 of that Act (notwithstanding in any such case forfeiture
is avoided otherwise than by relief granted by the Court) or incurred by the Landlord in connection with the recovery of arrears of rent due and unpaid
			
		  	(b)	  	To pay and indemnify the Landlord against all reasonable and properly incurred expenses including solicitors’ costs and surveyors’ fees incurred by the Landlord in and incidental to
the service of all notices and schedules and subsequent proceedings relating to wants of repair to the Property whether they be served during or after the determination of the Term but relating only to wants of repair occurring before the
determination of the Term
			
		  	(c)	  	Without prejudice to paragraphs (a) and (b) of this sub-clause to pay and indemnify the Landlord against all reasonable and properly incurred expenses including solicitors’ costs and
surveyors’ fees incurred by the Landlord in and incidental to the prevention or other dealing with the non- performance nonobservance or breach of any of the provisions of this deed
			
	(23)	  	(a)	  	Not to do or omit or suffer to be done or omitted anything in contravention of the enactments for the time being in force relating to planning control

  

 15 

 and development or the protection and preservation of amenities and in particular to comply with the
conditions attached to any permission for development given in relation to the Property and at all times (without prejudice to any statutory rights of the Landlord) to indemnify and keep indemnified the Landlord against all actions proceedings costs
expenses claims demands and liability in respect of such matters And forthwith to produce to the Landlord on receipt of notice of them any notice order or proposal made given or issued under or by virtue of such enactments directly or indirectly
affecting or relating to the Property and at the request and expense of the Landlord to make or join with the Landlord in making every such objection or representation against them that the Landlord shall deem expedient 
  

	 	(b)	Without prejudice to the terms of clause 5(6)(b) hereof not to make any application for planning permission in respect of the Property or to carry out any development or other works
whatsoever at the Property if the making of such application for planning permission or the grant of a planning permission pursuant thereto or the canings out of such d development or other works would give rise to any tax charge or other levy
payable by the Landlord 

  

	(24)	To be responsible for and to indemnify the Landlord against all damage and injury occasioned to the Property or to the Estate or any adjacent or neighboring premises or any property
there or to the Tenant or any person caused by any act default or negligence of the Tenant or any servant or agent or invitee of the Tenant 

  

					
	(25)	  	(a)	  	Not knowingly to permit or suffer to be made any encroachment onto nor to permit or suffer to be acquired any easement over or against the Property or any part of it and at the request of the
Landlord to take all proper and reasonable steps to prevent obstruct restrain or prohibit any such encroachment or easement And upon any such encroachment or easement or attempted encroachment or easement or threat of them coming to the knowledge of
the Tenant within a reasonable time to give notice in writing of such matters to the Landlord and to keep the Landlord fully informed in regard to all matters mentioned in this sub-clause
			
		  	(b)	  	To take all reasonable steps to prevent every easement right or privilege at any time during the Term belonging to or used with the Property from being obstructed or lost and in particular not
to stop up darken or obstruct any door window or opening in the Property

  

 16 

					
	(26)	  	(a)	  	To observe and perform the Use Covenants
			
		  	(b)	  	Not to place or expose for sale or otherwise or permit or suffer so to be upon or over the ground outside the Property or in or about the Estate any goods or things whatsoever
			
		  	(c)	  	Not to load or unload any vehicles or other conveyances nor suffer or permit the same save at those parts of the Building or Estate specifically designated by the Landlord for that purpose
PROVIDED that the Tenant shall not thereby cause any obstruction or hindrance to the passage of vehicles of the Landlord or of any superior landlord or anyone authorized by them or the tenant or occupiers of the Estate or of any adjacent or
neighboring premises or others and shall be subject to all such regulations as the Landlord shall from time to time in the interests of good estate management lay down for the control of traffic to and from the Estate or for the use of any loading
areas or access ways PROVIDED THAT it is agreed between the Landlord and the Tenant that for as long as that part of the Estate Road which is colored brown on Plan A remains a private road any intention by the Landlord to restrict the flow of
vehicular traffic in a particular direction shall first be the subject of consultation with the Tenant and PROVIDED FURTHER that the Tenant will not thereby cause congestion of the road adjoining the Estate nor inconvenience any other user thereof
nor allow any vehicle to be parked on any part of the service roads footways or service areas of the Estate save those constructed for that purpose
			
		  	(d)	  	Not at any time during the Term to cause any damage to (fair wear and tear excepted) or obstruction in such parts of the Estate as are used by the Tenant in common with the Landlord or any other
persons similarly entitled and in particular but without prejudice to the generality of the foregoing provisions to make adequate arrangements for the frequent removal from the Estate of all refuse and rubbish of the Tenant or other permitted
occupants of the Property
			
		  	(e)	  	Not to bring or suffer to be brought or kept upon any part of the Property or the Estate not built upon anything which is untidy unclean unsightly or in any way detrimental to the amenity of the
Estate and in particular and without prejudice to the generality of the foregoing not to form any refuse dump or rubbish or scrap heap on the Property save for r e h e skips screened to the reasonable satisfaction of the Landlord but to remove not
less frequently than once a month all refuse rubbish scrap used tins cans boxes and other containers which may have accumulated thereon and

  

 17 

 generally to keep such parts of the Property as remain for the time being un-built upon clean and in good
order and free from noxious weeds and within Twenty-one (21) days to comply with the requirements of any written notice by the Landlord to restore the amenity as aforesaid and in the event of the Tenant failing to comply with such notice the
Landlord shall be entitled to enter upon the Property and carry out any works necessary to comply with such notice and to recover the reasonable and properly incurred cost thereof from the Tenant as a liquidated debt 
  

	 	(f)	Not to use or permit or suffer to be used any part of the Property which may remain open and un-built upon for the keeping or storage either temporarily or permanently of any
mechanically propelled vehicle or caravan or movable dwelling or for the keeping or Storage of any goods chattels or thing of any nature whatsoever provided always that the user on the Property of any mechanically propelled vehicle operating in the
normal course of and in connection with the Tenant’s trade or business shall not be deemed to be a breach of this covenant 

  

	 	(g)	Not to interrupt or interfere with any footpath piped watercourse or any sewers pipes cables or conduits of any kind or other services serving the Property the Estate or any land
adjoining the Estate 

  

	(27)	To permit the Landlord at all reasonable times and on seven days prior written notice to enter the Property to affix and retain in a reasonable position without interference upon
any part of the Property a notice for relenting or otherwise dealing with or disposing of it and to permit persons with written authority of the Landlord or the Landlord’s agents at reasonable times of the day and on seven days prior written
notice to view the Property 

  

					
	 (28)
	  	(a)	  	Within one month after any assignment under lease assignment of any under lease mortgage charge transfer disposition or devolution of the Property (or any part of it) whether effected orally or
in writing to give notice of such transaction in duplicate to the Landlord’s solicitors and to produce to them the original or a certified copy of the instrument or instruments (including any relevant court order probate letters of
administration or assent) or if it be made orally a memorandum of the terms of such transaction And also to deliver to the Landlord’s solicitors for retention a copy of any such document and to pay to them a fee of eight pounds for the
registration of the transaction Provided that nothing in this sub-clause shall be consumed so as to enlarge or vary or relax the provisions of any other part of this deed

  

 18 

	 	(b)	Within one month of the ascertainment of the annual rent payable under any underlease of the Property or any part of it pursuant to the provisions in such deed for rent review to
give notice in writing to the Landlord of the annual rent so ascertained 

  

	 	(c)	Immediately on receiving a request for the same from the Landlord or its agents to give the following information to the Landlord in writing:- 

  

	 	(i)	full names and addresses of all persons in occupation of the Property or any part of it 

  

	 	(ii)	the precise part of the Property which such persons occupy 

  

	 	(iii)	full names and addresses of all persons entitled or claiming to be entitled to an interest in the Property or any part of it (whether at law or in equity) 

 

	 	(iv)	the precise part of the Property in which each such person is or claims to be entitled to an interest 

  

	(29)	Not to do or omit or suffer to be done or omitted any act matter or thing whatsoever the doing or omission of which would make void or avoidable the insurance of the Property or the
Estate or any part of them or of any adjoining or neighboring premises belonging I to the Landlord or which would require any works to the Property or the Estate or any such adjoining or neighboring premises or which would otherwise hinder the
Landlord from carrying out its insuring obligations in this deed and to reimburse the Landlord to the extent of any increased premium payable in respect of the Property or the Estate or any such adjoining or neighboring premises where such increase
is payable as a result of any act or default of the Tenant or the carrying on by the Tenant of any user on the Property attracting a premium in excess of the usual premium or rate payable for Industrial warehouse or office premises and to comply
with all reasonable recommendations of the insurers as to fire precautions and in particular (but without prejudice to the generality of the foregoing) not to overload the electrical wiring or apparatus 

  

	(30)	In the event of the Property or any part of it being destroyed or damaged to give notice in writing thereof to the Landlord as soon as practicable after such destruction or damage
shall come to the notice of the Tenant 

  

	(31)	In the event of the Property or any part of it being destroyed or damaged by any of the Insured Risks and the insurance money under any insurance against the same effected by the
Superior Landlord or the Landlord being wholly or partly 

  

 19 

 irrecoverable by reason solely or in part of any act or default of the Tenant then and in every such case
the Tenant will forthwith pay to the Landlord the whole or (as the case may be) a fair proportion of the cost (including professional and other fees) of completely rebuilding and reinstating the same with interest at the Basic Rate as aforesaid on
all payments made by the Landlord in or in connection with such rebuilding or reinstating from the time of expenditure until payment by the Tenant 
  

	(32)	To yield up the Property at the determination of the Term in accordance with the Tenants covenants hereinbefore contained (but the Tenant may and shall if so required by the
Landlord remove at such time tenant’s fixtures the Tenant making good all damage occasioned by the removal) 

  

	(33)	To pay to the Landlord all reasonable and properly incurred solicitors’ costs and surveyors’ and consultants’ fees and other reasonable expenses properly incurred by
the Landlord attendant upon or incidental to every application made by the Tenant for a consent or license required or made necessary by this deed whether they be granted or (on reasonable grounds) refused or whether the application be withdrawn but
not (for the avoidance of doubt) where consent is unreasonably withheld 

  

	(34)	To the extent following to indemnify and keep indemnified the Landlord and the Superior Landlord from and against any liability in respect of all actions proceedings claims demands
losses and expenses damages and other liability in respect of:- 

  

	 	(a)	any injury to or the death of any person or damage to any property movable or immovable by reason of or arising in any way out of the repair state of repair condition or the user of
or any alteration to the Property save as the result of any Inherent Defect for which the Tenant is not responsible pursuant to the terms of this Lease 

  

	 	(b)	save as to any interference or alleged interference with or obstruction of any right or alleged right of light air drainage or other right or alleged right benefiting any adjoining
or neighboring property 

  

	 	(c)	any stoppage of the drains caused by the Tenant or its servants agents or invitees used in common with the owner or occupier of any adjoining or neighboring property

  

	 	(d)	all general rates which may be payable by the Landlord as a result of the Tenant vacating the Property at any date prior to the determination of the Term 

 

 20 

	(35)	Save where the same result from the user of the Property for the purposes expressly permitted by these presents to observe aid perform the covenants stipulations and other matters
set out in part 2 of the Third Schedule so far as they relate to or affect the Property or any part of it and at all times to indemnify the Landlord from and against all actions proceedings costs claims demands and liability arising directly or
indirectly out of any breach or nonobservance of any of such covenants stipulations and other matters by the Tenant its servants or agents 

  

	(36)	To give written notice to the Landlord of any notice order or proposal for a notice or order directly or indirectly affecting the Property or the Estate within a reasonable time of
it being served on the Tenant or the Property and to provide the Landlord with a copy of it and if so required by the Landlord and at the Landlord’s expense to join in making such objections or representations concerning such matters as the
Landlord may require 

  

	(37)	To pay to the Landlord any VAT chargeable in respect of any payment made by the Tenant under any of the terms of or in connection with this Lease or in respect of any payment made
by the Landlord where the Tenant agrees in this Lease to reimburse the Landlord for such payment 

  

	(38)	Not without the previous consent in writing of the Landlord (such consent not to be unreasonably withheld or delayed) to erect on or affix to the Property any apparatus for the
reception or transmission of television radio wireless or telegraphy and in the event of such permission being obtained not to make any claim against the Landlord in respect of any disturbance of or interference with the reception or transmission of
television radio or wireless or telegraphy caused by the use of electrical apparatus or installations on any premises in the control or occupation of the Landlord including in particular any premises in respect of which the Landlord is either
immediately or immediately the landlord 

  

	(39)	Without prejudice to the foregoing covenant not to use or permit or suffer any radio electric or electronic equipment to be used in the Property in such manner or condition as
persistently to cause electric electronic or other forms of interference to adjoining or neighboring premises or equipment owned or operated there 

  

	(40)	Within a reasonable time of becoming aware of the same to give notice in writing to the Landlord of any defect in the state of the Property which would or might give rise to any
obligation on the Landlord to do or refrain from doing any act or thing in order to comply with the duty of care imposed on the Landlord pursuant to the Defective Premises Act 1972 and save where the same results either directly or indirectly from
an Inherent Defect for which the Tenant is not responsible pursuant to the terms of this Lease to indemnify and keep indemnified the Landlord from or against any loss claims actions costs or demands arising from a failure to give such notice within
a reasonable time 

  

 21 

	(41)	To ensure that every fuel burning appliance employed on the Property is constructed so as substantially to consume or bum the smoke arising there from and for this purpose but
without prejudice to the generality of the provisions of this clause to install only fuel burning appliances in respect of which the prior approval of the Landlord has been obtained (such approval not to be unreasonably withheld or delayed) and will
not use or suffer to be used negligently any such fuel burning appliance so that the smoke arising there from is not substantially consumed or burnt and will not cause or permit any grit or noxious or offensive effluvia to be emitted, from any
chimney flue or other apparatus on the Property without using the best practicable means for preventing or counteracting such emission 

 LANDLORD’S COVENANTS 
  

					
	6.	  	The Landlord agrees with the Tenant to perform and observe the following covenants:-
		
	(1)	  	The Tenant shall peaceably hold and enjoy the Property throughout the Term without any interruption by the Landlord or by any person rightfully claiming through under or in trust for
the Landlord or by title paramount
			
	(2)	  	(a)	  	To use its best endeavors to procure that the Superior Landlord insures and keeps insured the Estate PROVIDED THAT at the Landlords discretion the Landlord may insure the Building with some
insurance office or underwriters of repute in the full reinstatement cost thereof against loss or damage by the insured risks and promptly makes all payments for that purpose including the cost of inspections by the insurers’ surveyors and
subject to Clause 7(6) of this deed to use its best endeavors to procure that the Superior Landlord lays out and expends all the money which shall be paid by such insurance office or underwriters in respect of the Property (save for loss of rent) in
rebuilding or otherwise reinstating with all reasonable speed the Property making up any deficiency out of its own resources save to the extent that any deficiency arises by virtue of any act or default of the Tenant its servants agents or
employees
			
		  	(b)	  	Not more frequently than once in every year and on a request therefore from the Tenant to produce to the Tenant a copy of such policy (or brokers’ details thereof) and of the receipt for
the last premium paid
			
		  	(c)	  	To use all reasonable endeavors to cause the interest of the Tenant to be noted either specifically or generally on any such policy

  

 22 

	(3)	Save where prevented by causes beyond the Superior Landlord or the Landlord’s control to carry out or procure that the Superior Landlord carries out and provides the works and
other functions and operations referred to in paragraphs 2,3 and 4 (and paragraph 16 in the event that the Landlord reasonably considers it necessary or desirable to canny out any such work as is referred to in that paragraph) of Part 2 of the
Fourth Schedule to this deed PROVIDED that without prejudice to the said-Fourth Schedule the Landlord may at its sole discretion and at any time withhold or vary any of such works functions and operations PROVIDED FURTHER that such withholding or
variation shall not materially impair the Tenant’s use or enjoyment of the Property 

  

	(4)	The Landlord acknowledges that there shall be excluded from the Service Charge the cost of any repairs to the Building necessitated by the Inherent Defect or in the Building of
which it has notice or which it ought reasonably to have had prior notice. 

  

	(5)	Where in this Lease it is stated that the consent of the Landlord will not be unreasonably withheld or delayed the Landlord covenants that it will not unreasonably withhold or delay
such consents 

  

	(6)	The Landlord will use its reasonable endeavors to obtain promptly and free from unsatisfactory terms and conditions the consent of any Superior Landlord where such consent is
required for any matter proposed or required by the Tenant under the terms of this Lease as a provision contained in any Superior Lease 

  

	(7)	The Landlord will procure that the Tenant its staff visitors and others authorized by it are able subject to security requirements in place for the Building and the Estate as a
whole to gain access to the Property at all times of the day and night on every day of the year 

  

	(8)	Except with the prior written consent of the Tenant the Landlord will not vary the name or the postal address of the Building and no naming rights in respect of the Building will be
conferred on any other tenant or other occupier who has at any time any interest or rights affecting the whole or any part of the Building 

  

 23 

 GENERAL PROVISIONS 
 7. THE following further provisions shall have effect: 
 FORFEITURE 
 (1) If and whenever the rent reserved or made payable by the Tenant in this deed or any part of it
shall be in near and unpaid for Fourteen (14) days after it shall have become due (whether illegally demanded or not) or if the Tenant shall at any time fail or neglect to perform or observe any of the covenants conditions or agreements in this
deed and on the part of the Tenant to be performed or observed or if the Tenant being a company shall enter into liquidation (other than a voluntary liquidation for the purpose of reconstruction or amalgamation of a solvent company r where the
reconstructed or amalgamated company assumes the obligations of the liquidated company hereunder) or otherwise cease to exist or if the Tenant being an individual shall become bankrupt or shall have a receiving order made against him or enter into
any arrangement or composition with his creditors and if the expression “the Tenant” shall include more than one company or individual the right of forfeiture herein shall arise in the event of any such company or individual entering into
liquidation or becoming bankrupt as aforesaid then and in any such cases it shall be lawful for the Landlord or any person or persons duly authorized by the Landlord to re-enter the Property or any part of it in the name of the whole and thereon the
Term shall absolutely determine but without prejudice to any right of action or remedy of the Landlord in respect of any antecedent breach of any of the covenants by the Tenant contained in this deed 
 POWER TO DEAL WITH THE LANDLORD’S LAND 
 (2) The Landlord
and Superior Landlord shall have the power at all times without obtaining any consent from or making any compensation to the Tenant to deal as the Landlord and Superior r - Landlord may think fit with any building or any land or property
which is now or shall at any future time be held by the Landlord or Superior Landlord adjoining opposite or near to the Property and to erect or suffer to be erected on such adjoining opposite or neighboring land or property any building whatsoever
whether such building shall or shall not affect or diminish the light or air which may now or at any time or times during the Term be enjoyed by the Tenant or the occupiers for the time being of the Property or any part of it or otherwise constitute
an inconvenience PROVIDED THAT nothing so done shall be allowed materially to impair the Tenant’s enjoyment of the Property 
  

 24 

 EXCLUSION OF LANDLORD’S LIABILITY 
 (3) So far as permitted by law the Landlord shall not be responsible to the Tenant or any underlessee servant agent licensee or invitee of the Tenant or other person occupying or on the Property or any part of it or
calling upon the Tenant or such other persons as aforesaid for any accident or injury suffered by any person or damage to or loss of any chattel or property sustained on the Property or on other parts of the Estate or in the event of:- 

 

	(i)	any works carried out or other things done by the Landlord permitted or required by the provisions of this deed or in the performance of the services impeding or temporarily
obstructing any doors giving access to the Property or 

  

	(ii)	the Tenant incurring any damage or loss directly or indirectly occasioned by or arising out of any regulations made by the Landlord for the control of traffic to and from the
Property or other parts of the Estate 

 NOTICES 
 (4) Without prejudice to any other lawful method of service all notices authorized by this deed or by statute to be served may be served in accordance with the provisions
of Section 196 of the Law of Property Act 1925 and the Recorded Delivery Service Act 1962 
 REBUILDING 
 (5) In any rebuilding or reinstatement of the Property following damage or destruction by any of the Insured Risks neither the Landlord nor the Superior Landlord shall be
obliged to lay out insurance moneys in rebuilding or reinstatement in accordance with the previous sections elevations and specifications of the Property but it shall be sufficient if the Property is restored so as to provide the Tenant with
premises reasonably equivalent to and no less commodious than the Property and thereafter all the covenants and conditions of this deed shall apply to such accommodation mutatis mutandis as they applied to the Property 
  

 25 

 TENANT’S GOODS LEFT IN PROPERTY 
 (6) If at such time as the Tenant has vacated the Property after the Determination of the Term any property of the Tenant shall remain in the Property and the Tenant
shall fail to remove the same within Twenty-eight (28) days after being requested in writing by the Landlord so to do the Landlord may as the agent of the Tenant (and the Landlord is hereby appointed by the Tenant to act as such) sell such
property and shall then hold the proceeds of sale after deducting the costs and expenses of removal storage and sale reasonably and properly incurred by it to the order of the Tenant 
 DIVISION OF PARTY WALLS 
 (7) Such of the division walls fences or structures as divide the Property from other
premises shall be deemed to be party structures and to belong in equal halves (considered as divided vertically down or along the middle throughout the whole length) to the premises on either side and the provisions of Section 38 of the Law of
Property Act 1925 shall apply to them 
 RENT ABATEMENT 
  

	(8)	(a) If the Property or any part of it shall at any time during the term be destroyed or damaged by any of the insured risks so as to be unfit for use or occupation or if the
Property or any part of it shall be damaged or destroyed so as to be unfit for use and occupation then to the extent that the policy or policies of insurance effected by the Superior Landlord or the Landlord against the risk of loss of rent shall
not have been vitiated or payment of the policy money refused in whole or in part in consequence of any act or default of the Tenant the rents hereby reserved or a fair proportion of them according to the nature and extent of the damage or the
affect it has on the Tenant’s beneficial user of the Property sustained shall be suspended and cease to be payable until the earlier of (i) the expiry of the period of three years from the date of such damage or destruction or
(ii) the date when the Property shall have been rebuilt or reinstated and made fit for occupation and use and any dispute concerning this sub-clause shall be determined by a single arbitrator in accordance with the Arbitration Acts 1950 to 1996

 (b) In the event of any such destruction or damage as is referred to in sub-clause (a) hereof where the Property or the
First Property or such part of either as 
  

 26 

 aforesaid shall not be rebuilt or reinstated by the Landlord pursuant to the covenant on its part herein
contained within two years and nine months of the date of such destruction or damage the Tenant may determine the said Term (save as hereinafter mentioned) on the expiration of a period of three months after service on the Landlord of a notice in
writing of its intention so to do such notice to be served at any time following the expiration of two years and nine months from the date of such damage or destruction and following the expiration of the said period of three months after the date
of service of such notice the Tenant’s obligations under this Lease shall cease 
 RENT REVIEW 
 8. (1) The rent fist hereinbefore reserved and payable under this deed shall be revised on 16th December 2000 and 16th December 2005 (hereinafter called the “Review Dates”) and as from each review date the revised rent (ascertained in
accordance with the following provisions of this clause) shall become payable 
  

	(2)	The revised rent shall subject to clause 8(10) be the greater of either:- 

  

	 	(i)	the rent first hereinbefore reserved and payable under the terms of this deed immediately before the relevant review date (“the Current Rent”) or 

 

	 	(ii)	the Market Rent of the Property at the relevant review date 

  

	(3)	For the purposes of this Clause it is hereby agreed and declared that at the date hereof the Property comprises in area [10,578] net internal square feet of office accommodation

  

	(4)	The expression “Market Rent” means the annual rent which might reasonably be obtained in the open market by a willing landlord from a willing tenant without a premium
being paid by either party for a lease (“the hypothetical Lease”) of the Property that contains the same terms as this Lease except the annual rent first reserved at clause 4 of this Lease but includes the provisions for rent review on the
review dates such Lease being for the residue of the term of the Lease at the relevant review date or 5 years whichever is the greater with vacant possession at the commencement of the hypothetical term upon the following assumptions:-

  

	 	(a)	that all the provisions of this deed have been duly observed and performed; and 

  

 27 

	 	(b)	that the user permitted by this deed and all parts of the Property comply with the enactments relating to Town and Country Planning free from onerous conditions; and

  

	 	(c)	that on the relevant review date no damage to or destruction of the Property or its services or any interference with such services has occurred nor any damage to or destruction of
or interference with any part of the state or anything else in respect of which the Tenant enjoys rights has occurred; and 

  

	 	(d)	that the Property is fit for immediate occupation and use and no work has been carried out on the Property by the Tenant its sub-tenants or their predecessors in title which has
diminished the rental value of the Property; and 

  

	 	(e)	that the Tenant has received and has already enjoyed the full benefit of any Concessionary rent free period and/or other inducement in relation to the fitting out of the Property
that a willing Landlord might grant or give to a willing Tenant on such a letting with vacant possession 

 and there being disregarded (if
otherwise applicable) any effect on rental value by reason of:- 
  

	(a)	the fact that the Tenant its sub-tenants or their respective predecessors in title have been in occupation of the Property and 

  

	(b)	any goodwill attached to the Property since the commencement of the Term hereby granted by reason of the carrying on there of the business of the Tenant its sub-tenants or their
predecessors in title in their respective businesses and 

  

	(c)	all improvements authorized by the Landlord including those carried out prior to the commencement of the Term or under the terms of this deed made by the Tenant its sub-tenants or
their respective predecessors in title otherwise than at the cost of or in pursuance of an obligation to the Landlord or one imposed by the terms of this deed or any previous deed pursuant to an obligation to the Landlord and

  

	(d)	so far as may be permitted by law all restrictions whatsoever relating to rent or its recoverability and all provisions relating to any method of determination of rent contained in
any enactment 

 (5) The Market Rent shall be determined by agreement between the Landlord and the Tenant but if by two months before any
review date they shall not have agreed the same the Market Rent may be determined by an independent chartered surveyor of recognized 
  

 28 

 standing being a member of a leading fm of surveyors having been in practice continuously for at least ten years and
having substantial recent experience in valuing premises being situate in Greater London and/or the Home Counties of a kind and character similar to those of the Property to be agreed upon in writing by the Landlord and the Tenant or in default of
such agreement to be nominated by the President or other officer duly authorized for that purpose of the Royal Institution of Chartered Surveyors on the application of either the Landlord or the Tenant such surveyor to act as an expert and to afford
to the parties hereto the right to make written representations and to comment in writing on the written representations of the other the costs of such determination being in the award of such surveyor 
 (6) If the said surveyor shall fail to determine the Market Rent in the manner hereinbefore provided or if he shall relinquish his appointment or die or if it shall
become apparent that for any reason he will be unable to complete his duties hereunder either the Landlord or the Tenant may apply to the said President or other officer for a substitute to be appointed in his place which procedure may be repeated
as many times as necessary 
 (7) In the event of the Landlord and the Tenant not having reached agreement or the said surveyor’s award not having been
published or the said surveyor or the Landlord or the Tenant making application to the Court whether before or after such publication and such application not having been finally determined by the relevant review date for any reason whatever then in
respect of the period of time (“the interval”) beginning with the relevant review date and ending on the quarter day immediately following the date on which agreement is reached or such award is published or such application is finally
determined whichever shall be the latest the Tenant shall pay to the Landlord in the manner provided in this deed the Current Rent PROVIDED THAT at the expiration of the interval there shall be due as a debt payable by the Tenant to the Landlord on
demand the amount by which the Market Rent agreed upon by the Landlord and the Tenant or determined by the said surveyor or the Court as the case may be shall exceed (if it does so) the Current Rent together with interest on such amount at a rate
equal to the base rate of National Westminster Bank Plc from time to time but in respect of both the said excess and the said interest on it duly apportioned on a daily basis in respect of the interval or (in relation to any part of such amount) in
respect of such shorter period as such part shall have been due and payable 
 (8) The revised rent agreed or determined pursuant to the terms of this clause
shall be endorsed by way of memorandum on this deed and the counterpart and signed by or on behalf of the Landlord and the Tenant 
  

					
	(9)	  	(a)	  	The provisions of this clause are not intended to confer an option upon the Landlord to have the said rent revised
			
		  	(b)	  	In this clause time shall not be of the essence

  

 29 

 Surrender 
  

	9	In the event that the user hereby permitted or a substantial part thereof being prevented by due process of law from being enjoyed having regard to the covenants restricting user
affecting the Landlord’s reversion at the date hereof the Tenant shall have the right to surrender this Lease to the Landlord for no consideration upon the expiry of three months’ written notice to that effect such surrender being without
prejudice to any antecedent liabilities hereunder 

 THE 1954 ACT 
  

	10	Having been authorized so to do by order of the Mayor’s and City of London County Court (No. M7978270) made on the 23rd day of December 1991 under the provisions of Section 38(4) of the 1954 Act (as amended by Section 5 of the Law of Property Act 1969) the parties
hereto agree that the provisions of Sections 24-28 of the 1954 Act shall be excluded in relation to the demise hereby created 

 IN WITNESS whereof this deed was duly executed on the date stated above 
 THE FIRST
SCHEDULE 
 The Buildinp 
 PART ONE 
 ALL THAT piece of land situate at Mole Business Park Leatherhead in the County of Surrey together with the Office and Warehouse
Building erected thereon or on part thereof and shown for identification purposes only edged red on Plan B 
 PART TWO

 “The Property” means ALL THAT First Floor office premises shown for the purposes of identification only edged red on Plan C being part
of the Estate including: 
  

	1.	the paint paper and other decorative finishes applied to the interior of the external walls of the Building but not any other part of the external walls 

  

	2.	the underside of the suspended ceiling down to top surface of concrete floor slab beneath the raised floor excluding any parts of the structural frame of the Building but including
any cladding covering or decorative finishes of such parts 

  

 30 

	3.	the entirety of any non-load-bearing internal walls wholly within the Property 

  

	4.	the inner half severed medially of the internal non-load-bearing walls dividing the Property from other parts of the Building 

  

	5.	the doors and the door frames but excluding the external windows and window frames of the Building 

  

	6.	all additions and improvements to the Property 

  

	7.	all the Landlord’s fixtures and fittings and fixtures of every kind which shall from time to time be in or upon the Property whether originally affixed or fastened to or upon
the Property or otherwise except any such future installed by the Tenant that can be removed from the Property without defacing the same and 

  

	8.	any pipes wholly in or on the Property that exclusively serve the Property 

 THE SECOND SCHEDULE 
 Rights and privileges granted 
  

	1.	The free and uninterrupted passage and running of water soil gas electricity and compressed air telephone and other services to and from the Property through and along all the
conduits ducts pipes drains channels watercourses sewers wires and cables which are now or may hereafter during the Term hereby granted be in over or under the Estate and any adjoining premises belonging to the Superior Landlord or the Landlord

  

	2.	The right of way in common with all others entitled thereto over and along the Estate Road colored brown on Plan A with or without vehicles for the purposes only of access to and
egress from the Property 

  

	3.	The right for the Tenant and all persons expressly or by implication authorized by it (in common with the Landlord and all other persons having a like right) to use the Common Parts
(subject always to the Use Covenants) for all proper purposes in connection with the use and enjoyment of the Property 

  

	4.	Subject to the exceptions and reservations hereinafter set out a right of way (in common with the Landlord and all other persons having a like right) on foot only

  

 31 

 over the pedestrian way colored in yellow on Plan B and a right of way (in common with the Landlord
aforesaid) with or without vehicles on the roadway cross hatched green on Plan B 
  

	5.	The right for the Tenant (in common with the Landlord and all other persons having a like right) to use such toilets in the Building as shall be designated from time to time in
writing by the Landlord together with any necessary rights of way for the purpose of gaining access to and egress from such toilets 

  

	6.	The right of support and protection for the benefit of the Property as is now enjoyed from all other parts of the Building 

  

	7.	The right to use (including any necessary ancillary rights of access and egress) the 53 car-parking spaces shown colored green on Plan D annexed hereto for the parking of cars used
by the employees and staff of the Tenant 

 THE THIRD SCHEDULE 
 Exceptions and Reservations 
 PART ONE

  

	1.	The right to enter upon the Property for all or any of the purposes mentioned in this deed provided that the person or persons exercising such right shall cause as little damage and
inconvenience as possible and make good all damage caused to the Property 

  

	2.	The free and uninterrupted passage and running of water soil gas oil electricity telephone optical or other cables and compressed air and other services from and to all other parts
of the Building or the Estate and from and to all other buildings premises and land whether belonging to the Landlord or the Superior Landlord or not through and along all pipes which are now or may hereafter during the term hereby granted be in on
over or under the Property 

  

	3.	To connect to and use all such pipes aforesaid for the benefit of other parts of the Building or the Estate and any adjoining or neighboring land capable of benefiting there from
whether or not belonging to the Landlord or the Superior Landlord 

  

	4.	To enter upon the Property or any other part of the Estate and to construct in over or under them or either of them and thereafter to inspect cleanse repair replace or renew drains
sewers water gas oil electric and other pipes service pipes cables and conduits from any other part of the Estate and to connect to and use the said drains sewers water gas oil electric pipes and other service pipes cables and conduits making good
to the reasonable satisfaction of the Tenant any damage to the 

  

 32 

	  	Property with all reasonable dispatch at the cost and expense of the person who shall have caused such works to be carried out minimizing so far as reasonably possible any
disruption to the use and enjoyment of the Property and so far as available within the Estate providing to the Tenant free of charge such alternative parking as may be appropriate having regard to the extent of any disruption

  

	5.	All other easements or other rights in the nature of easements or quasi-easements now enjoyed or capable of being enjoyed by other parts of the Estate or by any adjoining or
neighboring property 

  

	6.1	The right at any time during the Term where necessary and at reasonable times and upon 48 hours prior written notice except in cases of emergency to enter (or in cases of emergency
to break into and enter) the Property: 

  

	6.1:l	to inspect cleanse connect to repair remove replace with others alter or execute any works whatever to or in connection with the Pipes easements or services referred to in this
schedule 

  

	6.1:2	to view the state and condition of and repair and maintain the Building and the Other Buildings where such viewing or work would not otherwise be reasonably practicable

  

	6.1:3	to carry out work or do anything whatever comprised within the Landlord’s obligations in this lease 

  

	6.1:4	to take schedules or inventories of fixtures and other items to be yielded up on the expiry of the Term and 

  

	6.1:5	to exercise any of the rights granted to the Landlord by this lease 

 PROVIDED THAT the Landlord will cause as little inconvenience disruption and damage to the Tenant’s business and the Property as reasonably practicable and will repair any such damage forthwith to the reasonable
satisfaction of the Tenant 
  

	6.2	Save for rights of way the rights of light air support protection shelter and all, other easements and rights (save for rights of way) now or after the date of this Lease belonging
to or enjoyed by any other parts of the Estate PROVIDED THAT such exceptions and reservations of rights will not adversely affect the Tenant’s beneficial use and occupation of the Property 

  

	7.	The rights of light air support protection shelter and all other easements and rights now or after the date of this lease belonging to or enjoyed by any other parts of the Building
or the Estate PROVIDED THAT such exceptions and reservations of rights will not adversely affect the Tenant’s beneficial use and occupation of the Property 

  

 33 

	8.1	Full right and liberty at any time after the date of this Lease: 

  

	8.1:1	to alter raise the height of or rebuild the Building including the connection or keying into brickwork of any building or the Other Buildings or 

  

	8.1:2	to erect other buildings of any height in such manner as the Landlord shall think fit notwithstanding the fact that the same may obstruct affect or interfere with the amenity of or
access to the Premises or the passage of light and air to the Premises 

  

	8.13	to construct erect maintain or replace any erections or structures surrounding the car parking areas any lighting of the Building any signs or signage at the Building provided

  

	8.1:4	to alter the route of any rights of way or of services or others notwithstanding that there may be loss of amenity caused thereby so as to facilitate or service any of the works
referred to in this clause 

  

	  	PROVIDED THAT no such exceptions and reservations shall adversely affect the Tenant’s beneficial use and occupation of the Property or infringe the Tenant’s
rights hereunder 

  

	9.	A right of way with or without vehicles (save for vehicles used in connection with any construction or development work) at all times and for all purposes over and along that part
of the Building shown hatched in blue on Plan B 

 PART TWO 
 Matters to which the demise is subject 
 All entries and other matters contained in or referred to in
the Registered title Numbers SY567844 in respect of the Superior Landlord’s title to the Estate in so far as the same are still subsisting and relate to and affect the Property 
  

 34 

 THE FOURTH SCHEDULE 
 ServiceExpenses 
 PART ONE 
  

	1.	In this Schedule the following expressions shall have the following meanings:- 

  

	 	(a)	“the Tenant’s proportion” shall mean 21. decimal point 97 per cent (21.97%) 

  

	 	(b)	“the service expenses” shall mean the proportion attributable to the Building pursuant to the terms of the Superior Lease (or which would have been attributable to the
Building pursuant to the terms of the Superior Lease had the Superior Lease still been subsisting) of such of the costs expenses fees outgoings and other money specified in Part 2 of this Schedule as are incurred or paid by the Superior Landlord or
(if the Superior Lease shall cease to subsist) by the Landlord in respect of the Estate and shall at the discretion of the Superior Landlord or (as the case may be) the Landlord include a sum or sums of money by way of reasonable provision for
anticipated expenditure in respect of the service expenses which the Superior Landlord or (as the case ay be) the Landlord may in its reasonable discretion allocate to a service year and consider fair and reasonable in the circumstances

  

	 	(c)	“the service year” shall mean the period of Twelve (12) calendar months ending on the 31st day of December in each year or on such other date as the Landlord may from
time to time notify in writing to the Tenant 

  

	2.	The Tenant will pay to the Landlord at the times and in the manner set out below the Tenant’s proportion of the service expenses:- 

  

	 	(a)	The Landlord will as soon as practicable after the commencement of the Term and thereafter on or about the end of each service year make and notify in writing to the Tenant a
reasonable estimate of the service expenses to be incurred or paid during the next service year 

  

	 	(b)	The Tenant shall pay the Tenant’s proportion of the estimated service expenses under sub-paragraph (a) by equal installments in advance on the usual quarter days in each
year or proportionately for any period less than a quarter the first payment whereof shall be made in respect of the period from the date hereof to the quarter day next following the date hereof PROVIDED that (i) such first payment shall be
payable within seven days 

  

 35 

 of the notification to the Tenant of the amount thereof together with the installments in respect of any
quarterly period which shall have commenced before such notification and (ii) if the estimate of the service expenses in respect of any service year shall not have been notified to the Tenant as aforesaid before the quarter day immediately
preceding the commencement of such service year the Tenant shall continue to pay such quarterly installments at the rate last payable by it until such notification and (iii) if such notification shall have been given before the quarter day
immediately preceding the commencement of any service year in respect of such service year the installment payable on the said quarter day shall be at the new rate so notified to the Tenant 
  

	 	(c)	Unless prevented by causes beyond the Landlord’s reasonable control as soon as possible following the end of each service year the Landlord will prepare and deliver to the
Tenant a statement (audited (if requested by written notice by the Tenant to the Landlord so to do) by an independent chartered or certified accountant in private practice) of the service expenses for that service year and the sum payable by the
Tenant and the Tenant will within fourteen days of the delivery of such statement pay to the Landlord any balance shown by such statement to be due from the Tenant as being in excess of the aggregate amount of the quarterly installments paid by the
Tenant in respect of that service year (payments made in respect of the quarter commencing on the quarter day immediately preceding any service year being apportioned on a daily basis in respect of the periods respectively terminating on and
commencing immediately after the end of each service year) and in the event of the aggregate amount so paid by the Tenant exceeding the Tenant’s proportion of the service expenses for that service year the Landlord shall credit the amount of
the excess by way of setoff against the next installment or installments due from the Tenant on account of the Tenant’s proportion of the service expenses PROVIDED that the provisions of this sub-paragraph shall continue to apply
notwithstanding the Determination of the Term but only in respect of the period down to such Determination the Tenant’s proportion of the service expenses for the service year during which such determination occurs being apportioned for the
said period on a daily basis 

  

	 	(d)	Such statement as to the amount of the estimated or actual service expenses shall in the absence of manifest error be final and binding upon the parties hereto

  

	3.	The Tenant shall not be entitled to object to any item comprised in the service expenses by reason that such item may or does benefit one or more other tenants on the Estate more
than it benefits the Tenant PROVIDED THAT such item relates to services provided in the interests of good estate management for the Estate as a whole 

  

 36 

 PART TWO 
 The service expenses comprise all reasonable and properly incurred costs charges commissions premiums fees interest and expenses reasonably incurred paid or provided for by the Superior Landlord or the Landlord:- 
  

	1.	In respect of insurance (before deduction of any commission or allowance) pursuant to Clause 6(2) of this deed 

  

	2.	In connection with or relating to inspecting cleaning draining emptying operating lighting decorating repairing maintaining and when requisite modifying or renewing and rebuilding
all walls flues gutters drains pipes sewers channels conduits ducts wires cables watercourses fences walls roadways pavements forecourts parking areas floors balconies entrances ways passages areas and any other services easements things or
conveniences (not limited in kind to those enumerated above) which shall at any time during the Term serve the Estate or any part thereof and be capable of being used or enjoyed by the Building or the lessees or occupiers thereof or any part thereof
in common with any other person 

  

	3.	In the maintenance repair decoration cleansing and renewal of all pavements forecourts sewers drains sewage pumps and associated machinery watercourses pipes wires conduits fences
hydrants and other conveniences the use or benefit of which is common to or is shared by the Building and other adjoining or neighboring premises 

  

	4.	In the tending and keeping tidy and planting with such flora as the Landlord shall reasonably deem to be appropriate the common parts of the Estate and such other parts not intended
for letting 

  

	5.	In providing operating maintaining testing repairing and when requisite modifying or renewing a fire alarm system (including where possible a direct link with the fire brigade) and
in addition fire fighting equipment in those parts of the Estate not intended to be demised to a tenant 

  

	6.	In providing maintaining repairing renewing and replacing furnishings decorations appointments fittings bins receptacles tools appliances apparatus and other equipment and materials
which the Landlord may consider desirable or necessary for the Estate in the interests of good estate management 

  

 37 

	7.	In discharging all payments of the kinds mentioned in Clauses 5(2) and 5(3) of this deed relating to any part of the Estate or its appurtenances not intended to be demised to a
tenant 

  

	8.	In discharging the amount which the Landlord or Superior Landlord shall be called upon to pay as a contribution towards the expense of repairing maintaining rebuilding and cleansing
all ways roads pavements sewers drains pipes watercourses party walls party structures party fences or other conveniences (not limited in kind to those enumerated above) which may belong to or be used for the Estate in common with other premises
near to or adjoining it 

  

	9.	In discharging the cost of the supply and running of electricity telephone facilities and water for all purposes in connection with the common parts of the Estate and other parts
not intended for letting PROVIDED THAT such services are provided in the interests of good estate management 

  

	10.	In employing or obtaining the services of such persons as the Landlord reasonably considers necessary or desirable for caretaking porterage security management and providing and
maintaining the services on the Estate and all other expenditure incidental thereto including (but without limiting the generality of such provision) the payment of statutory and such other health pension welfare and other payments contributions and
premiums as the Landlord may in its absolute discretion deem desirable or necessary and the provision of uniforms working or protective clothing burglar alarms surveillance telecommunications or monitoring apparatus entrance and exit barriers and
other materials or equipment for the efficient performance of their duties 

  

	11.	In providing reasonable staff accommodation (on such terms as the Landlord may reasonably determine) for any person referred to in paragraph 10 above PROVIDED that in respect of any
such accommodation which is not situated on the Estate the Landlord or Superior Landlord shall only be entitled to include in the service expenses reasonable costs charges and expenses of a revenue nature (and not of a capital nature) incurred in
the provision of such accommodation 

  

	12.	In providing maintaining and renewing and replacing notice boards notices signs and directions at the entrances to and exits from the Estate and in such other places as the Landlord
may consider expedient 

  

	13.	In the collection of the rents and other payments due from tenants on the Estate and the administration and management of the Estate and the performance of the

  

 38 

 Landlord’s Superior Landlord’s obligations in this deed or payable to any solicitors
accountants surveyors valuers or architects or other professional advisers whom the Landlord or Superior Landlord may from time to time employ or commission in connection with such matters including the reasonable cost of preparing or causing to be
prepared statements or certificates of and auditing the service expenses (or where no such persons are employed a reasonable charge by the Landlord or Superior Landlord for performing such functions in respect of the Estate shall be substituted)

  

	14.	In complying with the provisions of any enactment insofar as such provisions apply to the Estate and save where the Tenant or any other tenant of the Landlord is responsible
therefore whether or not pursuant to the terms of this deed 

  

	15.	Of or incidental to taking all steps deemed desirable or expedient by the Landlord in complying with making representations against or otherwise contesting or dealing with every
notice regulation or order of any competent local or other authority in relation to the Estate or its appurtenances (except insofar as the Tenant or any other tenant of the Landlord is responsible therefore whether or not pursuant to the terms of
this deed) and to the extent only that such steps are taken in the interests of good estate management and not for the purpose of protecting or enhancing the value of the Landlord’s reversionary interest in the Estate 

 

	16.	In the carrying out of all other work or doing of any other act or thing or providing services (in all cases) of any kind whatsoever which the Landlord may from time to time
reasonably consider necessary or desirable for the purpose of maintaining the Estate or its amenities or for the benefit of the Estate or the tenants or occupiers for the time being of it 

 FIFTH SCHEDULE 
 Service Charge

 PART A 
 Definitions

  

	1.	‘Services’ means the services facilities and amenities specified in Part C and D of this schedule 

  

	2.	‘Computing Date’ means 31’ December in every year of the Term or such other date as the Landlord may from time to time nominate and ‘Computing Dates’
shall be construed accordingly provided that there shall be no more than one change of computing date in one calendar year 

  

	3.	‘Financial Year’ means the period: 

  

	3.1	from the commencement of the Term to and including the first Computing Date and subsequently 

  

 39 

	3.2	between 2 consecutive Computing Dates (excluding the first Computing Date from but including the second Computing Date in the period) and ‘Financial Years’ shall be
construed accordingly 

  

	4.	‘Gross Annual Expenditure’ means in relation to any Financial Year the aggregate of 

  

	4.1	all costs expenses and outgoings whatever incurred by the Landlord during that Financial Year in or incidentally to providing all or any of the Services and any VAT payable

  

	4.2	all costs incurred by the Landlord during that Financial Year in relation to the matters specified in Part D of this schedule (‘Additional Items’) and any VAT payable and

  

	4.3	such sums (if any) as the Landlord shall in its absolute discretion consider appropriate to charge in that Financial Year by way of provision for anticipated expenditure in any
future Financial Years in respect of any of the Services or the Additional Items but ‘Gross Annual Expenditure’ shall not include any expenditure in respect of the maintenance or repair of any part of the Building or of any thing in the
Building whose maintenance or repair is the exclusive responsibility of the Tenant or any other tenant in the Building 

  

	5.	‘Annual Expenditure’ means in relation to any Financial Year the Gross Annual Expenditure for that Financial Year less the aggregate of: 

  

	5.1	(if in the Financial Year in question or in any previous Financial Year the Landlord has incurred any costs or expenses in or incidentally to making good any loss or damage covered
by any policy of insurance maintained by the Superior Landlord or the Landlord pursuant to its obligations in this lease) all (if any) amounts recovered by the Landlord in the Financial Year in question pursuant to such policy of insurance and

  

	5.2	(if in the Financial Year in question or in any previous Financial Year the Landlord has incurred any costs or expenses in or incidentally to providing any of the Services or in
relation to any of the Additional Items which are recoverable (in whole or in part) from any person other than the Tenant or any other tenant in the Building) all (if any) amounts recovered by the Landlord in the Financial Year in question from any
such person 

  

 40 

	6.	The ‘Service Charge’ means subject to the provisions of Clause 15 of this Schedule the Service Charge Percentage of the Annual Expenditure 

  

	7.	‘Staff Accommodation’ means all parts of the Building which from time to time are exclusively occupied or used by or are designated by the Landlord for the exclusive
occupation or use of porters caretakers or any ancillary staff or any other persons engaged in the performance of the Services 

  

	8.	‘Lettable Areas’ means all parts of the Building (not comprising Staff Accommodation or Common Parts) which from time to time is either occupied by a tenant or tenants for
residential office or commercial purposes or are so constructed or adapted as to be capable of being so occupied 

  

	9.	‘Retained Parts’ means all parts of the Building (including the Staff Accommodation and the Common Parts) other than the Property and the other Lettable Areas

  

	10.	‘Structure’ means: 

  

	10.1	the entirety of the roofs and foundations of the Building 

  

	10.2	the entirety of all floors and ceilings of the Building excluding the underside of the suspending ceiling down to the top surface of the concrete floor slab beneath the raised floor
but including any parts of the structural frame of the Building but excluding any cladding covering or decorative finishes of such parts 

  

	10.3	the entirety of all external walls of the Building (but excluding the paint paper and other decorative finishes applied to the internal faces of such walls)

  

	10.4	the entirety of all “load-bearing walls pillars and other structures of the Building (but excluding the paint paper and other decorative finishes applied to the faces of such
walls pillars and other structures) and 

  

	10.5	the external windows and window frames of the Building 

  

	10.6	all other parts of the structure of the Building not referred to in the preceding paragraphs 10.1 to 10.5 

  

	11.	‘Plant’ means all apparatus plant machinery and equipment within the Building from time to time including without prejudice to the generality of the above any goods lift,
lift-shaft and boilers and items relating to mechanical ventilation heating cooling and all security systems and electrical systems and all other mechanical 

  

 41 

 and engineering systems at the Building but excluding standby generators window cleaning cradle and
equipment building management systems and public address systems 
 PART B 
 Performance of the Services and payment of the Service Charge 
 13 Performance of the Services

 Subject to the Tenant paying the service charge the Landlord shall use all best endeavors to perform the Services throughout the Term provided that the
Landlord shall not be liable to the Tenant in respect of: 
  

	13.1	any failure or interruption in any of the Services by reason of necessary repair replacement maintenance of any installations or apparatus or their damage or destruction or by
reason of mechanical or other defect or breakdown or frost or other inclement weather conditions or shortage of fuel materials water or labor or any other cause beyond the Landlord’s reasonable control 

 14 Payment of the Service Charge 
  

	14.1	Landlord shall as soon as possible after each Computing Date prepare an account showing the Gross Annual Expenditure and the Annual Expenditure for the Financial Year ending on that
Computing Date and containing an itemized summary of the income and expenditure referred to in it and upon such account being certified by the accountant appointed by the Landlord it shall be conclusive evidence for the purposes of this lease of all
matters of fact referred to in the account save in the case of manifest error on the face of the account 

  

	14.2	The Tenant shall pay for the period from the date hereof to the Computing Date next following the date of this Lease the Initial Provisional Service Charge the first payment being a
proportionate sum in respect of the period from and including the date hereof to and including the day before the next quarter day to be paid on the date of this Lease the subsequent payments to be made in advance on the relevant quarters days in
respect of the relevant quarters 

  

 42 

	14.3	The Tenant shall pay for the next and each subsequent Financial Year a provisional sum equal to a proper estimate by the Landlord’s Surveyor acting as an expert and not as an
arbitrator of what the Annual Expenditure is likely to be for that Financial Year by 4 equal quarterly payments on the usual quarter days 

  

	14.4	If the Service Charge for any Financial Year shall: 

  

	14.4:l	exceed the provisional sum for that Financial Year the excess shall be paid to the Landlord within fourteen days of demand or 

  

	14.4:2	be less than such provisional sum the overpayment shall be credited to the Tenant on demand against the next quarterly payment of the rent and other sums hereinbefore reserved and
the Service Charge 

 15 Variations 
  

	15.1	Upon notifying the Tenant of such the Landlord may withhold add to extend vary or make any alteration in the rendering of the Services or any of them from time to time if the
Landlord in its reasonable discretion deems it desirable and reasonable to do so in the interests of good estate management 

  

	15.2	If at any time during the Term the total premises enjoying or capable of enjoying the benefit of any of the Services or the Additional Items is increased or decreased on a permanent
basis or the benefit of any of the Services or the Additional Items is extended on a like basis to any adjoining or neighboring premises or if some other event occurs a result of which is that the Service Charge Percentage is no longer appropriate
to the Property the Service Charge Percentage shall be varied with effect from the Computing Date following such event in fair and reasonable a manner to be determined by the Landlord’s Surveyor acting reasonably (acting as an expert and not as
an arbitrator) except that nothing contained in this Lease shall imply an obligation on the part of the Landlord to provide the Services or the Additional Items to any adjoining or neighboring premises 

  

 43 

 PART C 
 The Services 
 16 Maintaining Structure and Retained Parts 
  

	16.1	Maintaining repairing inspecting and amending the Structure 

  

	16.2	Maintaining and repairing the outer half severed medially of all internal non-load-bearing walls dividing the Property from other parts of the Building 

  

	16.3	Maintaining repairing and where appropriate treating washing down cleaning the exterior painting and decorating to such standard as the Landlord may from time to time reasonably
consider adequate the Retained Parts including the entirety of all walls floors and ceilings surrounding and all doors and windows and door and window frames in the Retained Parts (but excluding any such items or parts of them the maintenance of
which is the exclusive responsibility of the Tenant or any other tenant in the Estate) 

  

	16.4	Without prejudice to the generality of the foregoing in 1999 and thereafter every third year of the Term and in any event in the period of twelve months immediately preceding the
Determination of the Tern the preparation and painting of the outside of the Building in accordance with the covenants on the Landlord’s part contained in the Superior Lease 

 17 Lights 
 The provision of and maintenance repair and replacement of
lighting at the Building (including any centralized lighting control and circuits) 
 18 Maintaining etc Pipes 
 Maintaining repairing cleansing emptying draining amending and renewing all Pipes and any external water taps as often as is reasonably necessary in on under or over the
Building 
 19 Maintaining etc fire alarms etc 
 Maintaining and renewing as often as is reasonably necessary any fire alarms sprinkler system fire prevention and fire fighting equipment and ancillary apparatus in the Retained Parts 
  

 44 

 20 Cleaning etc the Retained Parts 
 Cleaning treating polishing heating and lighting the Retained Parts to such standard as the Landlord acting reasonably may from time to time consider adequate 
 21 Plant etc 
 Supplying providing purchasing maintaining renewing
replacing repairing servicing overhauling and keeping in good and serviceable order and condition all Plant together with all appurtenances futures fittings bins receptacles tools appliances materials equipment and other things which the Landlord
may deem reasonably desirable or reasonably necessary for the maintenance appearance upkeep or cleanliness of the Building or any part of it 
 22
Fixtures fittings etc 
 Supplying providing purchasing maintaining renewing replacing repairing servicing overhauling and keeping in good and serviceable
order and condition all appurtenances fixtures fittings bins receptacles tools appliances materials equipment and other things which the Landlord may deem reasonably desirable or reasonably necessary for the maintenance appearance upkeep or
cleanliness of the Building or any part of it 
 23 Windows 
 Cleaning as frequently as the Landlord shall in its reasonable discretion consider adequate the exterior of all windows and window frames in the Building and replacing any broken windows and frames including those that form part of the
Property 
 24 Refuse 
 Collecting and disposing of refuse
from the Estate and the provision repair maintenance and renewal of plant and equipment for the collection treatment packaging or disposal of refuse 
 25
Reception Facilities 
 Reception facilities on the ground floor of the Building are subject to clause 27 hereof

 26 Other services 
 Any other services in the interest
of good estate management relating to the Building or any part of it provided by the Landlord from time to time during the Term and not expressly mentioned 
  

 45 

 27 Exclusion from Services 
  

	(a)	PROVIDED FURTHER that notwithstanding the generality of the foregoing the Tenant shall not be required to make any payments towards internal cleaning of the demised premises or the
retained parts or common parts excluding external and internal windows (“the Cleaning Works”) where (and provided that) the Tenant carries out the Cleaning Works on a shared basis with other occupiers of the Building subject to such
cleaning Works being carried out to the reasonable satisfaction of the Landlord. 

  

	(b)	The Tenant shall not be charged for the security system at the Property provided that the Tenant operates to the reasonable satisfaction of the Landlord its own security system and
does not thereby at any time render the Building insecure and in default of the same the Landlords own security system will be utilized for the Building and will form part of the Services charged to the Tenant 

  

	(c)	The Tenant shall not be liable through the Service Charge for the cost of repair to the Building attributable to the Inherent Defect 

  

	(d)	The Tenant shall not be liable to the Landlord for the cost of reception facilities where such reception is and continues to be operated by or in conjunction with the Tenant in
accordance with the Use Covenants to the Landlords reasonable satisfaction 

 PART D 
 The Additional Items 
 28 Fees 
  

			
	28.1	  	The fair and reasonable and properly incurred fees and disbursements (and any VAT payable on them) of:
		
	28.1:l	  	the Landlord’s Surveyor or an Accountant or any other individual firm or company employed or retained by the Landlord for (or in connection with) such surveying or accounting functions
in relation to the Building
		
	28.1:2	  	any Managing Agents (whether or not the Landlord’s Surveyor) but so that any such fee shall not form more than 10% of the Service Charge employed for or in connection
with:
		
	28.1:2.1	  	the maintenance and management of the Building

  

 46 

			
	28.1:2.2	  	the collection of the rents and all other similar sums due to the Landlord from the tenants of the Building
		
	28.1:2.3	  	the performance of the Services and any other duties in and about the Building or any part of it relating to (without prejudice to the generality of the above) the general management
administration security maintenance protection and cleanliness of the Building
		
	28.1:3	  	any individual firm or company reviewing and where advised in accordance with normal insurance practice valuing the Building for the purposes of assessing the full cost of rebuilding and
reinstatement
		
	28.1:4	  	any individual firm or company providing caretaking or security arrangements and services to the Building
		
	28.1:5	  	any other individual or individuals fm or company employed or retained by the Landlord to perform (or in connection with) any of the Services or any of the functions or duties referred to in
this paragraph
		
	28.1:6	  	the monitoring management control and enforcement of any covenants contained in leases supplemental deeds thereto or other deeds from occupiers of the Building
		
	28.2	  	The fair and reasonable and properly incurred fee or fees and disbursements of the Landlord reasonably incurred or a Group Company of the Landlord for any of the Services or the other functions
and duties referred to in paragraph 28.1 above that shall be undertaken by the Landlord or a Group Company of the Landlord and not by a third Party

 29 Staff etc 
 The reasonable and properly incurred cost of employing (whether by the Landlord a Group Company the managing agents or any other individual firm or company) such s W as the Landlord may in its reasonable discretion deem necessary for the
performance of the Services and the other functions and duties referred to in paragraph 28.1 above and all other reasonably incidental expenditure in relation to such employment 
 30 Contracts for services 
 The reasonable and properly incurred cost of entering into any contracts for the carrying
out of all or any of the Services and other functions and duties that the Landlord may in its absolute discretion deem desirable or necessary 
  

 47 

 31 Security 
 The cost
of providing and maintaining such security measures (including burglar alarms and systems) as the Landlord shall reasonably deem necessary 
 32 Fire
Service 
 The reasonable and properly incurred cost of any fire service charge for alarms and inspections and other cost required to comply with any
relevant fire regulations 
 33 Outgoings 
 All rates
taxes assessments duties charges impositions and outgoings (save those arising out of any dealings with the Landlord’s reversion) which are now or during the Term shall be charged assessed or imposed on: 
  

	33.1	the whole of the Building where there is no separate charge assessment or imposition on or in respect of an individual unit 

  

	33.2	the whole of the Retained Parts or any part of them including but without prejudice to the generality of the above residential accommodation for caretakers and other staff employed
in connection with the Building 

 34 Electricity, gas etc 
 The cost of the supply of air conditioning hot and cold water to toilets electricity gas oil or other fuel for the provision of the Services and for all purposes in connection with the Retained Parts 
 35 Road etc charges 
 The amount which the Landlord shall be called
upon to pay as a contribution towards the expense of making repairing maintaining rebuilding and cleansing any ways roads pavements or structures Pipes or anything which may belong to or be used for the Building or any part of it exclusively or in
common with Other Buildings 
 36 Regulations 
 The
reasonable and properly incurred costs charges and expenses of preparing and supplying to the tenants copies of any tenants directory and regulations made by the Landlord relating to the Building or the use of it 
  

 48 

 37 Statutory etc requirements 
 The reasonable and properly incurred cost of taking all steps deemed desirable or expedient by the Landlord for complying with making representations against or otherwise contesting the incidence of the provisions of any statute byelaw or
notice concerning town planning public health highways streets drainage or other matters relating to or alleged to relate to the Building or any part of it for which any tenant is not directly and exclusively liable 
 38 Nuisance 
 The reasonable cost to the Landlord of abating a
nuisance in respect of the Estate or any part of it in so far as the same is not the liability of any individual tenant 
 39 Interest 
 Any interest (at a reasonably commercial rate (not to exceed the Basic Rate)) and fees properly incurred) in respect of money borrowed to finance the provision of the
Services or the Additional Items 
 SIXTH SCHEDULE 
 The Use Covenants 
 1 User 
  

	1.1.1	Not to use the Property for any purpose other than as offices within the meaning of paragraph (a) of Class B1 of the Schedule to Town and Country Planning (Use Classes) Order
1987 

  

	1.1.2	The Tenant shall use the Reception Area for reception facilities only and will operate the same in conjunction with any other occupier of the Building provided such use and
operation is undertaken and subsists if and so long as the consent thereto from the other occupiers of the Building shall continue to be obtained and in the event of dispute as to the use of such area the decision Landlord acting reasonably shall
settle such dispute and the decision of the Landlord shall be final and binding 

  

	1.2	Not to discharge into any of the Pipes serving the Property any oil grease or other deleterious matter or any substance which might be or become a source of danger or injury to the
drainage system 

  

 49 

	1.3	Not to stand place deposit or expose outside any part of the Building any goods materials articles or things whatever for display or sale or for any other purpose nor cause any
obstruction of the Common Parts 

  

	1.4	Not to play or use any musical instrument loudspeaker tape recorder gramophone radio or other equipment or apparatus that produces sound in the Property so as to be heard in nearby
premises or outside the Property 

  

	1.5	Not to display any flashing lights in the Property that can be seen from outside the Property 

 2 Ceiling and floor loading 
  

	2.1	Not to bring or permit to remain on the Property any safes machinery goods or other heavy goods which may damage the Property or any part of them 

  

	2.2	Not without the consent of the Landlord to suspend a n m g from the walls or ceilings of the Property other than normal light fittings or suspended ceilings

 3 Common Parts 
  

	3.1	Not to cause the Common Parts or any other land roads or pavements adjoining the Building to become untidy or in a dirty condition but at all times to keep the Common Parts and
other land roads or pavements free from deposits of materials and refuse 

 4 Machinery 
  

	4.1	Not to install or use in or upon the Property any machinery (other than usual office machinery) or apparatus which will cause noise or vibration which can be heard or felt in nearby
premises or outside the Property or which may cause structural damage 

  

	4.2	To keep all machinery and equipment upon the Property properly maintained and in good working order and for that purpose to employ reputable contractors for the regular periodic
inspection and maintenance of such machinery and equipment to renew all working and other parts as and when necessary or when recommended by such contractors to ensure by directions to the Tenant’s staff and otherwise that such plant apparatus
machinery and equipment is properly operated and to avoid damage to the Property by vibration or otherwise 

  

 50 

 5 Regulations 
 To
comply with all reasonable regulations made by the Landlord from time to time for the good management of the Building and Estate provided that nothing in the regulations shall purport to amend the terms of this Lease and in the event of any
inconsistency between the terms of this Lease and the regulations the terms of this Lease shall prevail 
 6 Signs and Advertisements 
 Not without the Landlord’s prior written consent to place or display on the Property or on the windows or inside the Property so as to be visible from outside the
property any name writing notice sign placard poster sticker or advertisement provided that a sign indicating the Tenants name and trade or business may be erected subject to first obtaining the Landlords approval in relation to the size and style
thereof (such approval not to be unreasonably withheld or delayed) 
 7 Loading and unloading 
  

	7.1	Not to permit any vehicles belonging to the Tenant or any persons calling on the Building expressly or by implication with the authority of the Tenant to stand on the pathways or
roads within the Building or the pavements of them and to ensure that persons calling on the Building do not permit any vehicle to stand on any such road pavement or loading bay 

  

	7.2	Not to convey any goods or materials to or from the Building except through the entrances and service areas (if any) provided for the purpose 

 8 Security and fire alarms 
  

	8.1	To permit the duly authorized employees and agents of the Landlord to enter the Property upon reasonable notice for the purpose of servicing and maintaining any intruder and fire
alarm systems in the Property 

  

	8.2	To maintain repair and when necessary renew the intruder and fire alarm and ancillary equipment installed in the Property 

 SEVENTH SCHEDULE 
 (“Authorized
Guarantee Agreement”) 
 1. In this Schedule where the context admits the following expressions shall have the following meanings: 
 “Assignment” means the assignment authorized pursuant to Clause 4(14) hereof; 
  

 51 

 “Assignee” means the assignee under the Assignment; 
  

	2.	The Tenant hereby covenants with the Landlord as sole or principal debtor that it will as from the date of the Assignment until the Assignee is released from the tenant covenants
contained in the Lease pursuant to the Landlord and tenant (Covenants) Act 1995 if the Assignee shall make any default in payment of the rents or in observing or performing any of the covenants conditions or other terms of this underlease:-

  

	2.1	duly pay all rents and all other sums payable under this Lease at the times and in the manner described by this Lease (including any increases in the rents) and duly perform and
observe all the covenants and obligations on the part of the Tenant and conditions contained in this Lease; 

  

	2.2	in the event that the Lease shall be disclaimed then if the Landlord so requires by notice in writing given to the tenant at any time within three months after having been given
notice of disclaimer then the Tenant will forthwith accept, execute and deliver to the Landlord a counterpart of a new lease of the premises demised by the Lease for a term commencing on the date of such event and continuing for the residue of the
term then remaining unexpired under the Lease at the same rents or increased rents (including rent reviews) and subject to the same covenants, conditions and provisions as are contained in the Lease. 

  

	3.	None of the following shall release or in any way lessen or affect the liability of the Tenant hereunder:- 

  

	 	3.1	any neglect delay or forbearance of the Landlord in endeavoring to obtain payment of the rents or the amount required to be paid by the assignee when the same become payable or in
enforcing the performance or observance of any of the obligations of the Assignee; 

  

	 	3.2	any refusal by the Landlord to accept rent at a time when the Landlord believed that it was entitled (or would after the service of a notice under Section 146 Law of Property
Act 1925 have been entitled) to re-enter the premises demised by the Lease; 

  

	 	3.3	any extension of time or other indulgence given by the Landlord to the Assignee; 

  

	 	3.4	any consents approvals agreements or arrangements which may be given by the Landlord or the Assignee or agreed between them or any variation of the terms of the Lease (including any
reviews of the rent payable under the Lease) transfer of the Landlord’s reversion or any part thereof; 

  

 52 

	 	3.5	any change in the constitution structure or powers of the Assignee the tenant or the Landlord or the liquidation receivership administration bankruptcy or insolvency (as the case
may be) of the Tenant or the Assignee; 

  

	 	3.6	any limitation immunity disability or incapability of the Assignment (whether or not known to the Landlord) or the fact that any dealings with the Landlord by the Assignee may be
outside or in excess of the powers of the Assignee; 

  

	 	3.7	the avoidance under any enactment relating to bankruptcy or liquidation of any assurance security or payment or any release settlement or discharge which may have been given or made
upon any such assurance security or payment; 

  

	 	3.8	any other act omission matter or thing whatsoever whereby but for this provision the Tenant would be exonerated either wholly or in part from its obligations hereunder (other than
are lease by deed given by the Landlord or the provisions of the Landlord and Tenant (Covenants) Act 1995. 

 EIGHTH SCHEDULE

 A notional rent amounting to £2701.08 per annum payable quarterly in advance (representing 25.1 1 percent of the whole rental value of the
Reception Area calculated at £7.75 per square foot for 1388 square feet) such notional rent to be increased as and from each Review Date by the percentage by which the Rent First Reserved may be increased at any Review Date (such percentage
increase hereinafter being referred to as the “Increase”) and if such Increase shall not I have been ascertained by any Review Date then the notional rent at rate prior to the relevant Review Date shall be paid until the quarter date next
following the date the Increase shall have been ascertained pursuant to clause 8 of this Lease and from the quarter date aforesaid at the rate 
  

 53 

			
	THE COMMON SEAL of DIGITAL	  	)
	EQUIPMENT CO.	  	)
	LIMITED was hereunto affixed in the	  	)
	presence of:-	  	)
		
	                                       
             Director	  	
	        /s/	  	
	                                       
             Secretary	  	
		
	THE COMMON SEAL of LEARNING	  	)
	 TREE INTERNATIONAL LIMITED was
 hereunto affixed in the presence of:-
	  	 )
 )

		
	                                       
             Director	  	
		
	                                       
             Secretary

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