The Historic Buildings and Monuments Commission for England ('the Commission')1, in relation to any land2 in England, or the Welsh Ministers3, in relation to any land in Wales, may undertake, or assist in, or defray or contribute towards the cost of, an archaeological investigation4 of any land which it or they consider may contain an ancient monument5 or anything else of archaeological or historical interest6. Any local authority7 may undertake, or assist in, or defray or contribute towards the cost of an archaeological investigation of any land in or in the vicinity of its area, being land which it
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There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
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This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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