The following Property guidance note provides comprehensive and up to date legal information covering:
Assignment of whole conditions precedent—offer back
The Tenant must not assign the whole of the Property:
unless it has either:
given written notice to the Landlord pursuant to the provisions of paragraph 1 of the Schedule (Tenant’s notice of proposed assignment) and the Landlord has not served a written counter-notice on the Tenant pursuant to the provisions of paragraph 1.2 of the Schedule (Landlord’s counter-notice); or
made a written offer to the Landlord pursuant to the provisions of paragraph 2 of the Schedule (Tenant’s offer to surrender) and the Landlord has not accepted the offer under the provisions of paragraph 2.2 of the Schedule (Failure to accept surrender); or
outside whichever of the periods of [insert period, eg 180 days] specified in paragraphs 1.2 (Landlord’s counter-notice) and 2.2 (Failure to accept surrender) of the Schedule is relevant to the particular transaction; or
[to a person connected with the Tenant within the meaning of the Corporation Tax Act 2010, s 1122, provided that a person is to be treated as connected with the Tenant in relation to any assignment or proposed assignment if that person is not dealing with the Tenant at arms' length; or]
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