Guarantees and AGAs

Guarantees and AGAs guidance:

What is an authorised guarantee agreement (AGA)? Under an AGA an outgoing tenant guarantees some or all of the obligations of an incoming tenant under a lease. It was...

Practice Note

Background—Landlord and Tenant (Covenants) Act 1995 Landlord and Tenant (Covenants) Act 1995, s 5(2)(a) provides that if: 'a tenant assigns the whole of the premises...

Practice Note

The advantages of taking collateral security from a third party to secure the principal debt are that: • the mortgagee may not need to have recourse to the primary...

Practice Note

This Practice Note details the deadlines for carrying out some of the more common tasks for property disputes lawyers, together with links to further information. It is...

Practice Note

The Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) controls the liability of former tenants and their guarantors for rent and service charge after assignment of a...

Practice Note

In Powerhouse, parent company guarantees were given in respect of a number of high street stores and supermarkets in the UK. The tenant company subsequently decided to...

Practice Note

Rectification is an equitable remedy by which the court can correct an error of expression where a written document does not match the parties' intention. It is available...

Practice Note

What is a rent guarantee? A rent guarantee is an incentive offered by the seller of an investment property which has empty premises (eg an empty floor in an office block...

Practice Note

Undue influence arises where the transaction is to the manifest disadvantage of the person subjected to the dominating influence. It is the abuse of a relationship of...

Practice Note

Losing guarantee covenants At any point in the economic cycle landlords will want to protect themselves against tenant default, particularly in the case of potentially...

Practice Note