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Law360: More remote hearings are a 'needs must' to cope with a surge in claims from workers and difficulties in recruiting judges to work in London, the president of the Employment Tribunals has said.
PRECEDENTS
Key information Name of firm [Insert firm name] Name of role holder [Insert name] Reports to [Insert, eg Board] Role type [Insert, eg Full-time/Part-time/Contractor][If a contractor role, length of contract] Primary location [Insert the primary location for this role—if there is a requirement for the role holder to regularly spend time in multiple locations, eg in each regional office, it is worth making sure this is made clear] Remote/hybrid/office-based? [Insert type of work model] Date role commenced [Insert date] Length of probation period [Insert] End of probation review date [Insert date] Role summary • To lead and direct the Finance department
PRECEDENTS
Key information Name of firm [Insert firm name] Name of role holder [Insert name] Reports to [Head of Human Resources (HR) or HR manager or Head of Professional Standards and Training] Role type [Insert, eg full-time/part-time/contractor][If a contractor role, length of contract] Primary location [Insert the primary location for this role—if there is a requirement for the role holder to regularly spend time in multiple locations, eg in each regional office, it is worth making sure this is made clear] Remote/hybrid/office-based? [Insert type of work model] Date role commenced [Insert date] Length of probation period [Insert] End of probation review date [Insert date] Role summary • To
GLOSSARY
The officer designated under the Local Government and Housing Act 1989, s 4, generally known as the chief executive officer.
GLOSSARY
The incidental costs of running the contractor's business as a whole, which are not incurred directly as a result of the particular project. These overheads are generally administrative expenses and may include items such as rent, rates, directors' salaries, finance charges and auditors' fees.
GLOSSARY
The control centre for a cable system where signals such as terrestrial and satellite TV channels are received, processed and sent for distribution down the cable system.
PRECEDENTS
Heading and lead-in language [Letterhead of Party A] To: [Insert Party B Legal Name] Address Details: [Insert as specified in the ISDA Schedule] Attention: [Insert if specified in the ISDA Schedule] Date: [Insert date of notice] Delivery: [[By
PRACTICE NOTES
Linking headlease rent to underlease rents The rent payable under a headlease can be linked directly to the rent paid or payable under actual or potential underleases out of that headlease. In this scenario, the headlease rent may be interchangeably described as a ‘geared rent’, ‘shared rent’, side-by-side rent’ or ‘indexed rent’, and a lease in which such a rent appears is sometimes referred to as an ‘equity-sharing lease’. Typically, the headlease establishes a base rent with an additional rent then being calculated and payable as a defined percentage of the tenant’s ‘gross revenue’ (as defined in the headlease) from underlettings: see Calculating the tenant’s ‘gross revenue’ below. This type of arrangement: • is only really appropriate where underlettings are envisaged at the time when the headlease is granted—as a result, it is ideally suited to the scenario where a freeholder grants a long headlease interest (typically in excess of 125 years) to a developer who will carry out the development and then underlet it, usually in parts, to individual occupiers • tends to be favoured by freehold
PRACTICE NOTES
This Practice Note looks at what a headline rent is and how a headline rent interacts with an open market rent review. For further guidance on rent review, see Practice Notes: Negotiation guide—rent review clauses—commercial leases and A guide to rent review for property lawyers. What is a headline rent? In a falling market, landlords frequently offer tenants financial inducements to take a lease in order to maintain the level of rent stated on the face of the lease. The inducement could be: • reduced rent for a period • a capital contribution to the costs of fitting-out, or • a rent-free period which is a pure incentive rather than one for fitting-out The higher level of rent, which a tenant is willing to pay after taking account of the inducement given to it, is a headline rent. This approach has benefits for the landlord: • it better protects the capital value of its investment than the lower rent that would be shown if no incentive had been given to the tenant to accept the higher figure • it
GLOSSARY
Any undrawn amount (ie amount remaining available) under a finance agreement.
GLOSSARY
Heads of agreement are preliminary agreements that precede substantive contract negotiations. They are also be referred to as: heads of terms, memorandum of understanding; letters of intent; pre-contract protocol or term sheet. Heads of terms provide an outline of the commercial deal agreed between the proposed parties to a contract rather than detailing the finer points.
GLOSSARY
Heads of terms are preliminary agreements that precede substantive contract negotiations. They are also be referred to as: heads of agreement, memorandum of understanding; letters of intent; pre-contract protocol or term sheet. Heads of terms provide an outline of the commercial deal agreed between the proposed parties to a contract rather than detailing the finer points.