Lease terms
1 Definitions and interpretation
1.1 Definitions
As well as the matters defined in the Particulars, the following
definitions apply.
Common Parts means any amenities from time to time
provided by the Landlord for common use and any fire escape.
Conduits means all pipes, wires, conducting media and their
ancillary apparatus.
Fair Proportion means a fair proportion reasonably determined
by the Surveyor.
Insured Risk means fire, explosion, lightning, earthquake,
storm flood, burst and overflowing pipes and tanks, aircraft,
aerial devices and articles dropped therefrom, impact, landslip
subsidence, and heave terrorism, malicious damage, riot and
civil commotion.
Interest means interest both before and after any judgment
calculated daily from the due date to the date of payment at the
rate of 4 per cent a year above the base rate from time to time
of such UK clearing bank as the Landlord may choose.
Particulars means the particulars to this Lease.
Surveyor means a professionally qualified surveyor appointed
by the Landlord, who may be an employee of the Landlord.
1.2 Interpretation
1.2.1 Where a party to this Lease includes two or more people, the
obligations undertaken by that party are made by those people
jointly and severally.
1.2.2 An obligation on the Tenant’s part not to do something includes
an obligation not to permit or suffer that thing to be done by
another person.
1.2.3 The consideration for any supply made by the Landlord under
this Lease is exclusive of VAT.
2 Letting
The Landlord leases to the Tenant the Property:
2.1 for the Term;
2.2 with (but not exclusive to the Tenant) the rights mentioned in
Clause 3;
2.3 except and reserving the rights mentioned in Clause 4.
3 Rights granted
The following rights are granted to the Tenant:
3.1 The right to use the Common Parts for all proper purposes in
connection with the use of the Property.
3.2 The right to use the Conduits which are in other property
belonging to the Landlord and serve the Property in common
with other property.
4 Exceptions and reservations
The following rights are excepted and reserved by the Landlord:
4.1 The right to use, and connect to, the Conduits forming part of the
Property which serve, or are capable of serving, other property.
4.2 The right, at reasonable times and on reasonable notice, but in
case of emergency without notice, to enter the Property to:
4.2.1 examine and record the condition of the Property;
4.2.2 inspect, repair, maintain or clean other property or Conduits;
4.2.3 make good any default by the Tenant;
4.2.4 exercise any rights under this Lease;
4.2.5 show prospective tenants and buyers around the Property; and
4.2.6 do any other reasonable thing in connection with the Property
the Landlord causing as little inconvenience as possible and
making good without unreasonable delay any physical damage
caused by the entry.
04 RICS Small Business Retail Lease Copyright RICS 2012
4.3 The right to carry out works to other property, including erecting
scaffolding attached to the Property but not, save in emergency,
so as to prevent access to the Property.
4.4 All light, support and any other rights enjoyed by any other
property.
4.5 The right to display a sale or letting board on the Property
as long as it does not obstruct the Tenant’s signage or
window display.
4.6 The right to:
4.6.1 sell, as agent for the Tenant, any belongings of the Tenant left in
the Property for more than five working days after the Term
ends; and
4.6.2 keep the net sale proceeds, if the Tenant does not claim them
within six months after the Term ends.
5 Tenant's obligation to pay the Rent
The Tenant agrees:
5.1 To pay to the Landlord the Rent specified in the Particulars.
5.1.1 by equal monthly payments in advance on the first day of each
month and proportionately for any period of less than a month;
5.1.2 making the first payment as specified in the Particulars.
5.2 If required by the Landlord, to pay the Rent by banker’s order
or BACS.
5.3 Not to claim or exercise any right to legal or equitable set off, or
to withhold payment, of any amounts due to the Landlord.
6 Tenant's additional obligations
The Tenant agrees:
6.1 Interest
6.1.1 To pay Interest on:
(a) any Rent (including VAT) which remains unpaid after the
due date; and
(b) any other amount payable to the Landlord under this
Lease which is not paid within five working days after the
due date.
6.1.2 For the purposes of Clause 6.1.1, an amount shall be treated as
unpaid for any period during which there is a breach by the
Tenant of the terms of this Lease and the Landlord refuses to
accept payment.
6.2 VAT
6.2.1 To pay to the Landlord any VAT chargeable on the consideration
for any supply made by the Landlord under this Lease.
6.2.2 Where the Tenant is to refund any payment made by the
Landlord, to pay to the Landlord an amount equal to the VAT
payable by the Landlord, except to the extent the Landlord can
recover that VAT as input tax.
6.3 Outgoings
6.3.1 To pay all rates, taxes and other outgoings for the Property,
except any tax assessed on the Landlord for its ownership of,
rental income from, or dealing with its interest in the Property.
6.3.2 To pay all charges for the Property for electricity, water,
telephone and other utilities.
6.3.3 To pay a Fair Proportion of any rates or other outgoings which
are payable for any property of which the Property forms a part.
6.4 Repair etc.
6.4.1 To keep the Property clean, tidy and in no worse state of
repair and decoration than that in which it now is or, if this
lease is a renewal, was, as evidenced by the Schedule of
Condition attached.
6.4.2 Damage by any Insured Risk is excepted from Clause 6.4.1,
save to the extent any insurance money is irrecoverable
because of the Tenant’s default.
