Break Clauses

This work gives clear, practical guidance on the law and procedure relating to break clauses in commercial leases. It offers step-by-step guidance for practitioners advising on the drafting, exercise, validity and interpretation of break clauses in tenancy agreements, a complex and often contentious area of landlord and tenant law. Clear advice is given throughout on how to deal with the situations that can arise in daily practice. This book: Deals with all aspects of break clauses in commercial leases - and contains guidance on break clauses in residential tenancies Covers the law from both landlords' and the tenants' perspectives, enabling practitioners to advise either party Advises on drafting break clauses and break notices, and on the pitfalls of certain approaches Includes a set of precedent clauses and notices Gives guidance on interpreting break clauses and break notices Explains how break clauses relate to other clauses in the lease, such as rent review clauses and repair covenants Discusses the effect of exercising a break notice on the obligations of landlord and tenant Goes through the formalities and the possible registration requirements of break clauses Considers the procedure for serving a break notice and the consequences of failing to comply with that procedure Explains the interrelationship between break clauses and the security of tenure procedures under the Landlord and Tenant Act 1954. Contents Introduction to Break Clauses; Formalities & Registration; The Parties Who Should Serve & Be Served With a Break Notice; The Form & Service of the Break Notice; Time for Service of a Break Notice; Conditions Precedent to the Exercise of a Break Clause; The Effect of Exercising a Break Notice; Break Clauses and the Landlord and Tenant Act 1954; Drafting Break Clauses in Practice. Jurisdiction: England & Wales