Sentences with phrase «only over the term of the lease»

Not exact matches

The Court of Appeal allowed the tenant's appeal on the apparently broad grounds that a lease could only be excluded from LTA 1954 if it was for a term of years certain and the words of extension in cl 1 of the lease in question, including any period of holding over or extension in the definition of «the term», meant that the lease did not create a term of years certain.

Critical to the decision of the Court of Appeal was the wording of cl 1 of the lease which set out the term granted in the following way: «from and including 1 January 2003 to 28 September 2004 (hereinafter called «the term» which expression shall include any period of holding over or extension of it whether by statute or at common law or by agreement)...» Rimmer LJ, who gave the only substantive judgment in the case, referred to the words in brackets in this clause as «the words of extension».

A valuator will want to examine the accounts of the tenant (or tenants) to see how financially sound they are Think of a valuator as a nicer version of your bank manager - the latter only looks to see if you can repay him, but the valuator will check if the tenant can repay you and he does this through a knowledge of accounting and business acumen, how businesses produce income and how stable that income will be over the term of the lease.