This office lease form illustrates the landlord consent in the form of a short letter from the landlord to its tenant, the sublessor.
Delaware Short Form Landlord Consent - Assignment of Office Lease
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US-OL30042A
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How to fill out Short Form Landlord Consent - Assignment Of Office Lease?
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Notwithstanding any other provision of this Agreement, each party hereto hereby consents to the assignment, grant, pledge, conveyance and transfer by the other party hereto, for the benefit of any lender, agent or other secured party under any financing arrangement to which the Partnership is a party, of a lien, ...
This letter should be sent once the landlord has considered the tenant's application for consent to assign and has decided to allow the assignment to go ahead. If the landlord has decided to withhold consent to the assignment, the Refusal of Consent Letter should be used instead.
§ 5514. Security deposit. (a) (1) A landlord may require the payment of security deposit. (2) No landlord may require a security deposit in excess of 1 month's rent where the rental agreement is for 1 year or more.
Assignment clauses are an important part of commercial leasing. They provide successful tenants an opportunity to sell their businesses and provide failing businesses the possibility of finding replacement tenants in order to avoid breaching their leases.
The original tenant cannot assign more rights than it has under the original lease. For example, if the term of the lease is 1 year, the term of the assignment cannot be 2 years. Most leases will require the landlord's written consent before an assignment becomes effective.
§ 5106. Rental agreement; term and termination of rental agreement. (a) No rental agreement, unless in writing, shall be effective for a longer term than 1 year.
'Assigning' a lease simply means transferring your lease to another person so that they become the new tenant. Once the assignment has taken place the lease continues to exist and the new tenant becomes liable for all of the tenant's obligations in the lease.
When making a request for consent to assign a lease, the Tenant should include all relevant information about the proposed assignee, to enable the Landlord to make a decision. Relevant information is likely to include company details, audited accounts and references.
