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Thursday 15 May 2014

Break Clauses: More Bad News for Tenants

Should a Tenant who breaks its Lease midway through a quarter, having (a) paid the break fee (over £900K) which is specified in the Lease and (b) paid the full quarter’s rent be entitled to a refund of the rents it paid beyond the break date? The Court of Appeal has just decided that unless the Lease contains clear and express wording to the contrary, the answer is no. So the Landlord gains a windfall.

This decision is clearly very bad news for Tenants.

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