Landlord's Consent to Assignment of Lease

Summary

This precedent is a landlord's consent allowing a tenant to assign its interest in a lease to a third party (the assignee or new tenant). Most commercial leases require that the tenant obtain the landlord's consent before any assignment of the lease can be completed. This document provides the landlord's written consent in exchange for assurances from the assignee that the lease will be complied with the original tenant will also remain liable. This precedent contains practical guidance and drafting notes. A commercial lease usual prevents a tenant from unilaterally assigning its interest as a tenant without the landlord's consent. The contract which is the commercial lease was made between the landlord and the original tenant, not a third party. The consent provision means that the tenant needs to obtain the landlord's permission before the assignment can be properly executed and entered into with another party, namely, the assignee (new tenant). Otherwise, the assignment is invalid ...