The License to Assign Leasehold is a critical document in Irish property transactions, required whenever a tenant wishes to transfer their leasehold interest to another party. This document is essential in both commercial and residential contexts, as most leases contain provisions requiring the landlord's formal consent before any assignment can take place. The license provides protection for all parties by clearly setting out the conditions of the landlord's consent, any continuing obligations of the original tenant, and the requirements that must be met by the incoming tenant. It typically includes details about the property, reference to the original lease, financial obligations, and any specific conditions that must be satisfied before the assignment can proceed. The document must comply with Irish property law, particularly the Landlord and Tenant Acts and the Land and Conveyancing Law Reform Act 2009.
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1. Parties: Identifies the Landlord (Licensor), Current Tenant (Assignor), and proposed New Tenant (Assignee)
2. Background: Recitals explaining the existing lease arrangement, the desire to assign, and the purpose of this license
3. Definitions: Defines key terms used throughout the document, including 'Lease', 'Property', 'Assignment Date', and 'License Fee'
4. Grant of License: The formal permission granted by the Landlord for the assignment of the lease
5. Conditions of Assignment: Specific conditions that must be met before the assignment can proceed
6. Assignee Covenants: Direct covenants from the proposed new tenant to comply with lease terms
7. Assignor Obligations: Continuing obligations of the current tenant, including any guarantees
8. Fees and Costs: Details of any license fee and responsibility for legal costs
9. Timing and Completion: Timeframe for completing the assignment and any deadline for the license
10. Governing Law: Confirmation that the agreement is governed by Irish law
1. Security Deposit Arrangements: Required when there are specific arrangements for transferring or replacing the security deposit
2. Guarantor Provisions: Include when a guarantor is required for the new tenant
3. Break Clause: Include when specific termination rights are being granted to any party
4. Rent Review Acknowledgment: Required when there is an upcoming or ongoing rent review
5. Works Provisions: Include when the assignment involves ongoing works or alterations
6. Service Charge Reconciliation: Required when there are outstanding service charge calculations to be addressed
1. Schedule 1 - Property Description: Detailed description of the property including any plans or maps
2. Schedule 2 - Original Lease Details: Key details from the original lease including date, parties, and term
3. Schedule 3 - Conditions Precedent: List of conditions that must be satisfied before assignment
4. Schedule 4 - Form of Assignment: Prescribed form of the deed of assignment to be used
5. Schedule 5 - Assignee Information: Details of the proposed assignee including financial information and references
6. Appendix A - Consent Letter: Standard form of the formal consent letter to be issued upon completion
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