Commercial Property Leases (Statutory Audit)

Extract 4 only

Finds the specific period of time for which the lease is initially granted.

10 years

3.1 The Landlord with full title guarantee lets the Property to the Tenant for a term of 10 years commencing on and including the Term Commencement Date (subject to a Tenant’s right to break in accordance with clause 30)

Position 1 in the Contractual term chain

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Finds the time period for which a lease is initially granted. Trained on English commercial property leases.

Contractual Term: a term of years beginning on and including 1st April 2019 and ending on and including 1st April 2144.

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Position 2 in the Contractual term chain

Extract 4 only

Finds the specific date of a Commercial Property Leases execution from within the clause or statement that defines the execution date of the lease.

2021-01-11 *

THIS LEASE is dated 11 January 2021

Position 1 in the Date of agreement chain

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Finds the lease's date on the agreement date line. Trained on English commercial property leases. Not trained on the date in Land Registry prescribed clauses or particulars. 

This lease is dated 30th April 2018.

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Position 2 in the Date of agreement chain

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Finds the whole clause pertaining to the governing law of the agreement.

This lease and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

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Position 2 in the Governing law chain

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Finds the specific name of the governing law of the agreement.

England and Wales *

The validity, construction and performance of this Lease and any non-contractual obligations arising out of or in connection with it (and any claim, dispute or matter arising under or in connection with this Lease or such obligations, or the enforceability of, or the legal relationships established by this Lease or such obligations) shall be governed by and construed in accordance with the law of England and Wales.

Position 1 in the Governing law chain

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Finds the right of a tenant to share occupation of the premises with third parties in the same corporate structure. Trained on English commercial property leases.

The Tenant may share occupation of the Property with any company that is a member of the same group (within the meaning of section 42 of the LTA 1954) as the Tenant for as long as that company remains within that group and provided that no relationship of landlord and tenant is established by that arrangement

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Extract 4 only

Finds the rental amount that the tenant must pay to the landlord from within the initial rent definition or the clause commonly entitled "Rent" or "Initial Rent".

375000 £ *

Annual Rent £375,000 a year (subject to review in accordance with Schedule 3);

Position 1 in the Initial rent chain

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Finds the amount the tenant must pay as an initial rent. Trained on English commercial property leases.

Annual Rent: rent at an initial rate of £13,500.00 per annum and then as revised pursuant to this lease and any interim rent determined under the LTA 1954.

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Position 2 in the Initial rent chain

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Finds provisions that obligate a party to obtain insurance, and the types of insurance to obtain.

8. Insurance 8.1 The Tenant shall insure the Property against loss or damage by the Insured Risks for the sum which the Landlord or the Trustees reasonably consider to be its full 10 reinstatement cost and such insurance to include public liability insurance for any anticipated use of the Property by the public. 8.2 The Tenant shall: (a) As soon as reasonably practicable, to inform the Landlord or the Trustees if any matter occurs that any insurer or underwriter may treat as material in deciding whether or on what terms to insure or to continue to insure the Property and shall give the Landlord or the Trustees notice of that matter; (b) not do or omit anything as a result of which any policy of insurance of the Property or any neighbouring property of the Landlord may become void or voidable or otherwise prejudiced, or the payment of any policy money may be withheld, nor (unless the Tenant has previously notified the Landlord and has paid any increased or additional premium) anything as a result of which any increased or additional insurance premium may become payable;...

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Finds provisions on how general notices should be served upon a party and permissible forms of communication.

33. Notices, consents and approvals 33.1 A notice given under or in connection with this lease shall be: (a) in writing unless this lease expressly states otherwise and for the purposes of this clause an e-mail is not in writing; or (b) given by hand or by pre-paid first-class post or other next working day delivery service at the party's registered office address (if the party is a company) or (in any other case) at the party's principal place of business. 33.2 If a notice is given in accordance with clause 33.1, it shall be deemed to have been received: (a) if delivered by hand, at the time the notice is left at the proper address; or (b) if sent by pre-paid first-class post or other next working day delivery service, on the second working day after posting....

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Finds provisions describing the tenant’s right to use car parking, including the allocated number of spaces. Trained on English commercial property leases.

To use at all reasonable times for parking two private motor cars and light vans only those parking spaces demised shown edged in yellow on the Plan and which have been designated for the sole use by the Tenant together with the right on foot and with motor vehicles of access to and egress from such parking spaces over the Common Parts

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Extract 4 only

Name: WILTSHIRE COUNCIL of | Definition: (Landlord) | Number: | Address: Bythesea Road, Trowbridge, Wiltshire, BA14 8JN

Name: KALVISTA PHARMACEUTICALS LIMITED | Definition: (Tenant)| Number: 07543947 | Address: Building 227, Tetricus Science Park, Porton Down, Salisbury, Wiltshire SP4 0JQ 

Parties (1) WILTSHIRE COUNCIL of Bythesea Road, Trowbridge, Wiltshire, BA14 8JN (Landlord). (2) KALVISTA PHARMACEUTICALS LIMITED incorporated and registered in England and Wales with company number 07543947 whose registered office is at Building 227, Tetricus Science Park, Porton Down, Salisbury, Wiltshire SP4 0JQ (Tenant).

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Finds the definition of Permitted Use, "Permitted User", "Authorised Use". Trained on English commercial property leases.

1.16 Permitted User The retailing and provision of financial and banking advice services and products and advice services and products sold or dispensed by a retail bank and all ancillary services products or items related thereto and any use within class A2 of the schedule to the Town & Country Planning (Use Classes) Order 1987 (to which Clause 2.6 shall not apply)

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Finds a full description of the property, including address and parts that are, or are not, included. Trained on English commercial property leases.

"the Premises" means the part of the Building known as part second floor offices Redwood House 854 Salsbury Way and shown edged red on the plan marked “A” annexed (“Plan ‘A’”) including:- 1.16.1 the inner half severed medially of any non load-bearing wall which . surrounds it 1.16.2 the entirety of all non load-bearing walls and columns wholly within it 1.16.3 the floor and ceiling finishes (but not any other part) of the floor slabs _and ceiling slabs which divide them from any adjoining part of the Building 1.16.4 the internal plaster surfaces and finishes of all load-bearing walls and columns but not any other part of such walls and columns 1.16.5 all internal window frames window glass window furniture doors door frames and door furniture 1.16.6 all Landlord's fixtures and fittings plant machinery apparatus and equipment now or at any time installed in the future 1.16.7 all additions alterations and improvements made from time to time 1.16.8 the Conduits exclusively serving and within it and any reference in this Lease to "the Premises" shall include any part of the Premises

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Finds provisions on tenant's obligations to pay principal rent, amounts, and periodic instalments. Trained on English commercial property leases.

Subject to clauses 5.2 to 5.4 below, the Tenant shall pay the Annual Rent and any VAT in respect of it by four equal instalments in advance on or before the Rent Payment Dates. The payments shall be made by banker’s standing order or by any other method that the Landlord requires at any time by giving notice to the Tenant. 5.2 The first instalment of the Annual Rent and any VAT in respect of it shall be made on the date of this lease and shall be a full quarter’s rent (notwithstanding that there may be less than a full quarter remaining until the next Rent Payment Date). 8 No Annual Rent shall be payable during the Rent Free Period. 5.3 5.4 On December 12th 2012, the Tenant shall pay to the Landlord the proportion of the Annual Rent, calculated on a daily basis, payable in respect of the period from December 12th 2012 to the day before the next Rent Payment Date.

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Extract 4 only

Finds the specific date for when rent reviews will occur, from within the definition of "rent review date" or similar definitions.

2017-03-12 *

Review Date: 12th of March 2017 and every fifth anniversary of that date.

Position 1 in the Rent Review date chain

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Finds the dates or trigger for when the rent amount will be reviewed. Trained on English commercial property leases.

Review Date: 12th of March 2017 and every fifth anniversary of that date.

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Position 2 in the Rent Review date chain

Extract 4 only

Finds the clause commonly entitled "Sublet of Part" or "Underlease of Part" which governs whether the tenant can or cannot sublet part of the premises to another party.

17.2 The Tenant shall not underlet part only of the Property.

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Extract 4 only

Finds the clause commonly entitled "Sublet of Whole" or "Underlease of Whole" which governs whether the tenant can or cannot sublet all of the premises to another party.

17.1 The Tenant shall not underlet the whole of the Property except in accordance with this clause nor without the consent of the Landlord, such consent not to be unreasonably withheld or delayed.

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Extract 4 only

Finds the specific date for the start of the lease term from within definition of 'term commencement date'.

2021-11-18 *

"Term Commencement Date" means 18 November 2021;

Position 1 in the Term Commencement chain

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Finds the date when the term of the lease will begin. Trained on English commercial property leases.

"Term Commencement means 12 November 2014

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Position 2 in the Term Commencement chain

Extract 4 only

Finds the date on which the lease will terminate, from within the term or termination clause of the agreement.

2026-01-11 *

Contractual Term: a term of five years beginning on the date of this lease and expiring on and including 11 January 2026.

Extract 4 only

Finds the date on which the term of the lease will end. Trained on English commercial property leases.

"Termination Date" means the date of expiration or sooner determination of the Term

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Finds the provisions on ending the lease in the event of irreparable damage to the property (Impossibility of reinstatement). Trained on English commercial property leases.

If the Premises or the Building shall suffer damage howsoever caused of such a substantial nature as in the Landlord's reasonable opinion to render the reinstatement of the Premises pursuant to clause 5.1.2 impracticable within the period of loss of rent insurance effected under ciause 5.1.1, then the Landlord may at any time terminate this Lease by giving written notice to the Tenant.

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Finds the purposes for which the property can and cannot be used and, permitted or prohibited conduct on the property. Trained on English commercial property leases.

The Tenant shall not use the Property for any purpose other than the Permitted Use. 26.2 The Tenant shall not use the Property for any illegal purpose nor for any purpose or in a manner that would cause loss, damage, injury, nuisance or inconvenience to the Landlord, the other tenants or occupiers of the Lettable Units or any owner or occupier of neighbouring property. 26.3 The Tenant shall not overload any structural part of the Property nor any machinery or equipment at the Property nor any Service Media at or serving the Property.

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