A lease for use as an underlease of the whole of an office building.

The lease contains prescribed clauses and optional provisions if there is a tenant's guarantor.

The tenant repairs the demise. The lease can be used as a full repairing and insuring lease (FRI lease). Alternatively, the tenant's repair obligation can be qualified by reference to a schedule of condition.

The lease assumes that, under the superior lease, the superior landlord demised the whole building to the landlord (as tenant of the superior lease) and the superior landlord is responsible for insuring the building. Accordingly, this lease requires the tenant to pay to the landlord the whole of the insurance rent that the landlord (as tenant of the superior lease) pays under the superior lease.

The lease contains optional provisions to deal with uninsured risks. The lease will need to mirror the terms of the superior lease in relation to the treatment of uninsured risks.

The landlord will not retain any part of the building and the building does not form part of an estate owned by the landlord or superior landlord. Therefore, the lease does not include any service charge provisions.

The lease contains optional provisions for either an upwards only open market rent review (including an optional cap and collar on the reviewed rent) or the reviewed rent to be the revised rent payable under the superior lease. These provisions should be deleted if there is to be no rent review.

The lease also contains optional wording for a break clause.

The lease contains optional wording to enable it to be used as a renewal lease.