An Authorised Guarantee Agreement (AGA) is a contract that requires a departing tenant to ensure that the new tenant, often known as the “Assignee,” complies with the tenant covenants outlined in the lease. The AGA permits the landlord to pursue the departing tenant in accordance with the AGA’s provisions if the Assignee neglects to fulfil […]
The process of assignment of a lease is essentially selling the lease to a third party (the “assignee”). If you rent commercial property, there’s probably a provision in your lease that lets you assign it to another tenant. You will have to look for a possible new tenant on your own in order to achieve this. […]
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