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Covenants under sporting lease.
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5.—(1) A sporting lease shall contain such covenants and conditions as may be agreed upon between the parties or, in default of agreement, as may be determined by the Court.
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(2) If the Court fixes the covenants and conditions of the sporting lease, the lessee shall be made liable to pay all rates for the land and to insure against fire and keep the premises in repair.
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(3) Where a sports club is entitled to a sporting lease under this Act and the terms of that lease are fixed by the Court, the sporting lease shall contain the following conditions:
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(a) that the amount of the rent shall, on the application of the lessor to the Court, be subject to a review at any time after the expiration of twenty-four years of the term granted by the sporting lease and to a further review at any time after the expiration of twenty-five years from the first or any subsequent review, and
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(b) that, if the property demised by the sporting lease is not used for or in connection with some outdoor sport, game or recreation, the lessor shall be entitled to terminate the lease on giving three months' notice to the lessee.
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