"this right is nothing of value when tenant is broke !!" ....What do you mean by this? It makes no sense
The right to termination of the tenant is a powerful tool. Consider a scenario, if Healthscope leases is terminated from all its hospitals, it has no place to conduct business and there is then no business, NOTHING at all to sell and salvage any funds invested. They desperately want to avoid termination.
For the landlord HCW if the existing tenant is terminated, it allows HCW to remove Healthscope and potentially install a new well funded tenant such as Ramsay or Cabrini etc. Potentially a new tenant comes in, takeover the business/goodwill etc for no charge, just take over the lease, pay the rent.
No I haven't read the lease, No I don't know the exact details due to the receivers and administrators appointed, but I have punted commercial tenants from my properties under termination rights for non payment.
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