sec.147Head lease may be surrendered and new head lease granted without affecting other rights and obligations

### sec.147 Head lease may be surrendered and new head lease granted without affecting other rights and obligations If a head lease is surrendered in order to be renewed, and another head lease (the new head lease ) is granted during the term of a sublease and the parties to the surrendered head lease and the new head lease are the same— the new head lease takes effect as if any sublease were surrendered; and any sublease remains valid; and the lessor under the new head lease, any parties to any sublease and any guarantor, have the same rights and obligations against each other as if the surrendered head lease had not been surrendered. - (a) the new head lease takes effect as if any sublease were surrendered; and - (b) any sublease remains valid; and - (c) the lessor under the new head lease, any parties to any sublease and any guarantor, have the same rights and obligations against each other as if the surrendered head lease had not been surrendered.