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The first section of the term in the lease states that you cannot assign etc. PART only of the demised premises. This would allow you to let the whole of it.
The second section states that during the last 7 years of the lease you are not to assign or underlet ...possession of the demised premises without stipulating whether they are referring to part or whole.
Provided you are not in the last 7 years of the term of the lease you do not need permission to sublet the whole of the premises.
Any ambiguity works against the freeholders.
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