Key Takeaway
While covenant modification clauses may appear to grant broad powers to the Transferor, both Antiguan and British common law impose significant limitations. These powers must be exercised reasonably, in good faith, and with consideration for affected property owners' interests.
Original Stipulation
IT IS HEREBY AGREED AND DECLARED that the Transferor may at any time release, vary, or modify any of the stipulations contained in the said schedule hereto and the covenants on the part of the Transferee hereinbefore contained shall not operate in any part to impose any restriction on the manner in which the Transferor may deal with any other land belonging to it.
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