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Sample 1 Sample 2. EARLY TERMINATION CLAUSE. The Landlord will have the right, at any time after the 78th month of the Term including any further extension or renewal thereof, to terminate this Lease on 18 months’ written notice (the “ Termination Notice ”) to the Tenant, for any reason. For clarity the Termination cannot be effective ...
Jul 31, 2023 · An early termination clause in a lease, or lease agreement, is a provision that allows a tenant to vacate the property before the term of the lease has ended without facing legal repercussions. Rooted in contract law, this clause gives landlords and tenants a degree of flexibility but must be carefully structured to be legally sound, fair, and beneficial to both parties involved.
Mar 5, 2024 · An early termination fee is typically two month’s worth of rent. Any more would be considered excessive by courts. Many lease clauses include an early termination fee. However, you don’t have to include the option of paying a fee—you may simply require that they pay rent until you find a replacement tenant.
Oct 10, 2023 · An early termination clause, often referred to as a “break clause”, is a provision integrated into certain types of contracts that allows one or both parties involved to end the contract before its specified completion date. This provision plays a crucial role in a variety of contractual contexts, offering a degree of flexibility and ...
Jul 24, 2024 · 1. Review the Lease Agreement. The first step in negotiating an early termination is to thoroughly review the lease agreement. This document will outline the rights and obligations of both parties, including any clauses related to early termination, penalties, and notice periods. Key points to look for include:
May 30, 2024 · Mutual Termination Agreement: Negotiate terms for a mutual termination agreement, which might include paying a termination fee or forfeiting the security deposit. Amendment to Lease: Agree on an amendment to the lease that specifies the terms of early termination. Assignment or Subletting. Find a Replacement Tenant: If allowed by your lease ...
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Sep 12, 2024 · Lease Clauses Allowing Early Termination: Some leases include an early termination clause, which outlines the conditions under which a tenant can break the lease. This may involve providing a certain amount of notice and paying an early termination fee. Landlord Non-Compliance: If the landlord or tenant fails to meet lease obligations, such as ...
