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Write a Commercial Lease Termination Agreement for a tenant vacating a property.
Commercial Lease Termination Agreement
This Commercial Lease Termination Agreement ("Agreement") is made and entered into as of [Date] by and between [Landlord Name], with a registered office at [Landlord Address] ("Landlord"), and [Tenant Name], with a registered office at [Tenant Address] ("Tenant").
1. Introduction
1.1. This Agreement is made in connection with the Lease Agreement dated [Date] (the "Lease"), between Landlord and Tenant for the premises located at [Property Address] (the "Premises").
1.2. Tenant desires to terminate the Lease early, and Landlord agrees to such termination subject to the terms and conditions set forth in this Agreement.
2. Termination of Lease
2.1. The Lease is hereby terminated effective [Date] (the "Termination Date").
2.2. Upon the Termination Date, Tenant shall vacate the Premises and surrender possession thereof to Landlord in good condition, ordinary wear and tear excepted.
3. Rent and Other Obligations
3.1. Tenant shall pay all rent and other charges due under the Lease up to and including the Termination Date.
3.2. Tenant shall be responsible for all utilities and other expenses incurred in connection with the Premises up to and including the Termination Date.
4. Remedies for Landlord
4.1. If Tenant fails to vacate the Premises on or before the Termination Date, Landlord shall be entitled to pursue all remedies available to it under the Lease and applicable law, including but not limited to:
Eviction proceedings;
Damages for breach of contract; and
Recovery of all unpaid rent and other charges.
5. Release of Liability
5.1. Upon the full and complete performance of this Agreement by Tenant, Landlord shall release Tenant from all further liability under the Lease, except for any obligations that have accrued prior to the Termination Date.
6. Governing Law
6.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
7. Notices
7.1. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, or sent by overnight courier service, addressed as follows:
If to Landlord: [Landlord Address]
If to Tenant: [Tenant Address]
8. Entire Agreement
8.1. This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.
9. Severability
9.1. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.
10. Waiver
10.1. No waiver of any breach of this Agreement shall be deemed a waiver of any subsequent breach.
11. Binding Effect
11.1. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
12. Counterparts
12.1. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
13. Governing Law
13.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
14. Dispute Resolution
14.1. Any dispute arising out of or relating to this Agreement shall be settled amicably through negotiation.
14.2. If the parties are unable to reach an amicable settlement, the dispute shall be referred to arbitration in accordance with the Arbitration Act, 1995.
15. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Landlord:
[Landlord Name]
[Landlord Signature]
Tenant:
[Tenant Name]
[Tenant Signature]
Table of Contents
Introduction
Termination of Lease
Rent and Other Obligations
Remedies for Landlord
Release of Liability
Governing Law
Notices
Entire Agreement
Severability
Waiver
Binding Effect
Counterparts
Governing Law
Dispute Resolution
Signatures
TLDR
This Agreement terminates the Lease Agreement between Landlord and Tenant for the Premises located at [Property Address]. Tenant shall vacate the Premises and surrender possession thereof to Landlord in good condition, ordinary wear and tear excepted. Tenant shall pay all rent and other charges due under the Lease up to and including the Termination Date.
Conclusion
This Agreement is a sample and should be reviewed by a qualified legal professional before being used in any actual transaction. The specific terms of this Agreement should be tailored to the specific circumstances of the parties.
Sample Commercial Lease Termination Agreement
This Commercial Lease Termination Agreement ("Agreement") is made and entered into as of [Date] by and between [Your Full Name], with a registered office at [Your Address] ("Landlord"), and [Tenant Full Name], with a registered office at [Tenant Address] ("Tenant").
1. Introduction
1.1. This Agreement is made in connection with the Lease Agreement dated [Date] (the "Lease"), between Landlord and Tenant for the premises located at [Property Address] (the "Premises").
1.2. Tenant desires to terminate the Lease early, and Landlord agrees to such termination subject to the terms and conditions set forth in this Agreement.
2. Termination of Lease
2.1. The Lease is hereby terminated effective [Date] (the "Termination Date").
2.2. Upon the Termination Date, Tenant shall vacate the Premises and surrender possession thereof to Landlord in good condition, ordinary wear and tear excepted.
3. Rent and Other Obligations
3.1. Tenant shall pay all rent and other charges due under the Lease up to and including the Termination Date.
3.2. Tenant shall be responsible for all utilities and other expenses incurred in connection with the Premises up to and including the Termination Date.
4. Remedies for Landlord
4.1. If Tenant fails to vacate the Premises on or before the Termination Date, Landlord shall be entitled to pursue all remedies available to it under the Lease and applicable law, including but not limited to:
Eviction proceedings;
Damages for breach of contract; and
Recovery of all unpaid rent and other charges.
5. Release of Liability
5.1. Upon the full and complete performance of this Agreement by Tenant, Landlord shall release Tenant from all further liability under the Lease, except for any obligations that have accrued prior to the Termination Date.
6. Governing Law
6.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
7. Notices
7.1. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, or sent by overnight courier service, addressed as follows:
If to Landlord: [Your Address]
If to Tenant: [Tenant Address]
8. Entire Agreement
8.1. This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.
9. Severability
9.1. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.
10. Waiver
10.1. No waiver of any breach of this Agreement shall be deemed a waiver of any subsequent breach.
11. Binding Effect
11.1. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
12. Counterparts
12.1. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
13. Governing Law
13.1. This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.
14. Dispute Resolution
14.1. Any dispute arising out of or relating to this Agreement shall be settled amicably through negotiation.
14.2. If the parties are unable to reach an amicable settlement, the dispute shall be referred to arbitration in accordance with the Arbitration Act, 1995.
15. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Landlord:
[Your Full Name]
[Your Signature]
Tenant:
[Tenant Full Name]
[Tenant Signature]
Table of Contents
Introduction
Termination of Lease
Rent and Other Obligations
Remedies for Landlord
Release of Liability
Governing Law
Notices
Entire Agreement
Severability
Waiver
Binding Effect
Counterparts
Governing Law
Dispute Resolution
Signatures
TLDR
This Agreement terminates the Lease Agreement between Landlord and Tenant for the Premises located at [Property Address]. Tenant shall vacate the Premises and surrender possession thereof to Landlord in good condition, ordinary wear and tear excepted. Tenant shall pay all rent and other charges due under the Lease up to and including the Termination Date.
Conclusion
This Agreement is a sample and should be reviewed by a qualified legal professional before being used in any actual transaction. The specific terms of this Agreement should be tailored to the specific circumstances of the parties.
Answered by mwakili.com