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Early Termination Of Commercial Lease Agreement
"I need an Early Termination of Commercial Lease Agreement for our retail store in Ontario, with a planned exit date of March 1, 2025, including specific provisions for the removal of custom-built fixtures and restoration of the premises to its original condition."
1. Parties: Identification of the Landlord and Tenant, including their legal names and addresses
2. Background: Details of the existing lease agreement, including date of execution, premises description, and reason for early termination
3. Definitions: Definitions of key terms used throughout the agreement
4. Termination Date: Specific date when the lease will terminate and conditions precedent if any
5. Financial Settlement: Details of any termination fees, rent adjustments, security deposit handling, and other financial matters
6. Mutual Release: Release of parties from future obligations under the original lease, subject to any surviving provisions
7. Surrender of Premises: Requirements for the condition and timing of premises surrender
8. Return of Keys and Access Devices: Process for returning all means of access to the premises
9. Utility Services: Arrangements for disconnection or transfer of utility services
10. Execution: Signature blocks and execution requirements
1. Tenant Improvements: Handling of any tenant improvements or alterations, used when premises have been modified
2. Environmental Matters: Environmental obligations and indemnities, included when premises involved industrial or potentially contaminating uses
3. Sublease Termination: Provisions dealing with any subleases or assignments, included when third parties occupy the premises
4. Restoration Requirements: Specific requirements for restoring premises to original condition, used when significant modifications were made
5. Surviving Provisions: List of provisions that survive termination, used when certain obligations continue post-termination
6. Personal Property: Provisions regarding removal or transfer of tenant's personal property, used when significant fixtures or equipment are involved
7. Insurance: Requirements for maintaining insurance during move-out period, used when extended surrender period exists
8. Confidentiality: Provisions regarding confidentiality of termination terms, used in sensitive commercial situations
1. Schedule A - Premises Description: Detailed description of the leased premises including floor plans
2. Schedule B - Financial Settlement Statement: Detailed breakdown of all financial settlements, including termination fee calculations
3. Schedule C - Surrender Condition Checklist: Detailed checklist of required condition for premises surrender
4. Schedule D - Outstanding Obligations: List of any outstanding obligations that survive termination
5. Schedule E - Exit Inspection Report: Template or actual inspection report documenting premises condition
6. Appendix 1 - Original Lease Reference: Copy or summary of original lease agreement and any amendments
7. Appendix 2 - Keys and Access Devices Inventory: List of all keys and access devices to be returned
8. Appendix 3 - Utilities Transfer Schedule: Schedule for transfer or disconnection of utility services
Authors
Original Lease
Premises
Landlord
Tenant
Termination Date
Effective Date
Security Deposit
Termination Fee
Surrender
Rent
Additional Rent
Outstanding Obligations
GST/HST
Permitted Use
Business Day
Lease Year
Common Areas
Operating Costs
Property
Building
Improvements
Fixtures
Personal Property
Claims
Release
Surviving Provisions
Inspection Report
Utility Services
Environmental Laws
Access Devices
Applicable Laws
Force Majeure
Governmental Authority
Notice
Financial Settlement
Release and Discharge
Premises Surrender
Property Condition
Security Deposit
Utilities and Services
Representations and Warranties
Environmental Compliance
Insurance
Indemnification
Confidentiality
Notice
Assignment
Governing Law
Dispute Resolution
Force Majeure
Severability
Entire Agreement
Amendment
Authority
Further Assurance
Time of Essence
Survival
Waiver
Costs
Counterparts
Registration
Retail
Office Commercial
Industrial
Hospitality
Healthcare
Technology
Manufacturing
Warehousing
Professional Services
Entertainment
Education
Food Services
Legal
Real Estate
Facilities Management
Finance
Operations
Risk Management
Compliance
Property Management
Asset Management
Administration
Property Manager
Real Estate Manager
Facilities Manager
Commercial Lease Administrator
Chief Financial Officer
Operations Director
Real Estate Director
Corporate Counsel
Legal Counsel
Business Development Manager
Asset Manager
Risk Manager
Compliance Officer
Real Estate Portfolio Manager
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