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Lease Buyout Agreement
"Need a Lease Buyout Agreement for our retail space at 123 Orchard Road, Singapore, where we're terminating our 5-year lease early on March 1, 2025, with a buyout payment of SGD 50,000 to be paid in two installments."
1. Parties: Identification and details of all parties involved in the buyout
2. Background: Context of the existing lease and reasons for buyout
3. Definitions: Key terms used tHRoughout the agreement
4. Buyout Terms: Specific terms of the buyout including payment amount and timing
5. Release of Obligations: Mutual release of future lease obligations
6. Execution: Signing provisions and date of effect
1. Property Inspection: Condition assessment provisions (use when property handover is involved)
2. Security Deposit: Terms for return of security deposit (if applicable)
3. Outstanding Charges: Settlement of pending utilities/maintenance charges (if any)
4. Third Party Consents: Required when landlord/mortgagee approval is needed
1. Schedule 1 - Property Details: Detailed description of the leased property
2. Schedule 2 - Original Lease: Copy of the original lease agreement
3. Schedule 3 - Payment Schedule: Detailed breakdown of buyout payments (if installments involved)
4. Schedule 4 - Condition Report: Property condition assessment (if applicable)
Authors
Buyout Amount
Buyout Date
Completion Date
Existing Lease
Landlord
Lease Term
Outstanding Obligations
Premises
Property
Release Date
Security Deposit
Tenant
Termination Date
Handover Date
Original Lease Agreement
Permitted Use
Parties
Effective Date
Business Day
GST
Guarantor
Outstanding Charges
Property Condition Report
Settlement Sum
Buyout Terms
Payment Obligations
Release and Discharge
Property Handover
Security Deposit
Representations and Warranties
Condition of Premises
Outstanding Charges
Utilities and Services
Keys and Access
Third Party Consents
Stamp Duty
Costs and Expenses
Confidentiality
Entire Agreement
Severability
Governing Law
Dispute Resolution
Notices
Assignment
Force Majeure
Waiver
Further Assurance
Counterparts
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