Common use of EARLY TERMINATION OF THE AGREEMENT Clause in Contracts

EARLY TERMINATION OF THE AGREEMENT. (1) If a definite term is set for a lease, the relationship between the Landlord and the Tenant will cease to exist at the end of the term. If no definite term is set, the parties may terminate the agreement at any time. Thus, when entering into an agreement, the parties shall remember to reach an agreement on whether they may terminate the agreement during the term of the lease, so as to protect their own rights and interests. (2) Notwithstanding the agreement of the parties to forbid termination of the agreement, the parties may terminate the agreement if the circumstances for termination of the agreement set forth in Article 14 or 15 of this sample agreement occur because these are provisions of law. (3) If it is agreed in a lease agreement with a definite term that either party may terminate the agreement before the end of the term, the party terminating the agreement shall give an advance notice to the other party in accordance with Article 11 of this sample agreement.