Termination in advance on the part of the Lessee Clause Samples
The 'Termination in advance on the part of the Lessee' clause allows the tenant to end the lease agreement before its scheduled expiration date. Typically, this clause outlines the conditions under which the lessee may exercise this right, such as providing a specified notice period or paying an early termination fee. Its core practical function is to give the lessee flexibility to exit the lease early if their circumstances change, while also protecting the lessor by setting clear procedures and potential compensation for early termination.
POPULAR SAMPLE Copied 3 times
Termination in advance on the part of the Lessee. In case the Lessee wishes to terminate in advance the present Agreement, it must give a prior notice in writing to the Lessor and to the Developer with six months in advance of the expected termination date, pursuant to the following terms and conditions: If the Lessee wishes to vacate the Real Estate at any moment before the completion of the lease term, the Lessee shall pay as a penalty for early termination a sum equal to one year rent, at the then current monthly rental fee. Additionally, the Developer will be entitled to retain the Deposit without any objection by the Lessee. Should the Lessee intend to vacate the Real Estate at any moment after the third year of contractual relationship, the Lessee will communicate in writing to the Lessor and to the Developer at least six months before the termination date. As sole compensation for such termination, the Developer will be entitled to retain the full amount of the Deposit.
Termination in advance on the part of the Lessee. In case the Lessee wishes to terminate in advance the present lease Agreement, it must give prior notice in writing to the Lessor and/or the Developer within six months in advance of the expected termination date. As indemnification for the termination in advance of the Agreement, Lessee shall pay the totality of the monthly rental fees owed in relation to the original term of the lease agreement, stipulated in article 3.01 of this Agreement. Additionally, the Developer shall be entitled to retain the total sum of the security deposit without any objection by the Lessee.