This is an agreement between a landlord and tenant that terminates a commercial lease
before the term expires. By entering into this agreement, the landlord agrees to release
the tenant from the remaining term of the lease, if any. In return, the tenant can be
required to pay compensation for the early release. This agreement can be used by
individuals or entities that want to terminate a commercial lease before the term expires.
TERMINATION OF COMMERCIAL LEASE
This Termination of Commercial Lease Agreement (“Agreement”) is hereby entered into on this
______ day of ______, _____ by and between ________________ (“Landlord”) and
______________ (“Tenant”).
RECITALS
WHEREAS, Landlord entered into an Agreement to Lease with Tenant dated the _____ day of
_______________, 201__ (“Lease”) for the structure located at
__________________________________ (“Premises”) [PROVIDE ADDRESS, INCLUDING
APARTMENT OR SUITE NUMBER, IF APPLICABLE];
WHEREAS, Tenant has been in possession of the Premises since on or about that date; and
WHEREAS, Tenant and Landlord wish to end their relationship and mutually agree to terminate
the Lease forthwith.
NOW THEREFORE, in consideration of the mutual covenants and recitals set forth herein,
Landlord and Tenant hereby acknowledge that the Lease in favor of Tenant is terminated
effective the ______ day of ________________, 201__ conditional upon the following terms
and conditions.
TERMS
1. The leased Premises being returned to Landlord in a good state of repair and condition in
accordance with paragraph _________ of the Lease; {Instruction: provide the paragraph
number or letter in the original lease where that Agreement had discussed Tenant's
obligation to return premises in good condition.}
2. Tenant agrees to indemnify and hold harmless Landlord after the termination of the Lease,
and, in addition, indemnify Landlord from any and all losses, costs, legal costs, fees,
expenses, demands, liabilities, penalties, suits, claims, actions, damages, of any nature or
kind whatsoever which may be made or brought against the Landlord by any party, either
directly or indirectly arising from any liability that the Tenant may have with respect to
any matter related to its use of the leased premises.
3. The parties acknowledge and agree that a facsimile signature from any party executing
this Agreement shall be binding upon the party. The parties acknowledge further that this
Agreement may be executed in any number of counterparts, each of which shall be
deemed to be an original and all of which shall constitute one instrument.
4. Landlord agrees to release Tenant from any other obligations of the Lease without Tenant
owing any penalty or other payment, other than as specified in this Agreement.
OR
In exchange for Landlord releasing Tenant from its obligations under the Lease, Tenant
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agrees to __________________________________________. {Instruction: Choose one
of the above 2 options, and delete or cross out the other.}
{Instruction: If Tenant will be paying some compensation to Landlord for being allowed
out of the lease, provide SPECIFIC details, in the space above—in the second option.
For example, "make a one-time payment of $xxx, to be paid on or before [Date]." Or,
"make five consecutive monthly payments of $xxxx each, to be payable on the _[xx]__
day of each month, starting in March, 20xx."}
IN WITNESS THEREOF, the parties have executed this Agreement on the date first above
written.
(LANDLORD)
Per:
____________________________
Name: _______________________
Title: ________________________
I have authority to bind the Company.
Or if Landlord is an individual
____________________________ ____________________________
Witness: Landlord
____________________________ ____________________________
Witness: Tenant
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