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PROFESSIONAL SERVICESTERMINATING TENANCYThree lease break clauses that allow for redevelopment BY DAVID N. Somewhat was new and exciting 40 years ago is now in need of rejuvenation. Old office towers,
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Three lease-break clauses refer to specific terms in a lease agreement that outline the conditions under which either party can terminate the lease before the agreed upon end date.
Both the landlord and the tenant are required to adhere to the terms outlined in the lease-break clauses.
To fill out three lease-break clauses, both parties must review the terms of the agreement and follow the steps outlined for termination.
The purpose of three lease-break clauses is to provide a clear understanding of how the lease can be terminated before the end date without causing disputes or misunderstandings.
The lease-break clauses must include details such as the notice period required for termination, any penalties or fees for early termination, and the process for returning the property.
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