Commercial Lease Termination

By | December 20, 2012

A commercial lease termination is a formal document which is made between a commercial lessor and a commercial lessee so as to finalize the terms and conditions of the termination of the commercial lease. The commercial lease termination document specifies the date from which the lease shall be terminated and also gives the various clauses under which the termination has come into being. A commercial lease may be the lease of a commercial property, vehicle or equipment.  Given below is a sample of a commercial lease termination that can be used by any person for reference or help.

Sample Commercial Lease Termination

This commercial lease termination shall be brought into effect from 12th Nov 2012 and was commenced as on 12th Nov 2011.

The commercial lease was formed between the LESSOR and the LESSEE and was made in order to put a commercial vehicle owned by the LESSOR on lease to the LESSEE for 12 months.

The details of the parties are given as follows:

Details of LESSOR

Name of lessor: Darwin Lawson

Address of lessor: Q-56, second floor, Henry tower, London

Mobile number: 43094735350

Details of LESSEE

Name of LESSEE: Greg Billy

Address of LESSEE: 1-h, third floor, modern enclave, London

Contact number: 43874938749

Details of commercial vehicle put on lease:

Name: Chevrolet Lorry

Model number: 4/h

Color: brown

Lease payment per month: $350

Unpaid amount: $ 50

The following are the terms and conditions of the termination of the commercial lease:

  • The LESSEE must pay all the unsettled accounts and payments before the termination date of the commercial lease termination.
  • The LESSEE must return the vehicle one week before the termination date as per the contract signed one year back.
  • The LESSOR cannot force the LESSEE to return the vehicle before the due date.

Signatures:

Darwin Lawson

Greg Billy


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