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
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.