This office lease provision states that the landlord has the right to cancel the lease after the expiration of the first sixty (60) months of the initial term of the lease by giving the tenant at least one hundred and twenty (120) days prior notice of such cancellation.
New York Simple Cancellation Provisions for Landlord
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How to fill out Simple Cancellation Provisions For Landlord?
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FAQ
Therefore, a cancellation clause is an entry in an agreement that defines who can cancel the contract as well as why and how. A good and common contract cancellation clause example is in insurance contracts, as it details how a policyholder can cancel their contract with the insurer.
An early termination fee is a charge levied when a party wants to break the term of an agreement or long-term contract. They are stipulated in the contract or agreement itself, and provide an incentive for the party subject to them to abide by the agreement.
An "Early Termination Clause" outlines all the conditions that tenants need to meet before breaking a lease. Moreover, it will explain the consequences of ending the lease without a valid reason, which often comes in the form of penalties.
Early termination contract refers to the dissolution of a contract before the term of that contract has concluded. This will usually occur due to breach of contract, which involves a party failing to uphold the terms of the contract they signed.
For example, if the landlord wants the tenant to move out by November 1 and the rent is due on the first of each month, the landlord must give notice by September 30. In New York 5 Page 9 City, 30 days' notice is required, rather than one month.
Tenant may, upon 30 days' written notice to Landlord, terminate this lease provided that the Tenant pays a termination charge equal to 2 months' rent or the maximum allowable by law, whichever is less. Termination will be effective as of the last day of the calendar month following the end of the 30 day notice period.
There are specific conditions under which a landlord can move a tenant out of his property: 1) If the written lease between a landlord or tenant is up, 2) If a tenant withholds rent from the landlord, or 3) If a tenant has severely violated the lease.
Early termination contract refers to the dissolution of a contract before the term of that contract has concluded. This will usually occur due to breach of contract, which involves a party failing to uphold the terms of the contract they signed.
