Common use of Break Option Clause in Contracts

Break Option. 21.9.1 The Tenant may terminate this lease at any time after the first year of the Term on giving not less than twelve (12) months’ prior written notice to the Landlord provided that on expiry of any notice given by the Tenant to the Landlord the Tenant has: (a) paid the rents reserved by, and other sums due under, this lease and any VAT on them up to the date of expiration of the notice; (b) vacated the Property and returned all keys to the Landlord and left the Property in a clean, tidy and broom swept condition and having removed all tenant’s fixtures, fittings and effects and made good any damage caused; PROVIDED ALWAYS that the Landlord may at its sole discretion waive any or all of the conditions above mentioned and upon the expiration of the said notice period given by the Tenant the Term will immediately cease and determine 21.9.2 The Landlord may terminate this lease at any time if the Tenant has ceased to use the Property for the Permitted use for a continuous period of three months (excluding as a result of damage by an Insured Risk) on giving to the Tenant not less than one month’s written notice 21.9.3 Any termination of the lease in accordance with clause 21.9.1 or 21.9.2 is without prejudice to the continuing liability of the Tenant for any sums due under this lease or for a breach of covenant or condition that occurs before expiry of the notice.

Appears in 3 contracts

Sources: Lease, Lease, Lease