Early Surrender Clause Samples
The Early Surrender clause allows a party, typically a tenant or lessee, to terminate an agreement before the originally agreed-upon end date. In practice, this clause outlines the conditions under which early termination is permitted, such as providing advance notice or paying a specified fee, and may detail any obligations that must be fulfilled before surrender is accepted. Its core function is to provide flexibility for parties who may need to exit a contract prematurely, while also protecting the other party from unexpected losses or disruptions.
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Early Surrender. Notwithstanding anything to the contrary in this Sixth Modification Agreement or the Lease, in the event Tenant surrenders the Third Additional Premises to Landlord in the Third Additional Premises Delivery Condition prior to the Third Additional Premises Expiration Date (the “Early Third Additional Premises Surrender Date”), the Third Additional Premises Expiration Date shall be amended to the Early Third Additional Premises Surrender Date, provided that in no event shall the Third Additional Premises Expiration Date occur prior to March 31, 2024.
Early Surrender. You may surrender the unused portion of your License Term at any time by completing the appropriate University form and paying $1,500 (the “Surrender Fee”). Exercising your surrender rights does not excuse you from your obligation to pay Fees which accrue through the date on which you check-out from your Unit (including without limitation room fees prorated daily through the date of your check-out).
Early Surrender. Notwithstanding any provision to the contrary contained in the Lease, as amended hereby, Landlord and Tenant hereby acknowledge and agree that, on or before August 31, 2019 (notwithstanding that such date occurs prior to the New Expiration Date, the "Surrender Date"), Tenant shall vacate and surrender and deliver possession of the Premises to Landlord in the condition described in Section 3 below. In the event Tenant does not timely vacate and surrender possession of the Premises on or before the Surrender Date in accordance with the terms hereof, then the terms and conditions of Article 16 of the Original Lease shall apply with respect thereto, provided, however, the Tenant indemnification obligations set forth in Article 16 of the Original Lease shall not be applicable during the first thirty (30) days following the Surrender Date. Accordingly, subject to the terms and conditions of this Section 2, during the period (the "Surrender Period") commencing on the day immediately following the Surrender Date and continuing through the New Expiration Date, the Lease, as amended hereby, shall remain in full force and effect; except that, (i) Tenant shall have surrendered the Premises and delivered possession of the Premises to Landlord in accordance with this Section 2 above as though the New Expiration Date had occurred on the Surrender Date, (ii) Tenant, its agents and representatives shall have no right to access, occupy, use and/or enter upon the Premises during the Surrender Period, and Tenant shall have no further responsibility, obligation or liability of any kind or nature whatsoever for the Premises, the condition thereof, the maintenance or repair thereof, or any act, occurrence or accident occurring on or about the Premises or emitting therefrom, (iii) in consideration for Landlord entering into this Fourth Amendment and providing for the early termination of the Lease, and notwithstanding Tenant's surrender of the Premises, the occupancy thereof by the New Tenant and/or the existence of the New Lease, Tenant shall remain liable for the payment of Base Rent and Tenant's Share of Direct Expenses as provided for in Section 4.1 below, but Tenant shall have no obligation for the payment of any other Rent or amounts owing under the Lease during the Surrender Period, including, without limitation, any after-hours HVAC charges or electricity costs, but Tenant shall continue to be responsible for late charges and interest on any late payment of Base Rent or T...
Early Surrender. Tenant shall have the right to surrender possession of the Portion of the Third Floor, the Additional Floor, or any entire floor within the Remainder which such entire floor shall be deemed the “Portion of the Leased Premises” for purposes of this Section 2.6, prior to the Lease Expiration Date applicable to such specified Portion of the Leased Premises by delivering written notice (“Surrender Notice”) to Landlord, specifying the surrendered Portion of the Leased Premises and the effective date of such surrender, no less than twenty (20) days prior to surrendering possession of such specified Portion of the Leased Premises to Landlord. If Tenant surrenders possession of a specified Portion of the Leased Premises prior to its applicable Lease Expiration Date in accordance with this Section, Tenant shall perform all obligations under Section 2.6(b) by the date set forth in its Surrender Notice.