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Termination Of Sublease Agreement
"I need a Termination of Sublease Agreement for our commercial warehouse space in Brussels, where we need to terminate early due to business relocation, with specific provisions for removing installed equipment and restoring the property to its original condition by March 2025."
1. Parties: Identification of all parties: Primary Landlord, Primary Tenant (Sublandlord), and Subtenant, including full legal names, addresses, and registration numbers if applicable
2. Background: Context of the original lease and sublease agreements, including dates, property description, and reason for termination
3. Definitions: Definitions of key terms used throughout the agreement, including 'Termination Date', 'Property', 'Original Lease', 'Sublease', etc.
4. Termination Agreement: Core agreement to terminate the sublease, specifying the effective termination date and mutual agreement of all parties
5. Property Inspection and Handover: Terms for final inspection, condition assessment, and return of the property
6. Financial Settlement: Settlement of all outstanding amounts, including rent, utilities, and other charges up to termination date
7. Security Deposit: Arrangements for the return of the security deposit, including timing and conditions
8. Release of Obligations: Mutual release of future obligations under the sublease agreement
9. Governing Law: Confirmation that the agreement is governed by Belgian law and specification of applicable regional regulations
1. Utilities and Services: Used when there are specific arrangements needed for the transfer or termination of utility contracts and services
2. Repairs and Restoration: Include when specific repair or restoration work is required before property handover
3. Commercial Registration: Required for commercial properties where business registration at the address needs to be addressed
4. Keys and Access Devices: Include when there are specific arrangements for returning keys, access cards, or other access devices
5. Surviving Obligations: Used when certain obligations need to survive the termination
6. Third Party Consents: Include when primary landlord's or other third party's consent is required for termination
7. Insurance: Include when specific insurance arrangements need to be addressed
1. Schedule 1 - Property Inventory: Detailed inventory of the property condition and contents at termination
2. Schedule 2 - Financial Statement: Detailed breakdown of all financial settlements, including rent, deposits, and any deductions
3. Schedule 3 - Original Sublease: Copy of the original sublease agreement being terminated
4. Schedule 4 - Handover Protocol: Checklist and procedure for the physical handover of the property
5. Appendix A - Photographic Evidence: Photos documenting the condition of the property at termination
6. Appendix B - Utility Readings: Final readings of all relevant utility meters
Authors
Real Estate
Commercial Property
Retail
Office Space
Industrial
Hospitality
Residential Property
Co-working Spaces
Manufacturing
Warehousing
Professional Services
Legal
Real Estate
Facilities Management
Operations
Property Management
Corporate Services
Risk & Compliance
Administration
Contract Management
Asset Management
Property Manager
Real Estate Manager
Facility Manager
Legal Counsel
Corporate Lawyer
Lease Administrator
Asset Manager
Operations Director
Commercial Property Manager
Real Estate Director
Contract Manager
Business Operations Manager
Company Secretary
Risk Manager
Compliance Officer
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