The Termination Of Commercial Lease By Tenant document is essential for businesses operating in the Philippines who need to formally end their commercial lease agreement. This document is typically used when a business needs to vacate commercial premises before or at the end of their lease term, ensuring compliance with Philippine commercial property laws and the Civil Code. It serves as official documentation of the tenant's intention to terminate the lease, protecting both parties' interests by clearly stating the termination date, outlining the property handover process, addressing security deposit return, and documenting any outstanding obligations. The document becomes particularly important in the Philippine context where commercial property relationships are governed by both national legislation and local government regulations, requiring careful attention to notice periods and procedural requirements.
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1. Date and Parties: Identifies the date of the termination notice and the full legal names and addresses of both the tenant and landlord
2. Lease Reference: Specific details of the original lease agreement including date of execution, property address, and any relevant amendments
3. Notice of Termination: Clear statement of intent to terminate the lease, citing the specific termination clause being relied upon
4. Effective Date: Specification of the date when the termination will take effect, ensuring compliance with notice periods required under the lease
5. Property Vacation: Commitment to vacate the premises by the specified date and return it in the condition required by the lease
6. Outstanding Obligations: Statement regarding settlement of any outstanding rent, utilities, or other financial obligations
7. Security Deposit: Reference to the security deposit and process for its return
8. Closing Statements: Final arrangements for property inspection, key return, and forwarding address
9. Signature Block: Space for dated signatures of the tenant and acknowledgment section
1. Early Termination Fee: Include when the lease is being terminated before its natural end date and requires payment of an early termination fee
2. Force Majeure Declaration: Include when termination is due to circumstances beyond control (natural disasters, government orders, etc.)
3. Renovation/Alteration Restoration: Include when premises have been modified and specific restoration requirements apply
4. Assignment/Sublease Termination: Include when there are existing subleases or assignments that need to be addressed
5. Dispute Resolution: Include when there are ongoing disputes or specific requirements for resolving potential disputes
6. Business Permits Closure: Include when local business permits need to be formally closed or transferred
1. Schedule A - Property Inventory: Detailed list of landlord-owned fixtures and fittings and their condition
2. Schedule B - Outstanding Payments: Itemized list of any remaining payments or credits
3. Schedule C - Property Restoration Requirements: Specific requirements for returning the property to its original condition
4. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement for reference
5. Appendix 2 - Photographic Evidence: Current photographs of the property condition
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Business Owner
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Administrative Director
Regional Manager
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