TENANT — ACME Resources LLC
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Name: Michael Yuan
Title: General Manager
Date:
LANDLORD —
Name:
Title:
Date:
This Lease Termination Agreement (this “Agreement”) is made as of between , a (“Landlord”), and ACME Resources LLC, a TX LLC (“Tenant”). Landlord and Tenant are collectively the “Parties.”
The Parties entered into a lease dated (the “Lease”) for the premises located at , with a scheduled expiration date of . The Parties now mutually desire to terminate the Lease prior to its scheduled expiration on the terms set forth below.
Notwithstanding the scheduled expiration of the Lease, the Lease shall terminate, and the tenancy shall end, effective at 11:59 p.m. on (the “Termination Date”). From and after the Termination Date, neither Party shall have any further obligation under the Lease except as expressly provided in this Agreement.
On or before the Termination Date, Tenant shall vacate and surrender the premises to Landlord in broom-clean condition, free of Tenant’s personal property, ordinary wear and tear excepted, and shall deliver all keys, access cards, and other means of entry to Landlord.
Tenant shall pay all rent and other charges accrued under the Lease through the Termination Date. In consideration of the early termination, Tenant shall pay Landlord a termination fee of , due on or before the Termination Date.
Within the period prescribed by applicable law after the Termination Date and Tenant’s surrender of the premises, Landlord shall return to Tenant the sum of , representing the security deposit less any amounts properly applied under the Lease, together with an itemized statement of any deductions.
Effective upon Tenant’s surrender of the premises and payment of all amounts due under this Agreement, each Party releases and forever discharges the other from all claims, demands, and obligations arising under the Lease for the period after the Termination Date, including all future rent and obligations that would otherwise have accrued after the Termination Date. This release does not extend to obligations expressly created by this Agreement or to claims arising from a Party’s breach of this Agreement.
Each Party represents that it has not assigned or transferred any claim released under this Agreement and that it has the authority to enter into this Agreement.
This Agreement is governed by the laws of the State of TX. It constitutes the entire agreement between the Parties regarding the termination of the Lease and may be executed in counterparts, including by electronic signature.
Name: Michael Yuan
Title: General Manager
Date:
Name:
Title:
Date: