Surrender of lease - LSE 14

Surrender of lease.

Sample

"A The Landlord leased the Premises to the Tenant for the Term, subject to the terms and conditions contained in the Lease.

B The Tenant wishes to terminate the Lease and to surrender and release the Premises to the Landlord on and from the Surrender Date.

C The Landlord has agreed to accept that surrender and release on the terms and conditions contained in this deed.

2 CONDITIONS PRECEDENT

The provisions of this deed (except this clause 2) are subject to and conditional upon:-

2.1 "NewTenantNameandACN" (New Tenant) executing a new lease (New Lease) for the Premises on terms acceptable to the Landlord;

2.2 "NameofGuarantors" guaranteeing the obligations of the New Tenant under the New Lease arising before "FinalDateforGuarantee" ; and

2.3 the Tenant on or before the Surrender Date:-

2.3.1 paying all sums due to the Landlord described in clause 4; and

2.3.2 otherwise complying with every other obligation contained in the Lease applicable on the expiry or earlier termination of the Term.

This deed (except this clause 2) has no force or effect if these conditions precedent are not satisfied.

3 SURRENDER

On and from the Surrender Date the Tenant surrenders and reIeases the Premises and all its interest in the Premises to the Landlord for the remainder of the Term with the effect that the Term will merge with and be extinguished in the freehold of the Premises."