commercial lease termination agreement
while it is usually the tenant that pays the early termination fee, sometimes circumstances arise in which it is the landlord that wants to “buy its way out” of the lease early. if a tenant is paying a lease termination fee, the parties should explicitly state in the lease termination agreement when it must pay such a fee (i.e., when the early termination fee is executed, on the date the tenant vacates, or at some later date), and whether, upon receipt of the fee, the landlord otherwise waives all other payments that the tenant may owe under the lease.