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Termination Of Sublease Agreement
"I need a Termination of Sublease Agreement for my retail space in Causeway Bay, Hong Kong, with an early termination date of March 1, 2025, including specific provisions for the removal of shop fittings and settlement of outstanding utility bills."
1. Parties: Identification of the sublandlord and subtenant, including full legal names and addresses
2. Background: Details of the original sublease agreement including date, premises description, and reference to head lease if relevant
3. Definitions: Definitions of key terms used throughout the agreement, including 'Termination Date', 'Premises', 'Original Sublease', etc.
4. Agreement to Terminate: Clear statement of mutual agreement to terminate the sublease and the effective termination date
5. Vacation of Premises: Requirements for delivering vacant possession and the condition in which premises must be returned
6. Settlement of Accounts: Provisions for final settlement of rent, utilities, management fees, and other charges
7. Return of Security Deposit: Terms for the return of security deposit, including timing and any deductions
8. Mutual Release: Mutual release of future claims and obligations under the sublease
9. Governing Law: Specification that Hong Kong law governs the agreement
10. Execution: Signature blocks for all parties and witnessing requirements
1. Surviving Obligations: Used when certain obligations from the original sublease need to survive termination
2. Handover Inspection: Include when a formal inspection process is required before premises handover
3. Reinstatement Works: Required when specific restoration or repair works must be completed before termination
4. Third Party Consents: Include when head landlord's or other third party consent is required for termination
5. Outstanding Disputes: Used when there are existing disputes that need to be addressed as part of termination
6. Confidentiality: Include when parties wish to keep the termination terms confidential
7. Return of Keys and Access Devices: Required when there are specific provisions for returning access methods
8. Utilities Transfer: Include when utilities accounts need to be terminated or transferred
1. Schedule 1 - Original Sublease: Copy or key details of the original sublease agreement being terminated
2. Schedule 2 - Premises Details: Detailed description of the premises including floor plan if applicable
3. Schedule 3 - Settlement Statement: Detailed breakdown of final accounts, including any outstanding payments or refunds
4. Schedule 4 - Handover Checklist: List of items to be checked during premises handover
5. Schedule 5 - Reinstatement Requirements: Specific requirements for premises restoration if applicable
6. Appendix A - Photographic Evidence: Photos documenting the condition of premises at termination
7. Appendix B - Third Party Consents: Copies of any required third party consents to termination
Authors
Real Estate
Commercial Property
Retail
Office Space
Industrial
Hospitality
Manufacturing
Logistics
Technology
Professional Services
Healthcare
Education
Legal
Operations
Facilities Management
Real Estate
Finance
Risk Management
Property Administration
Asset Management
Compliance
Corporate Services
Property Manager
Facilities Manager
Real Estate Director
Legal Counsel
Corporate Lawyer
Operations Manager
Chief Operating Officer
Finance Director
Property Administrator
Leasing Manager
Asset Manager
Commercial Director
General Counsel
Company Secretary
Risk Manager
Contracts Manager
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