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Termination clause (describing what will happen if the contract is ended early or cancelled by either of the parties, stating the rights of parties to terminate the lease, and their obligations) All kinds of personal property (e.g. cars and furniture) or real property (e.g. raw land, apartments, single family homes, and business property, which ...
A break clause is a term in a contract that allows early termination of the contract before the default end date. In accordance with English property law, such clauses are typical in tenancy agreements, so as to allow a tenancy to come to an end before the end date stated in the agreement. [1]
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
“Lease terminations are the clear priority at this time,” according to a Jan. 29 email from a senior GSA manager, a copy of which was provided to the AP by a GSA employee.
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