10
PLAYBOOK TEMPLATES
Office Lease
An Office Lease establishes tenancy rights and obligations for commercial premises. This playbook analyzes rent structures, maintenance responsibilities, and default remedies.
Termination and Exit
Negotiation strategy
Ensure that termination clauses are clear and enforceable, with specific notice periods and restoration obligations to protect property interests.
Negotiate for reasonable notice periods and restoration obligations to avoid excessive costs and ensure a smooth transition.
Essential elements
1
Termination Rights
Defines conditions for ending the agreement.
2
Notice Requirements
Specifies how and when notices are given.
3
Restoration Obligations
Details property condition upon exit.
Action framework
ACCEPT
Propose edits if notice periods are too short or restoration obligations are unclear.
EDIT
Reject if the clause imposes unreasonable restoration costs or lacks mutual termination rights.
ADD
Add language for orderly exit and cooperation between parties.
PRO TIP
Always ensure that termination clauses include clear notice requirements and restoration obligations to prevent disputes.
Example clauses
FAVORABLE
Preferred Termination Rights
"The Agreement may be terminated by either party upon providing thirty (30) days written notice to the other party. In the event of a material breach by either party, the non-breaching party may terminate the Agreement immediately upon written notice to the breaching party."
NEUTRAL
Orderly Exit Process
"In the event of termination, both parties agree to cooperate in good faith to ensure an orderly transition of the property. This includes, but is not limited to, the transfer of keys, security codes, and any relevant documentation related to the property management."
UNFAVORABLE
Excessive Restoration Costs
"Upon termination, the Tenant shall restore the property to a condition better than its original state, including all renovations and upgrades."
Fallbacks
High-Risk Projects
In high-risk projects, ensure termination clauses allow for immediate exit to mitigate potential losses.
Short-Term Leases
For short-term leases, negotiate shorter notice periods to allow flexibility in exiting the agreement.
Commercial Properties
In commercial properties, ensure restoration obligations are clearly defined to avoid disputes over property condition.
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