Board Resolution to Terminate Lease

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO TERMINATE LEASE AGREEMENT

**DATE:** {{date}}

**COMPANY REGISTRATION NUMBER:** {{company_registration_number}}

**RESOLVED, THAT:**

1. Termination of Lease Agreement

The Board of Directors (

the Board

) of {{company_name}} (the

Company

) hereby approves and authorises the termination of the Lease Agreement entered into between the Company and {{landlord_name}} (

the Landlord

) for the property located at {{property_address}} (the

Leased Premises

). The effective date of this termination shall be {{termination_date}}.

2. Reasons for Termination

The Board acknowledges and accepts the reasons for the termination of the Lease Agreement, which include [SQUARE BRACKET TO BE COMPLETED WITH REASONS, e.g., relocation of operations, cost efficiencies, expiration of business need]. These reasons have been thoroughly discussed and evaluated, and the Board is satisfied that the termination is in the best interests of the Company.

3. Authorisation of Company Representatives

{{authorised_representative_1_name}} (Identity Number: {{authorised_representative_1_id_number}}) and {{authorised_representative_2_name}} (Identity Number: {{authorised_representative_2_id_number}}), or any one of them, are hereby severally authorised to do all things necessary and sign all documents as may be required to give effect to the termination of the Lease Agreement, including but not limited to, negotiating and executing a mutual termination agreement with the Landlord, settling any outstanding obligations, and making arrangements for the vacating of the Leased Premises.

4. Financial Implications

The Board has reviewed the financial implications of terminating the Lease Agreement, including any potential penalties, outstanding rental payments, and costs associated with vacating the premises. The Company is satisfied that it has made adequate provisions for all such costs, amounting to approximately {{estimated_termination_cost}}.

5. Indemnity

The Company hereby indemnifies and holds harmless the authorised representatives against any claims, losses, damages, or expenses arising from their actions taken in good faith to implement this resolution.

CERTIFICATION

We, the undersigned, being all the Directors of {{company_name}}, hereby certify that the above resolution was duly passed at a meeting of the Board of Directors held on {{date}} at {{meeting_location}} and that a quorum was present and voting throughout the meeting. The resolution is in full force and effect as of the date first written above and has been entered into the minute book of the Company.

Signatures

___________________________

**{{director_1_name}}**

Director

___________________________

**{{director_2_name}}**

Director

[Add additional signature lines as needed for all directors]