Board Resolution to Terminate Lease

{{company_name}}

{{company_address}}

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

Board Resolution to Terminate Lease

Board Resolution to Terminate Lease

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO TERMINATE LEASE

Effective Date: {{date}}

BACKGROUND

WHEREAS, the Company, {{company_name}}, entered into a lease agreement (hereinafter referred to as "the Lease") with {{landlord_name}} (hereinafter referred to as "the Landlord") on {{lease_commencement_date}} for the premises located at {{leased_property_address}} (hereinafter referred to as "the Leased Premises") / for the equipment described as {{leased_equipment_description}} (hereinafter referred to as "the Leased Equipment");

WHEREAS, the Board of Directors deems it necessary and in the best interests of the Company to terminate the Lease for the following reasons: {{reasons_for_termination}}.

RESOLUTION

BE IT RESOLVED, that the Board of Directors of {{company_name}} hereby approves and authorises the termination of the Lease, effective {{termination_date}}.

BE IT FURTHER RESOLVED, that any director or officer of the Company be and hereby is authorised to execute any and all documents, agreements, and notices, and to take any and all actions necessary or appropriate to effectuate the termination of the Lease, including but not limited to, providing written notice to the Landlord in accordance with the terms of the Lease, negotiating and executing a surrender agreement, and making any final payments or arrangements required for the termination.

BE IT FURTHER RESOLVED, that the appropriate officers of the Company are hereby authorised and directed to take all necessary steps to ensure a smooth transition and vacation of the Leased Premises / return of the Leased Equipment, including but not limited to, removal of company property, cessation of utilities, and any required repairs or restoration in accordance with the Lease terms.

AUTHORISATION OF OFFICERS

The following officers are specifically authorised to act on behalf of the Company in connection with the termination of the Lease:

1. {{authorised_officer_1_name}}, {{authorised_officer_1_title}}

2. {{authorised_officer_2_name}}, {{authorised_officer_2_title}}

These officers are granted full power and authority to take all actions necessary, desirable, or appropriate to implement this resolution, including but not limited to, negotiating termination terms, signing termination agreements, and conducting all related communications.

INDEMNIFICATION

The Company agrees to indemnify and hold harmless any director or officer acting in good faith pursuant to this resolution from any and all claims, liabilities, costs, and expenses (including reasonable legal fees) incurred in connection with such actions.

CERTIFICATION

I, the undersigned, Secretary of {{company_name}}, do hereby certify that the foregoing is a true and correct copy of a resolution duly adopted by the Board of Directors of the Company at a meeting held on {{meeting_date}}, at which a quorum was present and voting, and that such resolution is now in full force and effect.

SIGNATURE BLOCK

___________________________

{{secretary_name}}

Company Secretary

{{company_name}}

Date: {{signature_date}}