Board Resolution to Terminate Lease

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO TERMINATE LEASE

Passed by the Board of Directors of {{company_name}}

Date: {{date}}

Effective Date of Termination: {{termination_effective_date}}

WHEREAS

The Company entered into a Lease Agreement (hereinafter referred to as "the Agreement") with {{landlord_name}} for the premises located at {{property_address}} on {{lease_start_date}}.

The Board of Directors has reviewed the current business needs and financial standing of the Company.

It has been determined that the continued occupation of the aforementioned premises is no longer in the best interests of the Company.

RESOLVED, THAT

The Company hereby formally resolves to terminate the Lease Agreement with {{landlord_name}} for the premises located at {{property_address}}, in accordance with the terms and conditions outlined in the Agreement regarding early termination.

The Chief Executive Officer, {{ceo_name}}, or any other duly authorized director or officer of the Company, be and is hereby authorized to take all necessary steps to effectuate the termination of the Lease Agreement, including but not limited to, providing written notice to {{landlord_name}}, negotiating any settlement claims, and vacating the premises by {{vacating_date}}.

FURTHER RESOLVED, THAT

The Company shall ensure all outstanding obligations under the Lease Agreement, including rent, utilities, and any dilapidation repairs, are settled in full upon termination, as per the terms of the Agreement.

The Company Secretary is instructed to record this resolution in the minutes of the Board Meeting held on {{meeting_date}}.

CERTIFICATION

I, the undersigned, {{secretary_name}}, being the duly appointed Company 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 thereof, duly convened and held on {{meeting_date}}, at which a quorum was present and acting throughout, and that such resolution is in full force and effect as of the date hereof.

Signature Block

___________________________

{{secretary_name}}

Company Secretary

Date: {{date}}