Mutual Cancellation of Lease

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

MUTUAL CANCELLATION OF LEASE AGREEMENT

This Mutual Cancellation of Lease Agreement (hereinafter referred to as the “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, By and Between:

Parties

**Landlord:**

{{landlord_company_name}} (Registration Number: {{landlord_registration_number}}), a company duly incorporated and existing under the laws of {{country}}, with its principal place of business at {{landlord_address}} (hereinafter referred to as the “Landlord”).

**Tenant:**

{{tenant_company_name}} (Registration Number: {{tenant_registration_number}}), a company duly incorporated and existing under the laws of {{country}}, with its principal place of business at {{tenant_address}} (hereinafter referred to as the “Tenant”).

Collectively referred to as the “Parties”.

Recitals

WHEREAS, the Parties entered into a Lease Agreement (hereinafter referred to as the “Original Lease Agreement”) dated {{original_lease_start_date}} for the property located at {{property_address}} (hereinafter referred to as the “Premises”).

WHEREAS, the Parties now mutually desire to terminate and cancel the Original Lease Agreement prior to its scheduled termination date of {{original_lease_end_date}}.

Cancellation of Lease

The Parties hereby agree that the Original Lease Agreement, including all its terms, conditions, and covenants, shall be terminated and cancelled effective as of {{cancellation_effective_date}} (hereinafter referred to as the “Effective Date of Cancellation”).

Financial Obligations and Settlement

The Tenant shall pay to the Landlord an amount of {{settlement_amount}} {{currency}} by {{settlement_payment_due_date}} as full and final settlement of all outstanding financial obligations arising from the Original Lease Agreement up to the Effective Date of Cancellation. This amount includes, but is not limited to, pro-rata rent, utilities, and any agreed-upon early termination fees.

The Landlord acknowledges receipt of a security deposit in the amount of {{security_deposit_amount}} {{currency}}. Subject to any deductions for damages beyond reasonable wear and tear, or outstanding amounts owed by the Tenant, the remaining balance of the security deposit shall be refunded to the Tenant within {{days_for_security_deposit_refund}} days of the Effective Date of Cancellation.

Any outstanding amounts owed by the Tenant to the Landlord or by the Landlord to the Tenant under the Original Lease Agreement up to the Effective Date of Cancellation, that are not covered by the aforementioned settlement, shall remain due and payable.

Condition of Premises

The Tenant agrees to vacate the Premises and return possession to the Landlord in a clean and broom-swept condition, free of all personal belongings and rubbish, and in substantially the same condition as received, reasonable wear and tear excepted, by no later than {{vacating_date}}.

A joint inspection of the Premises shall be conducted by both Parties on or before the vacating date. A 'Condition Report' shall be completed and signed by both Parties to document the state of the Premises upon handover.

Release and Discharge

Upon the Effective Date of Cancellation and the fulfillment of all terms and conditions of this Agreement, the Landlord and Tenant hereby mutually release and discharge each other from any and all claims, demands, actions, causes of action, liabilities, and obligations whatsoever, whether known or unknown, arising from or relating to the Original Lease Agreement, save for claims arising out of any breach of this Mutual Cancellation of Lease Agreement.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{country}}.

Entire Agreement

This Agreement constitutes the entire agreement between the Parties with respect to the cancellation of the Original Lease Agreement and supersedes all prior discussions, negotiations, and agreements, whether oral or written, relating thereto.

Signatures

IN WITNESS WHEREOF, the Parties have executed this Mutual Cancellation of Lease Agreement on the date first above written.

**For the Landlord:**

_________________________ Date: _________________________

Name: {{landlord_signatory_name}}

Capacity: {{landlord_signatory_capacity}}

**For the Tenant:**

_________________________ Date: _________________________

Name: {{tenant_signatory_name}}

Capacity: {{tenant_signatory_capacity}}