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1. Parties: Identifies and defines the Landlord and Tenant (and any guarantors) who are parties to the surrender agreement
2. Background: Recitals explaining the existing lease arrangement and the parties' intention to surrender it
3. Definitions: Defines key terms used throughout the agreement, including 'Lease', 'Property', 'Surrender Date', and 'Surrender Premium' if applicable
4. Agreement to Surrender: Core provision documenting the tenant's surrender and landlord's acceptance of the lease
5. Surrender Date: Specifies the effective date of the surrender and requirements for completion
6. Financial Settlement: Details any surrender premium, rent apportionment, service charge reconciliation, and return of deposits
7. Condition of Property: Requirements for the condition in which the property must be returned, including reinstatement obligations
8. Mutual Release: Releases both parties from future obligations under the lease, subject to any specified exceptions
9. Warranties: Basic warranties about capacity to enter agreement and any sublettings/third party rights
10. Execution: Formal execution block for signing by all parties
1. Ongoing Obligations: Used when certain lease obligations survive the surrender (e.g., confidentiality, outstanding repairs)
2. Disputed Matters: Include when the surrender agreement also settles existing disputes between the parties
3. VAT Provisions: Required when there are VAT implications for the surrender, particularly in commercial property situations
4. Third Party Rights: Needed when addressing rights of guarantors or other third parties affected by the surrender
5. Insurance Claims: Include when there are ongoing insurance claims that need to be addressed
6. Break Premium Refund: Used when there's a need to address refund of any break premium paid under the original lease
7. Dilapidations Settlement: Include when the surrender includes settlement of dilapidations claims
1. Schedule 1 - The Property: Detailed description of the property being surrendered, including any plans
2. Schedule 2 - The Lease: Details of the original lease and any supplemental documents
3. Schedule 3 - Condition Schedule: Schedule documenting the condition of the property at surrender, often with photographs
4. Schedule 4 - Inventory: List of any fixtures, fittings or equipment included in the surrender
5. Schedule 5 - Outstanding Matters: List of any matters to be addressed post-surrender (if applicable)
6. Appendix A - Photographic Schedule: Photographs evidencing the condition of the property at surrender
7. Appendix B - Settlement Calculations: Detailed calculations of any financial settlements, including rent and service charge reconciliations
Surrender
Completion
Financial Settlement
Property Condition
Vacant Possession
Release and Waiver
Outstanding Obligations
Dilapidations
Service Charge Reconciliation
Insurance
VAT
Representations and Warranties
Third Party Rights
Confidentiality
Costs
Notices
Entire Agreement
Severance
Governing Law
Jurisdiction
Further Assurance
Assignment
Variations
Real Estate
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Manufacturing
Logistics
Banking and Financial Services
Professional Services
Legal
Real Estate
Facilities Management
Operations
Finance
Risk and Compliance
Property Management
Asset Management
Corporate Services
Administration
Property Manager
Real Estate Director
Facilities Manager
Legal Counsel
Commercial Property Lawyer
Asset Manager
Property Portfolio Manager
Leasing Manager
Operations Director
Chief Financial Officer
Real Estate Investment Manager
Company Secretary
Risk Manager
Commercial Director
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