Example ContractsClausesexpiration or termination of this agreementVariants
Expiration or Termination of This Agreement
Expiration or Termination of This Agreement contract clause examples

Subject to Lessee Delay, the Lessee and Lessor may mutually discuss and agree to terminate this Agreement in the event the Lessor fails to obtain the Sanctioned Plan within 18 (eighteen) months from the date of execution of this Agreement or fails or is unable to handover the Demised Premises in the Handover Condition within 24 (twenty four) months from the date of execution of this Agreement or such mutually extended Timelines.

Subject to there being no delay attributable to Force Majeure or Lessee Delays, the Lessor shall endevaour to obtain the Sanctioned Plan within 120 (one hundred twenty) days from the date of execution of this Agreement. Subject to any delay attributable to Force Majeure or Lessee Delays, the Lessee agrees that the Lessor’s obligation to develop the Demised Premises will commence on receipt of the Sanctioned Plan. In the event the Sanctioned Plan is not obtained by the Lessor within 120 (one hundred twenty) days, the Lessor shall have a further period of 14 (fourteen) months to obtain the Sanctioned Plan. Further, Lessor shall endeavor to keep the Lessee notified of progress in relation to obtaining the Sanctioned Plan or delay in procuring the same by providing necessary documents including application made to the relevant Governmental Authority for approval of the building plan and other information and documents available with the Lessor, as may be submitted to the Governmental Authority, from time to time or upon request of the Lessee.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.