[{"data":1,"prerenderedAt":511},["ShallowReactive",2],{"document-board-resolution-to-terminate-lease-D77":3},{"document":4,"label":26,"preview":11,"thumb":27,"thumb600":28,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":29,"breadcrumb":33,"related":41,"customDescModule":179,"customdescription":6,"mdFm":180,"mdProseHtml":510},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":25},"BOARD RESOLUTION OF [YOUR COMPANY NAME] APPROVING TERMINATION OF LEASE DULY PASSED ON [DATE] TERMINATION OF LEASE WHEREAS, [YOUR COMPANY NAME] has no further need for certain space that it occupies as a tenant, be it: RESOLVED, to terminate as tenant a certain lease from [NAME] as landlord, said lease dated [DATE] for premises at [LOCATION]. The termination date shall be [DATE] with surrender of the premises by [YOUR COMPANY NAME] on or before said date.",null,"Board Resolution to Terminate Lease","1",28,"doc","https://templates.business-in-a-box.com/imgs/1000px/board-resolution-to-terminate-lease-D77.png","https://templates.business-in-a-box.com/imgs/250px/77.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#77.xml",{"title":6,"description":6},[16,19,22],{"label":17,"url":18},"Business Plan Kit","/templates/business-plan-kit/",{"label":20,"url":21},"Board of Directors","/templates/board-of-directors/",{"label":23,"url":24},"Board Resolutions","/templates/business-resolutions/","board resolution to terminate lease","Board Resolution to Terminate Lease Template","https://templates.business-in-a-box.com/imgs/400px/77.png","https://templates.business-in-a-box.com/imgs/600px/77.png",[30,16,19,22],{"label":31,"url":32},"Templates","/templates/",[34,35,38],{"label":31,"url":32},{"label":36,"url":37},"Legal Agreements","/templates/business-legal-agreements/",{"label":39,"url":40},"Real Estate & Leases","/templates/real-estate-and-leases/",[42,46,50,54,58,62,66,70,74,78,82,86,90,104,117,135,152,166],{"label":43,"url":44,"thumb":45,"extension":10},"Board Resolution to Terminate an Employee","/template/board-resolution-to-terminate-an-employee-D76","https://templates.business-in-a-box.com/imgs/250px/76.png",{"label":47,"url":48,"thumb":49,"extension":10},"Board Resolution to Terminate a Contract","/template/board-resolution-to-terminate-a-contract-D75","https://templates.business-in-a-box.com/imgs/250px/75.png",{"label":51,"url":52,"thumb":53,"extension":10},"Board Resolution to Lease Motor Vehicle","/template/board-resolution-to-lease-motor-vehicle-D69","https://templates.business-in-a-box.com/imgs/250px/69.png",{"label":55,"url":56,"thumb":57,"extension":10},"Board Resolution","/template/board-resolution-D78","https://templates.business-in-a-box.com/imgs/250px/78.png",{"label":59,"url":60,"thumb":61,"extension":10},"Board Resolution Approving Compensation for Board of Directors","/template/board-resolution-approving-compensation-for-board-of-directors-D39","https://templates.business-in-a-box.com/imgs/250px/39.png",{"label":63,"url":64,"thumb":65,"extension":10},"Board Resolution Appointing Officers","/template/board-resolution-appointing-officers-D33","https://templates.business-in-a-box.com/imgs/250px/33.png",{"label":67,"url":68,"thumb":69,"extension":10},"Board Resolution Appointing an Auditor","/template/board-resolution-appointing-an-auditor-D32","https://templates.business-in-a-box.com/imgs/250px/32.png",{"label":71,"url":72,"thumb":73,"extension":10},"Board Resolution Approving Amalgamation","/template/board-resolution-approving-amalgamation-D35","https://templates.business-in-a-box.com/imgs/250px/35.png",{"label":75,"url":76,"thumb":77,"extension":10},"Board Resolution Approving Budget","/template/board-resolution-approving-budget-D38","https://templates.business-in-a-box.com/imgs/250px/38.png",{"label":79,"url":80,"thumb":81,"extension":10},"Board Resolution Approving Negotiation","/template/board-resolution-approving-negotiation-D5150","https://templates.business-in-a-box.com/imgs/250px/5150.png",{"label":83,"url":84,"thumb":85,"extension":10},"Board Resolution Regarding Organization","/template/board-resolution-regarding-organization-D64","https://templates.business-in-a-box.com/imgs/250px/64.png",{"label":87,"url":88,"thumb":89,"extension":10},"Board Resolution to Commence Litigation","/template/board-resolution-to-commence-litigation-D67","https://templates.business-in-a-box.com/imgs/250px/67.png",{"description":91,"descriptionCustom":6,"label":92,"pages":8,"size":93,"extension":10,"preview":94,"thumb":95,"svgFrame":96,"seoMetadata":97,"parents":99,"keywords":98,"url":103},"[DATE] [YOUR NAME] [YOUR ADDRESS] [CITY, STATE, ZIP CODE] [YOUR EMAIL ADDRESS] [YOUR PHONE NUMBER] [LANDLORD'S NAME] [LANDLORD'S ADDRESS] [CITY, STATE, ZIP CODE] SUBJECT: NOTICE OF LEASE TERMINATION Dear [LANDLORD'S NAME], I am writing to formally notify you of my intent to terminate the lease agreement for the property located at [PROPERTY ADDRESS]. As per the terms of our lease agreement, I am providing you with the required notice period of [NUMBER OF DAYS, TYPICALLY 30 OR 60 DAYS], and my lease will be terminated on [TERMINATION DATE], which is [DATE NOTICE PERIOD ENDS, TYPICALLY 30 OR 60 DAYS FROM THE DATE OF THE LETTER]. The lease for the aforementioned property was initiated on [LEASE START DATE], and the initial lease term was set to expire on [ORIGINAL LEASE END DATE]. I am terminating the lease agreement as of the aforementioned Termination Date. I will ensure that the property is returned to you in the condition specified in our lease agreement","Lease Termination Letter",513,"https://templates.business-in-a-box.com/imgs/1000px/lease-termination-letter-D13724.png","https://templates.business-in-a-box.com/imgs/250px/13724.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13724.xml",{"title":98,"description":6},"lease termination letter",[100,102],{"label":36,"url":101},"business-legal-agreements",{"label":36,"url":101},"/template/lease-termination-letter-D13724",{"description":105,"descriptionCustom":6,"label":106,"pages":107,"size":93,"extension":10,"preview":108,"thumb":109,"svgFrame":110,"seoMetadata":111,"parents":113,"keywords":112,"url":116},"LANDLORD CONSENT TO SUBLEASE AGREEMENT This Landlord Consent to Sublease (the \"Agreement\") is effective [DATE], BETWEEN: [THE LANDLORD'S NAME], (the \"Landlord\") an individual with their main address located at: [YOUR COMPLETE ADDRESS] AND: [THE TENANT'S NAME], (the \"Tenant\") an individual with their main address located at: [COMPLETE ADDRESS] AND: [THE SUBTENANT'S NAME], (the \"Subtenant\") an individual with their main address located at: [COMPLETE ADDRESS] The Landlord, the Tenant and the Subtenant shall be collectively referred to as \"Parties\" and individually as \"Party.\" WHEREAS, The Landlord is the owner of the property in question, located at [ADDRESS OF THE PROPERTY] (the \"Property\"); WHEREAS, The Landlord as Lessor, and the Tenant, as Lessee, entered into a lease agreement covering the Property, a copy of which is attached as Exhibit A (the \"Lease\"); WHEREAS, The Tenant wishes to sublease its right and obligations as Lessee under the Lease to the Subtenant, and the Subtenant wishes to accept the Sublease of the Lease and assume these obligations on the terms set forth in this Agreement. NOW, THEREFORE THE PARTIES HERETO AGREE AS FOLLOWS: CONSENT TO SUBLEASE The Landlord hereby consents the Tenant's Sublease of the Lease to the Subtenant on the terms of the Sublease of the Lease, a copy of which is attached as Exhibit B (the \"Sublease\"). The Landlord's consent to the Sublease does not constitute consent to any subsequent subleases or assignments of the Property. The Tenant shall provide the Landlord with a fully executed copy of the Sublease promptly after it is signed. CONTINUING LIABILITY OF TENANT The Tenant acknowledges that: It remains primarily liable for, and is not released from, the performance of all terms of the Lease, notwithstanding the Landlord's consent to the Sublease or any breach committed by the Subtenant under the Sublease, and The Landlord may pursue any remedies available if the Tenant breaches the Lease, without regard to the performance by the Subtenant of the terms of the Sublease. The Tenant shall be responsible for the collection of all Rent due it from the Subtenant, and for the performance of all the other terms and conditions of the Sublease. CONTINUING EFFECTIVENESS OF LEASE All other terms of the Lease remain in full force and effect, including the prohibition against further assignments and subleases without the Landlord's express written consent. MONTHLY BASIC RENT The Rent due from the Subtenant under the Sublease is not greater than the Rent due from the Tenant under the Lease. The Subtenant must pay monthly Rent of [MONTHLY RENT DUE], payable by [METHOD OF PAYMENT] on the [DAY OF MONTH] of each month as of [START DATE] until [END DATE]. SUBLEASE SUBORDINATE TO THE LEASE The Sublease is subject and subordinate to the Lease. Neither the Tenant nor the Subtenant may do or permit anything to be done in connection with the Sublease or the Subtenant's occupancy of the Property that would violate the Lease. SUBLEASE AGREEMENT The Tenant and the Subtenant hereby represent that a true and complete copy of the Sublease is attached hereto and made a part hereof as Exhibit B, and the Tenant and the Subtenant agree that the Sublease shall not be modified without the Landlord's prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed. REPRESENTATIONS The Landlord hereby represents and warrants, as of the date hereof, that (i) the Landlord has full power and authority to enter into this Agreement, (ii) the Lease is in full force and effect, (iii) to the best of the Landlord's knowledge, the Tenant is not in default thereunder; and (iv) the Landlord has received no notice that it is in default under the Lease nor has the Landlord any knowledge of the existence of any condition or the occurrence of any event, which, if not acted on in a timely fashion, would result in the Tenant's default under the Lease. NO TRANSFER The Subtenant shall not further sublease the Sublet Premises, assign its interest as the Subtenant under the Sublease or otherwise transfer its interest in the Sublet Premises or the Sublease to any person or entity. NON-DISTURBANCE OF SUBTENANT","Landlord Consent To Sublease Agreement","7","https://templates.business-in-a-box.com/imgs/1000px/performance-form-2018-19-copy-D13019.png","https://templates.business-in-a-box.com/imgs/250px/13019.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13019.xml",{"title":112,"description":6},"landlord consent to sublease agreement",[114,115],{"label":36,"url":101},{"label":36,"url":101},"/template/landlord-consent-to-sublease-agreement-D13019",{"description":118,"descriptionCustom":6,"label":119,"pages":120,"size":121,"extension":10,"preview":122,"thumb":123,"svgFrame":124,"seoMetadata":125,"parents":126,"keywords":133,"url":134},"COMMERCIAL LEASE AGREEMENT This Lease Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Landlord\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [TENANT NAME] (the \"Tenant\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] DESCRIPTION OF PREMISES Landlord leases to Tenant the premises located at [address], [city], [state], and described more particularly as follows: [insert legal description]. GRANT OF LEASE Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit \"A\" attached hereto and by reference made a part hereof (the \"Leased Premises\"), together with, as part of the parcel, all improvements located thereon. LEASE TERM Total Term of Lease: The term of this Lease shall begin on the commencement date, as defined in Section b) of this Article 3, and shall terminate on [DATE]. Commencement Date: The \"Commencement Date\" shall mean the date on which the Tenant shall commence to conduct business on the Leased Premised, so long as such date is not in excess of [NUMBER] days subsequent to execution hereof. EXTENSIONS The parties hereto may elect to extend this Agreement upon such terms and conditions as may be agreed upon in writing and signed by the parties at the time of any such extension. DETERMINATION OF RENT The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual Rent: Annual rent for the term of the Lease shall be [AMOUNT], plus applicable sales tax. Payment of Yearly Rent: The annual rent shall be payable in advance in equal monthly installments of one-twelfth (1/12th) of the total yearly rent, which shall be [AMOUNT], on the first day of each and every calendar month during the term hereof, and prorata for the fractional portion of any month, except that on the first day of the calendar month immediately following the Commencement Date, the Tenant shall also pay to the Landlord rent at the said rate for any portion of the preceding calendar month included in the term of this Lease. Reference to yearly rent hereunder shall not be implied or construed to the effect that this Lease or the obligation to pay rent hereunder is from year to year, or for any term shorter than the existing Lease term, plus any extensions as may be agreed upon. A late fee in the amount of [AMOUNT] shall be assessed if payment is not postmarked or received by Landlord on or before the tenth day of each month. USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a [DESCRIBE], to be known as a [DESCRIBE]. Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any Sub-Tenant, assignee, or licensee, which or who shall use the property for any other use. RESTRICTIONS ON USE Tenant shall not use the demised premises in any manner that will increase risks covered by insurance on the demised premises and result in an increase in the rate of insurance or a cancellation of any insurance policy, even if such use may be in furtherance of Tenant's business purposes. Tenant shall not keep, use, or sell anything prohibited by any policy of fire insurance covering the demised premises, and shall comply with all requirements of the insurers applicable to the demised premises necessary to keep in force the fire and liability insurance. WASTE, NUISANCE, OR UNLAWFUL ACTIVITY Tenant shall not allow any waste or nuisance on the demised premises, or use or allow the demised premises to be used for any unlawful purpose. DELAY IN DELIVERING POSSESSION This lease agreement shall not be rendered void or voidable by the inability of Landlord to deliver possession to Tenant on the date set forth in Section 3. Landlord shall not be liable to Tenant for any loss or damage suffered by reason of such a delay; provided, however, that Landlord does deliver possession no later than [date]. In the event of a delay in delivering possession, the rent for the period of such delay will be deducted from the total rent due under this lease agreement. No extension of this lease agreement shall result from a delay in delivering possession. SECURITY DEPOSIT The Tenant has deposited with the Landlord the sum of [AMOUNT] as security for the full and faithful performance by the Tenant of all the terms of this lease required to be performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a bona fide sale of the property of which the leased premises are a part, the Landlord shall have the right to transfer the security to the purchaser to be held under the terms of this lease, and the Landlord shall be released from all liability for the return of such security to the Tenant. TAXES Property Taxes: The Tenant shall be liable for all taxes levied against any leasehold interest of the Tenant or personal property and trade fixtures owned or placed by the Tenant in the Leased Premises. Real Estate Taxes: During the continuance of this lease Landlord shall deliver to Tenant a copy of any real estate taxes and assessments against the Leased Property. From and after the Commencement Date, the Tenant shall pay to Landlord not later than [NUMBER] days after the day on which the same may become initially due, all real estate taxes and assessments applicable to the Leased Premises, together with any interest and penalties lawfully imposed thereon as a result of Tenant's late payment thereof, which shall be levied upon the Leased Premises during the term of this Lease. Contest of Taxes: The Tenant, at its own cost and expense, may, if it shall in good faith so desire, contest by appropriate proceedings the amount of any personal or real property tax. The Tenant may, if it shall so desire, endeavor at any time or times, by appropriate proceedings, to obtain a reduction in the assessed valuation of the Leased Premises for tax purposes. In any such event, if the Landlord agrees, at the request of the Tenant, to join with the Tenant at Tenant's expense in said proceedings and the Landlord agrees to sign and deliver such papers and instruments as may be necessary to prosecute such proceedings, the Tenant shall have the right to contest the amount of any such tax and the Tenant shall have the right to withhold payment of any such tax, if the statute under which the Tenant is contesting such tax so permits. Payment of Ordinary Assessments: The Tenant shall pay all assessments, ordinary and extraordinary, attributable to or against the Leased Premises not later than [NUMBER] days after the day on which the same became initially due. The Tenant may take the benefit of any law allowing assessments to be paid in installments and in such event the Tenant shall only be liable for such installments of assessments due during the term hereof. ","Commercial Lease Agreement","19",145,"https://templates.business-in-a-box.com/imgs/1000px/lease-agreement-D1179.png","https://templates.business-in-a-box.com/imgs/250px/1179.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1179.xml",{"title":6,"description":6},[127,130],{"label":128,"url":129},"Real Estate","real-estate-business",{"label":131,"url":132},"Business Checklists","business-checklists","lease agreement","/template/lease-agreement-D1179",{"description":136,"descriptionCustom":6,"label":137,"pages":138,"size":93,"extension":10,"preview":139,"thumb":140,"svgFrame":141,"seoMetadata":142,"parents":144,"keywords":143,"url":151},"BOARD MEETING MINUTES [YOUR COMPANY NAME] Organization Name: Date: Location: Time: Board Members Present: [LIST NAMES] Board Members Absent: [LIST NAMES] Guests: List names and affiliations if any. Meeting Called to Order by: [NAME AND TIME] Approval of Previous Meeting Minutes: Motion by: [NAME] Seconded by: [NAME] Outcome: [APPROVED/AMENDED] [Agenda Item Title] Presenter: [NAME] Discussion Summary: Summarize the key points of discussion, including any differing views or debates. Action Items: Detail specific tasks decided upon, who is responsible, and any deadlines. Decisions Made: Summarize any decisions made, including vote outcomes if applicable. [Agenda Item Title] Presenter: [NAME] Discussion Summary: Summarize the key points of discussion, including any differing views or debates. Action Items: Detail specific tasks decided upon, who is responsible, and any deadlines. Decisions Made: Summarize any decisions made, including vote outcomes if applicable. Financial Report: Presented by: Summary: ","Board Meeting Minutes","3","https://templates.business-in-a-box.com/imgs/1000px/board-meeting-minutes-D13904.png","https://templates.business-in-a-box.com/imgs/250px/13904.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13904.xml",{"title":143,"description":6},"board meeting minutes",[145,148],{"label":146,"url":147},"Sales & Marketing","sales-marketing",{"label":149,"url":150},"Market Analysis","market-analysis","/template/board-meeting-minutes-D13904",{"description":153,"descriptionCustom":6,"label":154,"pages":138,"size":93,"extension":10,"preview":155,"thumb":156,"svgFrame":157,"seoMetadata":158,"parents":160,"keywords":159,"url":165},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":159,"description":6},"non disclosure agreement nda",[161,162],{"label":36,"url":101},{"label":163,"url":164},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":167,"descriptionCustom":6,"label":168,"pages":138,"size":93,"extension":10,"preview":169,"thumb":170,"svgFrame":171,"seoMetadata":172,"parents":174,"keywords":177,"url":178},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: LETTER OF INTENT-ACQUISITION OF BUSINESS Dear [CONTACT NAME]: This letter (\"Letter of Intent\") sets forth the basic preliminary terms between the Buyer or his nominee and yourselves regarding the purchase of the [SPECIFY] business (the \"Business\") carried on by yourselves. Except as specifically set forth herein, this Letter of Intent shall not constitute an agreement between the parties and no agreement shall be deemed to exist until execution of a definitive purchase agreement. It is proposed that Buyer will acquire certain assets of the Business which Buyer believes to be necessary to the future of the Business, including the warehouse in [CITY/STATE] in which [COMPANY NAME] the Company has invested [AMOUNT] in cash and which has been financed by a mortgage loan of approximately [AMOUNT] granted by the [SPECIFY COMPANY] [CITY/STATE]. Buyer understands that the said warehouse has no other charges or liabilities affecting it other than the said mortgage loan. Buyer may either purchase the warehouse outright or enter into a lease-purchase or instalment transfer of ownership which is satisfactory to both parties. The gross purchase price for the said warehouse will be [AMOUNT]. Buyer may purchase or lease barrels and other equipment currently owned by the Company which are necessary to operate the Business, on a cash or instalment basis agreeable to both parties. The specific assets to be purchased and the amounts to be paid by Buyer in connection with this transaction remain to be negotiated by the parties. This Letter of Intent also evidences the intentions of the parties with respect to the following agreements: Buyer will enter into a [NUMBER]-year employment agreement with [COMPANY NAME], providing for the Company will be responsible for the purchase of [SPECIFY] for Buyer. The agreement will contain the customary terms and conditions found in employment agreements in similar transactions and will provide for the usual non-competition and non-solicitation covenants to be entered into by the Company in favour of Buyer. It is expressly understood that if the contemplated transaction is consummated, the aggregate amount of commission paid or payable to yourselves (net of reasonable expenses acceptable to Buyer) in respect of all purchases of [SPECIFY] made through you from the date of this Letter of Intent to the date of closing, with the exception of commissions earned on the [NUMBER] truckloads of [SPECIFY] to be delivered to Buyer during the week of [DATE] to [DATE], will be applied against remuneration payable to the Company in the first year of his employment agreement. If the contemplated transaction is not consummated, all such commissions paid or payable will be treated as commissions. Buyer will enter into a [NUMBER]-year employment agreement with [EMPLOYEE NAME], providing for the payment of a gross base salary of [ANNUAL SALARY] per year, to be paid weekly, subject to annual review. [EMPLOYEE NAME] will be President of the Business and the employment agreement will provide for health benefits, automobile, expenses and bonus arrangements","Letter of Intent_Acquisition of Business","https://templates.business-in-a-box.com/imgs/1000px/letter-of-intent_acquisition-of-business-D5197.png","https://templates.business-in-a-box.com/imgs/250px/5197.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#5197.xml",{"title":173,"description":6},"letter of intent_acquisition of business",[175,176],{"label":36,"url":101},{"label":36,"url":101},"letter intent_acquisition business","/template/letter-of-intent_acquisition-of-business-D5197",false,{"seo":181,"reviewer":193,"legal_disclaimer":197,"quick_facts":198,"at_a_glance":200,"personas":204,"variants":229,"glossary":255,"clauses":288,"how_to_fill":334,"common_mistakes":370,"faqs":395,"industries":423,"comparisons":440,"diy_vs_lawyer":453,"jurisdictions":466,"related_template_ids_curated":487,"schema":497,"classification":498},{"meta_title":182,"meta_description":183,"primary_keyword":25,"secondary_keywords":184},"Board Resolution To Terminate Lease Template (Free Word)","Free board resolution to terminate lease template. Authorizes corporate action to exit a lease agreement. Used in 190+ countries. Free Word and PDF download.",[185,186,187,188,189,190,191,192],"board resolution lease termination","corporate resolution to terminate lease","board resolution template word","lease termination authorization","corporate board resolution lease","resolution to exit commercial lease","board resolution template free","terminate lease corporate resolution",{"name":194,"credential":195,"reviewed_date":196},"Bruno Goulet","CEO, Business in a Box","2026-05-02",true,{"difficulty":199,"legal_review_recommended":197,"signature_required":197,"notarization_required":179},"medium",{"what_it_is":201,"when_you_need_it":202,"whats_inside":203},"A Board Resolution to Terminate Lease is a formal corporate document in which a company's board of directors officially authorizes the termination of an existing lease agreement. This free Word download gives you a ready-to-edit template that captures the resolution date, the lease being terminated, the authorized signatories, and the effective termination date — exportable as PDF for delivery to landlords, legal counsel, and corporate records.\n","Use it whenever your corporation, LLC, or nonprofit needs to exit a commercial, office, or equipment lease and must demonstrate that the decision was formally approved by the governing board. Most commercial leases and many landlords require documented board authorization before accepting a termination notice.\n","Recitals identifying the original lease and parties, the formal resolution clause authorizing termination, designation of authorized officers to execute notices and negotiate exit terms, ratification of prior acts, and signature blocks for all participating directors.\n",[205,209,213,217,221,225],{"title":206,"use_case":207,"icon_asset_id":208},"Corporate officers and CFOs","Documenting board approval before issuing a lease termination notice to a landlord","persona-cfo",{"title":210,"use_case":211,"icon_asset_id":212},"Startup founders","Authorizing exit from an office lease when downsizing or pivoting to remote work","persona-startup-founder",{"title":214,"use_case":215,"icon_asset_id":216},"Corporate secretaries","Maintaining a complete and compliant minute book with all lease-related board actions","persona-corporate-secretary",{"title":218,"use_case":219,"icon_asset_id":220},"Small business owners","Satisfying a landlord's requirement for written board authorization before releasing a tenant","persona-small-business-owner",{"title":222,"use_case":223,"icon_asset_id":224},"Real estate and operations managers","Coordinating a multi-location portfolio exit with proper corporate authorization on file","persona-operations-director",{"title":226,"use_case":227,"icon_asset_id":228},"Legal and compliance teams","Ensuring the corporate record supports a lease termination in the event of a landlord dispute","persona-legal-counsel",[230,234,237,240,244,248,251],{"situation":231,"recommended_template":232,"slug":233},"Terminating a commercial office lease before its natural expiry","Board Resolution To Terminate Lease","board-resolution-to-terminate-lease-D77",{"situation":235,"recommended_template":236,"slug":233},"Entering into a new lease after terminating the old one","Board Resolution To Enter Into Lease",{"situation":238,"recommended_template":92,"slug":239},"Sending formal written notice of termination to the landlord","lease-termination-letter-D13724",{"situation":241,"recommended_template":242,"slug":243},"Negotiating a mutual release and surrender of the lease","Lease Surrender Agreement","agreement-to-lease-D1164",{"situation":245,"recommended_template":246,"slug":247},"Authorizing the CEO or officer to sign a termination agreement","Board Resolution To Authorize Officer","board-resolution-D78",{"situation":249,"recommended_template":250,"slug":247},"Closing a business and terminating all active leases","Board Resolution To Dissolve Corporation",{"situation":252,"recommended_template":253,"slug":254},"Assigning or subletting the lease instead of terminating it","Sublease Agreement","landlord-consent-to-sublease-agreement-D13019",[256,258,261,264,267,270,273,276,279,282,285],{"term":55,"definition":257},"A formal written record of a decision made by a company's board of directors, which serves as official authorization for a corporate action.",{"term":259,"definition":260},"Quorum","The minimum number of board members who must be present at a meeting for decisions made at that meeting to be legally valid.",{"term":262,"definition":263},"Recitals","The introductory clauses of a resolution that set out background facts — such as the existence and details of the lease being terminated.",{"term":265,"definition":266},"Authorized Officer","A director or officer formally designated by the board to sign documents and take specific actions on behalf of the corporation.",{"term":268,"definition":269},"Effective Date of Termination","The specific calendar date on which the lease is to end, as approved by the board and communicated to the landlord.",{"term":271,"definition":272},"Ratification","A clause in which the board formally approves and confirms actions already taken by officers on the corporation's behalf before the resolution was passed.",{"term":274,"definition":275},"Notice Period","The minimum advance warning — typically 30 to 90 days — required by the lease agreement before termination can take effect.",{"term":277,"definition":278},"Unanimous Written Consent","A mechanism allowing all board members to approve a resolution in writing without holding a formal meeting, valid when all directors sign.",{"term":280,"definition":281},"Lease Surrender","The consensual return of a leased premises to the landlord by the tenant before the lease's natural expiry date, typically documented in a surrender deed or agreement.",{"term":283,"definition":284},"Early Termination Clause","A provision in the original lease that permits the tenant to exit the agreement before its scheduled end date, usually subject to notice requirements and a penalty or break fee.",{"term":286,"definition":287},"Corporate Minute Book","The official record of all corporate resolutions, meeting minutes, and governance documents that a corporation is required to maintain under applicable corporate statutes.",[289,294,299,304,309,314,319,324,329],{"name":290,"plain_english":291,"sample_language":292,"common_mistake":293},"Corporate identification and meeting recitals","Opens the resolution by stating the full legal name of the corporation, the date and type of meeting (regular, special, or unanimous written consent), and confirmation that a quorum was present.","The undersigned, being all of the directors of [CORPORATION LEGAL NAME] (the 'Corporation'), a [STATE/PROVINCE] [ENTITY TYPE], hereby adopt the following resolution at a [duly called meeting / by unanimous written consent] held on [DATE].","Using the trade name or DBA instead of the corporation's registered legal name. If the names don't match, landlords and courts may question whether the resolution authorizes the correct entity.",{"name":295,"plain_english":296,"sample_language":297,"common_mistake":298},"Lease identification recital","Identifies the specific lease being terminated by referencing the original agreement date, the landlord's legal name, the leased premises address, and any amendments.","WHEREAS, the Corporation is a party to that certain Lease Agreement dated [DATE] (as amended by [AMENDMENT DATES], the 'Lease') with [LANDLORD LEGAL NAME] ('Landlord') for the premises located at [FULL ADDRESS] (the 'Premises').","Referencing only the original lease without listing amendments. If the lease was extended or modified, an incomplete reference can create a gap that the landlord exploits to challenge the termination.",{"name":300,"plain_english":301,"sample_language":302,"common_mistake":303},"Statement of purpose and authority","States the board's finding that terminating the lease is in the best interest of the corporation and that the board has the authority under the corporate bylaws to authorize this action.","WHEREAS, the Board of Directors has determined that it is in the best interests of the Corporation to terminate the Lease pursuant to [Section X of the Lease / the early termination right / mutual agreement with Landlord], effective [TERMINATION DATE].","Omitting the specific contractual or legal basis for termination. Stating 'the board decided to terminate' without citing the governing lease clause or statutory right weakens the resolution if the termination is later disputed.",{"name":305,"plain_english":306,"sample_language":307,"common_mistake":308},"Core resolution clause","The operative paragraph formally resolving that the lease is terminated and authorizing all steps necessary to carry out the termination.","RESOLVED, that the Corporation hereby authorizes and approves the termination of the Lease, effective [DATE], and that the Corporation shall take all actions and execute all documents necessary to effectuate such termination.","Using permissive language ('may terminate') instead of directive language ('is authorized and directed to terminate'). Permissive phrasing leaves ambiguity about whether the action is actually approved.",{"name":310,"plain_english":311,"sample_language":312,"common_mistake":313},"Designation of authorized officer","Names the specific officer or officers authorized to sign the termination notice, negotiate surrender terms, and execute any related agreements on behalf of the corporation.","RESOLVED FURTHER, that [OFFICER TITLE — e.g., President, CEO, or CFO] of the Corporation, [NAME], is hereby authorized and directed to execute and deliver on behalf of the Corporation the termination notice and any related documents required to surrender the Premises to Landlord.","Authorizing 'any officer' without naming a specific title. Landlords and counterparties frequently require confirmation that the signatory holds an identified position — a generic authorization creates friction at closing.",{"name":315,"plain_english":316,"sample_language":317,"common_mistake":318},"Negotiation and settlement authority","Grants the authorized officer the power to negotiate exit terms with the landlord, including early termination fees, security deposit disposition, and reinstatement obligations.","RESOLVED FURTHER, that the authorized officer is hereby authorized to negotiate, agree upon, and execute on behalf of the Corporation any settlement, surrender agreement, or related document in connection with the termination of the Lease, including any payment of early termination fees not to exceed $[AMOUNT].","Granting open-ended settlement authority with no dollar cap. A board resolution authorizing unlimited financial commitments exposes the corporation to liability beyond what directors intended to approve.",{"name":320,"plain_english":321,"sample_language":322,"common_mistake":323},"Ratification of prior acts","Confirms and approves any actions already taken by officers or employees in connection with the lease termination before the resolution was formally passed.","RESOLVED FURTHER, that any and all actions previously taken by the officers of the Corporation in connection with the termination of the Lease are hereby ratified, confirmed, and approved as the acts of the Corporation.","Omitting the ratification clause when officers have already issued informal termination notices or correspondence. Without it, pre-resolution acts lack formal corporate authorization and may be challenged.",{"name":325,"plain_english":326,"sample_language":327,"common_mistake":328},"Filing and notice authority","Authorizes the designated officer to deliver the termination notice to the landlord, file required notices with government agencies, and update the corporation's records.","RESOLVED FURTHER, that the authorized officer is hereby authorized and directed to deliver written notice of termination to Landlord in accordance with the notice provisions of the Lease, and to take any other administrative steps required to complete the termination.","Failing to cross-reference the lease's notice requirements. If the lease requires certified mail to a specific address and the board resolution directs email, the notice may be legally deficient.",{"name":330,"plain_english":331,"sample_language":332,"common_mistake":333},"Certification and signature block","Confirms that the resolution was duly adopted by the required number of directors, states the adoption date, and provides signature lines for each participating director.","IN WITNESS WHEREOF, the undersigned directors of [CORPORATION LEGAL NAME], constituting [all of the directors / a quorum of the Board], have executed this Resolution effective as of [DATE]. [DIRECTOR NAME], Director ___________________ [DIRECTOR NAME], Director ___________________","Collecting only one signature when the bylaws require a quorum or unanimous consent. A resolution signed by fewer directors than required is void and will not satisfy a landlord's or court's authorization requirement.",[335,340,345,350,355,360,365],{"step":336,"title":337,"description":338,"tip":339},1,"Confirm corporate authority and bylaw requirements","Review your corporation's bylaws to determine whether lease terminations require a board resolution, a simple majority vote, or unanimous consent. Note the quorum requirement and whether a meeting must be held or written consent is permitted.","Some bylaws delegate lease termination authority below a specified annual rental value to a single officer — check before convening the board unnecessarily.",{"step":341,"title":342,"description":343,"tip":344},2,"Identify the lease being terminated with precision","Gather the original lease agreement, all amendments, extension letters, and side letters. Record the exact agreement date, landlord's registered legal name, premises address, and lease term end date.","Pull the landlord's name from the most recent amendment or assignment notice — the original landlord may have sold the property, and using the wrong name invalidates the notice.",{"step":346,"title":347,"description":348,"tip":349},3,"Determine the legal basis and effective date","Identify whether you are terminating under an early termination clause, by mutual agreement, due to a landlord default, or at natural lease expiry. Calculate the effective termination date based on the required notice period in the lease.","Calendar the notice deadline carefully — most commercial leases require 60 to 90 days' advance written notice, and missing it by one day can extend your liability by a full notice period.",{"step":351,"title":352,"description":353,"tip":354},4,"Name the authorized officer and scope their authority","Enter the full name and title of the officer authorized to sign and deliver the termination notice, negotiate surrender terms, and execute any exit documentation. If settlement payments may be required, specify a dollar cap in the negotiation authority clause.","Use the officer's exact title as it appears in the corporate register — discrepancies between the resolution and public records can prompt landlords to demand additional proof of authority.",{"step":356,"title":357,"description":358,"tip":359},5,"Include a ratification clause if notices have already been sent","If any officer has already communicated the intent to terminate to the landlord — by email, letter, or in person — include the ratification clause and reference those communications by date.","Ask the officer to forward all prior correspondence so the ratification clause can reference specific dates. A vague 'all prior acts' clause is weaker than one citing a specific letter dated [DATE].",{"step":361,"title":362,"description":363,"tip":364},6,"Circulate for director signatures and record the adoption date","Obtain signatures from the required number of directors — all directors for unanimous written consent, or a quorum for a meeting-based resolution. Record the date each director signs, not the date you started drafting.","If directors are in different time zones, use a digital signature platform and set a signature deadline. The resolution's effective date should be the date the last required signature is obtained.",{"step":366,"title":367,"description":368,"tip":369},7,"File the resolution in the corporate minute book and deliver the notice","Add the executed resolution to the corporate minute book alongside any related board minutes. Then have the authorized officer deliver the termination notice to the landlord strictly in accordance with the lease's notice requirements — certified mail, overnight courier, or email, as specified.","Retain proof of delivery — return receipt, courier tracking confirmation, or email read receipt — in the same file as the resolution. You will need it if the landlord disputes receipt of the notice.",[371,375,379,383,387,391],{"mistake":372,"why_it_matters":373,"fix":374},"Using the company's trade name instead of its registered legal name","Landlords and courts rely on the entity name to confirm the resolution authorizes action by the correct legal person. A mismatch between the resolution and the lease can allow a landlord to reject the termination as unauthorized.","Cross-reference the exact registered name in your corporate charter or certificate of incorporation and copy it verbatim into both the resolution and the termination notice.",{"mistake":376,"why_it_matters":377,"fix":378},"Failing to reference lease amendments in the recitals","If the lease was extended or modified and the resolution only identifies the original agreement, the landlord can argue the board never authorized termination of the amended lease — which is the version still in force.","List every amendment, extension letter, and side letter by date in the recitals using the phrase 'as amended by [DATE OF AMENDMENT]' so the resolution covers the full current agreement.",{"mistake":380,"why_it_matters":381,"fix":382},"Missing the contractual notice period before setting the termination date","Setting an effective termination date shorter than the lease's required notice period means the termination is legally premature — the tenant remains liable for rent until a valid notice period runs its course.","Read the lease's notice clause, calculate the earliest valid termination date from the date the notice will be delivered, and enter that date in both the resolution and the notice letter.",{"mistake":384,"why_it_matters":385,"fix":386},"Authorizing an officer by title only without confirming the current incumbent","If the person who held the title when the resolution was drafted has since resigned or been replaced, the authority may be contested — particularly if the new incumbent's appointment was not yet formally recorded.","Include both the officer's title and their full legal name in the authorization clause, and confirm their current appointment is reflected in the corporate records before the resolution is signed.",{"mistake":388,"why_it_matters":389,"fix":390},"Omitting a dollar cap on settlement authority","A resolution that authorizes an officer to settle on 'such terms as they deem appropriate' can expose the corporation to an early termination payment far beyond what the board intended to approve.","Insert a specific maximum dollar amount for any early termination fee, penalty, or settlement payment the officer is permitted to agree to without returning to the board for further approval.",{"mistake":392,"why_it_matters":393,"fix":394},"Signing with fewer directors than the bylaws require","A resolution that lacks the required number of authorized signatures — whether a quorum or unanimous consent — is void. Landlords or their lawyers will spot the deficiency and refuse to accept the termination.","Check the bylaws before circulating the resolution, confirm the number of signatures required, and do not deliver the termination notice until every required signature is on the document.",[396,399,402,405,408,411,414,417,420],{"question":397,"answer":398},"What is a board resolution to terminate a lease?","A board resolution to terminate a lease is a formal written document in which a company's board of directors officially authorizes the corporation to exit an existing lease agreement. It records the board's decision, identifies the lease and the landlord, names the officer authorized to act, and sets the effective termination date. The resolution becomes part of the corporate minute book and serves as proof of authority when delivering the termination notice to the landlord.\n",{"question":400,"answer":401},"When does a company need a board resolution to terminate a lease?","A board resolution is required whenever a corporation's bylaws or governing documents require board approval for major contractual actions, or when the landlord or applicable law requires written evidence of corporate authorization before accepting a termination notice. It is also best practice for any commercial lease termination, regardless of whether it is strictly required, because it creates a clean audit trail and protects directors from claims that the termination was unauthorized.\n",{"question":403,"answer":404},"Can a sole director or officer terminate a lease without a board resolution?","In a single-director company, the director may have authority to act unilaterally under the bylaws — but a written resolution is still recommended because it creates a dated, signed record in the minute book. For corporations with multiple directors, the bylaws typically require a quorum vote or unanimous written consent. Acting without a resolution exposes the officer to personal liability and may allow the landlord to reject the termination as unauthorized.\n",{"question":406,"answer":407},"Does the board resolution replace the lease termination notice?","No. The board resolution authorizes the action internally — it is a corporate governance document. The lease termination notice is the external document delivered to the landlord to formally exercise the right to exit. Both are required: the resolution proves authorization; the notice triggers the legal termination. The authorized officer named in the resolution must sign and deliver the notice in compliance with the lease's notice requirements.\n",{"question":409,"answer":410},"What happens if the termination notice is sent before the board resolution is passed?","In most jurisdictions, an unauthorized act by an officer can be ratified retroactively by the board — which is why the resolution template includes a ratification clause. However, relying on retroactive ratification is risky: if the board later refuses to ratify, the officer may face personal liability and the termination may be void. Best practice is always to pass the resolution before or simultaneously with delivering the notice.\n",{"question":412,"answer":413},"How many directors need to sign a board resolution to terminate a lease?","The required number depends entirely on the corporation's bylaws and applicable corporate statute. Most bylaws require either a majority of the board at a duly called meeting (quorum-based approval) or signatures from all directors for a unanimous written consent resolution. Check your bylaws before circulating the document — a resolution signed by fewer directors than required is void.\n",{"question":415,"answer":416},"Does a board resolution to terminate a lease need to be notarized?","Notarization is not required for a board resolution to be valid in most jurisdictions. However, some landlords, lenders, or government agencies may request a notarized or certified copy as part of their approval process. If notarization is requested, the corporate secretary typically certifies the resolution under a separate officer's certificate rather than notarizing it directly.\n",{"question":418,"answer":419},"What is the difference between a board resolution and a lease termination agreement?","A board resolution is an internal corporate governance document that authorizes the company to take action. A lease termination agreement is a bilateral contract signed by both the tenant and the landlord that documents the agreed terms for ending the lease — including any early termination fees, the date of surrender, security deposit handling, and reinstatement obligations. The board resolution typically authorizes the officer to both deliver the termination notice and execute the termination agreement with the landlord.\n",{"question":421,"answer":422},"Can this resolution be used for equipment or vehicle leases as well as real property?","Yes. The template structure applies to any lease a corporation wants to exit — commercial real property, office space, equipment, vehicles, or technology hardware. The key fields to adjust are the lease identification recital (which should describe the leased asset accurately) and the authorized officer's scope (which may need to include return or decommissioning instructions for physical assets).\n",[424,428,432,436],{"industry":425,"icon_asset_id":426,"specifics":427},"Technology / SaaS","industry-saas","Remote-first pivots and office consolidations drive frequent early lease exits; board resolutions are needed to authorize termination of co-working, data center, and office leases simultaneously.",{"industry":429,"icon_asset_id":430,"specifics":431},"Retail","industry-retail","Store closures require documented board authority to trigger early termination clauses, negotiate surrender of fit-out assets, and satisfy franchisor or lender notification requirements.",{"industry":433,"icon_asset_id":434,"specifics":435},"Professional Services","industry-professional-services","Firm mergers, practice group spin-offs, and office downsizing regularly require board-level authorization to exit multi-year office leases and assign or surrender the balance of the term.",{"industry":437,"icon_asset_id":438,"specifics":439},"Healthcare","industry-healthtech","Clinic relocations and practice acquisitions require board resolutions that also address regulatory notification obligations to licensing bodies when a leased premises is vacated.",[441,444,447,450],{"vs":92,"vs_template_id":442,"summary":443},"lease-termination-letter-D13259","A lease termination letter is the external notice delivered to the landlord to formally invoke the right to exit the lease. A board resolution is the internal corporate document that authorizes an officer to sign and send that letter. Both are needed: the resolution proves authority; the letter triggers the legal termination. Using only a letter without a resolution leaves the corporation without a documented governance record.",{"vs":236,"vs_template_id":445,"summary":446},"D{BOARD_RESOLUTION_ENTER_LEASE_ID}","A board resolution to enter into a lease authorizes the corporation to sign a new lease agreement. A board resolution to terminate a lease authorizes the corporation to exit an existing one. The structure is similar, but the operative clauses differ — entry resolutions focus on approving lease terms and authorizing execution, while termination resolutions focus on exit rights, notice periods, and settlement authority.",{"vs":253,"vs_template_id":448,"summary":449},"sublease-agreement-D12772","A sublease agreement assigns the tenant's rights under an existing lease to a subtenant rather than exiting the lease entirely. The original tenant typically remains liable to the landlord under the head lease. A board resolution to terminate exits the lease completely, eliminating ongoing liability. Use a sublease when you cannot exit cleanly; use a termination resolution when you can.",{"vs":250,"vs_template_id":451,"summary":452},"D{BOARD_RESOLUTION_DISSOLVE_ID}","A board resolution to dissolve a corporation is a broad winding-up instrument that covers all corporate obligations, including leases. A board resolution to terminate a specific lease is a narrower, standalone authorization used when the corporation is continuing to operate but needs to exit one particular lease. Use the dissolution resolution only when the entire entity is being wound down.",{"use_template":454,"template_plus_review":458,"custom_drafted":462},{"best_for":455,"cost":456,"time":457},"Corporations with straightforward lease exits under an existing early termination clause, minimal settlement exposure, and no landlord dispute","Free","20–30 minutes",{"best_for":459,"cost":460,"time":461},"Multi-year commercial leases with significant early termination fees, complex surrender obligations, or a landlord likely to dispute the exit","$300–$700","1–3 days",{"best_for":463,"cost":464,"time":465},"Large corporate tenants, regulated industries, cross-border leases, or situations where the landlord is threatening litigation over the termination","$1,000–$3,500+","1–2 weeks",[467,472,477,482],{"code":468,"name":469,"flag_asset_id":470,"note":471},"us","United States","flag-us","Corporate authority to execute and terminate leases is governed by each state's business corporation act and the corporation's own bylaws. In most states, a board resolution is not legally mandated but is universally expected by commercial landlords. California, New York, and Delaware require that the corporate record reflect board approval for major contractual commitments. Early termination penalties and the enforceability of termination clauses vary by state — consult local counsel for leases in jurisdictions with strong tenant-protection statutes.",{"code":473,"name":474,"flag_asset_id":475,"note":476},"ca","Canada","flag-ca","Under the Canada Business Corporations Act and provincial equivalents, the board of directors has authority over the management of corporate property, including leases. Commercial lease termination requirements are governed provincially — Ontario, BC, and Alberta each have distinct rules on notice periods and surrender obligations. In Quebec, lease documents may require French versions under the Charter of the French Language. Unanimous written consent resolutions are widely used for closely held corporations.",{"code":478,"name":479,"flag_asset_id":480,"note":481},"uk","United Kingdom","flag-uk","Under the Companies Act 2006, the board of directors manages the company's affairs, and a board resolution is standard practice to authorize lease exits. Commercial leases in England and Wales are subject to the Landlord and Tenant Act 1954, which grants tenants statutory renewal rights — formally contracting out of these rights or exercising a break clause requires strict procedural compliance. In Scotland, lease law is governed separately and surrender must comply with distinct notice formalities.",{"code":483,"name":484,"flag_asset_id":485,"note":486},"eu","European Union","flag-eu","Corporate authorization requirements for lease terminations vary significantly across EU member states. In Germany, the Geschäftsführer (managing director) typically has authority to act under the GmbH articles, but a supervisory board resolution may be required for material lease exits. France requires board-level authorization for significant commitments under the company's articles of association. GDPR considerations arise when vacating premises that process personal data — data handling obligations do not terminate automatically with the lease.",[239,254,488,247,489,490,491,492,493,494,495,496],"lease-agreement-D1179","board-meeting-minutes-D13904","non-disclosure-agreement-nda-D12692","letter-of-intent_acquisition-of-business-D5197","notice-of-intent-to-vacate-premises-D13230","corporate-governance-policy-D13943","late-appointment-policy-D13426","general-release-and-settlement-agreement-D12554","property-management-agreement-D1196",{"emit_how_to":197,"emit_defined_term":197},{"primary_folder":101,"secondary_folder":499,"document_type":500,"industry":501,"business_stage":502,"tags":503,"confidence":509},"real-estate-and-leases","resolution","general","all-stages",[504,505,506,507,508],"real-estate","governance","legal","board-resolution","lease-termination",0.95,"\u003Ch2>What is a Board Resolution to Terminate Lease?\u003C/h2>\n\u003Cp>A \u003Cstrong>Board Resolution to Terminate Lease\u003C/strong> is a formal corporate governance document in which a company's board of directors officially votes to authorize the termination of an existing lease agreement and designates an officer to carry out that decision. It records the resolution date, identifies the lease by reference to the original agreement and any amendments, names the authorized signatory, sets the effective termination date, and ratifies any prior actions taken. The document becomes a permanent part of the corporate minute book and serves as the evidentiary record that the termination was properly authorized at the highest level of the organization — not simply initiated by a single employee or officer acting alone.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a board resolution, a lease termination notice may be legally deficient or openly challenged by the landlord. Commercial landlords — and their lawyers — routinely request written proof that the officer who signed the termination letter had actual corporate authority to do so. An officer acting without board authorization exposes both themselves and the corporation to claims that the termination was void, leaving the company liable for rent through the end of the lease term. Beyond the landlord relationship, lenders, auditors, and acquirers conducting due diligence will scrutinize the corporate minute book for exactly this kind of document. A gap in the record — a lease terminated with no corresponding resolution — raises red flags about governance quality and can delay or derail a financing or acquisition. This template gives you a complete, properly structured resolution that closes that gap in under 30 minutes, with a clear audit trail from board decision to landlord notice.\u003C/p>\n",1781186033412]