أسئلة وأجوبة
Early termination of a long-term commercial lease agreement
In case of a long-term lease with a commercial tenant for eg 5 years and the tenant wants to break the contract say after 3 years.
The termination clause in the agreement states that the tenant has to pay a minimum rent for 3 years + termination penalty equal to 6 months + 3 months notice period.
The query is, at the time of termination, lease agreement ceases and the tenant is liable to pay the termination penalty + notice period immediately or as per the terms of the lease agreement?
Assume the tenant wants a payment plan, can he lock up the premise and not hand over the keys till the minimum rent period (i.e 3 years) and whether late payment fees is applicable? (assume the lease agreement states late payment fees for non-payment), if applicable whether the calculation should be from termination date or the lease due dates?
I believe the late payment fees should be from the termination date and not on lease due dates since the lease agreement is terminated by way of the notice.

As per the facts were given:
Occupation by the tenant: 3 years since he has to pay a minimum rent for 3 years + 3 months notice period.
This sentence "The query is at the time of termination, lease agreement ceases and the tenant is liable to pay the termination penalty + notice period immediately or as per the terms of the lease agreement? " is not clear.
This sentence "Assume the tenant wants a payment plan, can he lock up the premise and not hand over the keys till the minimum rent period (i.e 3 years)" - yes.
For the remaining question please engage a law firm and the documents have to be properly reviewed and then legal advice can be given appropriately.