Is the tenant obliged to extend tenancy for one month to meet the notice requirement?

In my tenancy contract I have this clause:

"If the tenant intends to vacate or renew the tenancy on the expiry date, he/she agrees to give the landlord at least ninety (90) days written notice.

a) Renewal should be signed and the rental cheque has to be paid 1 month before expiry, otherwise, the landlord has the right to find a new tenant."

I gave the landlord notice 60 days prior to the expiry date. Now he is asking for a penalty of one month from me or extending the contract for 1 month with an additional one-month payment.

However, in the clause, I don't see any reference to such a penalty. The only written sub-clause is that renewal should be signed one month before expiry, otherwise, he can find another tenant.

I want to leave the last day of the contract, therefore I don't have any issue with him finding another tenant afterwards.

Based on the above, is he eligible to get a penalty?

Kind Regards,

D. D.