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The tenancy will still be valid and enforceable, the agent is merely acts on behalf of the Landlord and the landlord/tenant relationship continues despite the landlord's apparent termination of the agent's contract. Your rights and obligations, and those of the landlord, are not extinguished by this relationship ceasing.
You should speak directly to the Landlord about any changes in the practical issues (ie. payment of rent and communication of repair issues).
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As I mentioned you are bound by the term of the tenancy agreement. If you leave in breach of your obligations then the landlord will seek to claim the money in respect of rent arrears from you. Unless there is a right for you to terminate giving one weeks notice in the tenancy agreement then I'm afraid you will be in breach by terminating upon giving this notice.
If you can negotiate your release from the tenancy and an arrangement in respect of the repayment of the rent arrears then I would consider this good fortune indeed.