The tenants are in default They have not paid the July rent, the invoice for this was sent by email on the 20thJune monies should have been in the business account as cleared funds by the !st July this payment still hasn't been made. a letter was received dated 2nd July in which the tenants solicitor stated her clients wished to terminate the term of the lease on the 7th August, The wording of the Break Clause is shown below.
20. Break Clause.
20.1 Either the Landlord or the Tenant may terminate this lease by serving a Break Notice on the other party.
20.2 A Break Notice served by the Tenant shall be of no effect if, at the Break Date
(a) The Tenant has not paid any part of the Annual Rent, or any VAT in respect of it, which was due to have been paid;
(b) Vacant possession of the whole of the property is not givern; or
Subject to Clause20.2, following service of BreakNotice this lease shall terminate on the Break Date.
20.3 Termination of this lease on the Break Date shall not affect any other right or remedy that either Party may have in relation to any earlier breach of this lease.
20.4 The Landlord shall within 14 days refund to the Tenant the proportion of the Annual rent and any nthat paid in respect of it for the period from and nexcluding the Break Date calculated on a daily basis.
There are insufficient Deposit funds to cover Interest due on Late Payment £250.00 Admin Fees and the Solicitors Fees.