Business Location Closure Notice

BUSINESS LOCATION CLOSURE NOTICE

Notice Date:

Parties

Business Name:

Recitals

WHEREAS, Business Name operates a commercial location at the address identified above and holds such rights, obligations and licenses necessary for operation; and

WHEREAS, Business Name intends to cease operations at the identified location and commence closure procedures on or about (the "Closure Effective Date"); and

WHEREAS, the parties desire to document responsibilities for wind-down activities, final payments, return of possession, and related obligations in order to avoid dispute.

Scope of Closure Activities

Wind-Down Completion Date:

Closure Reason (select all that apply)

Permanent closure
Temporary closure (expected reopening)
Relocation to a new premises
Renovation or substantial alteration

Payment Terms

Outstanding Balance Owed to Recipient (if any): $

Late fee applicable to any unpaid amount after due date: (applied monthly)

Security Deposit Amount Held: $

Security Deposit Return Timeline (days after final inspection):

Term and Termination

Commencement of Closure Obligations: . Completion of closure obligations:

Either party may terminate this notice and the obligations hereunder for material breach if the breaching party fails to cure within days after written notice. Termination does not relieve either party of obligations accrued prior to termination, including payment obligations and indemnities.

Obligations on Vacating Premises

Final meter readings, utility disconnection or transfer, and any required municipal notifications shall be the responsibility of the party designated in the Scope of Closure Activities unless otherwise agreed in writing. Costs incurred for remediation beyond reasonable wear and tear are the responsibility of Business Name.

Confidentiality

Each party shall maintain in confidence all nonpublic business information disclosed in connection with the closure, including financial reconciliation, lease terms, and trade information, and shall not disclose such information except to affiliates, legal counsel, accountants, or as required by law. Confidential information does not include information that is or becomes publicly known through no fault of the receiving party.

Indemnification

Business Name agrees to indemnify and hold harmless Recipient from and against any claims, liabilities, damages, costs and expenses (including reasonable attorneys' fees) arising out of Business Name's failure to perform closure obligations, environmental contamination caused by Business Name, or breaches of representations contained in this notice. Recipient agrees to indemnify Business Name for claims arising from Recipient's gross negligence or willful misconduct.

Governing Law

This Notice and any dispute arising under it shall be governed by and construed in accordance with the laws of the State of without regard to choice-of-law principles.

Entire Agreement

This Notice constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. No amendment shall be effective unless in writing and signed by both parties.

Additional Terms

Contact for Closure Coordination

By signing below, the parties confirm that the information in this Notice is accurate, that they are authorized to bind their respective entities, and that they accept the responsibilities and terms set forth herein.

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