Tenant right to terminate the entire lease at a stated trigger date, often subject to a fee.
Lease structure · US
Tenant right to terminate the entire lease at a stated trigger date, often subject to a fee.
A termination option (sometimes 'kick-out') gives the tenant the contractual right to end the lease at a stated date, subject to a termination fee equal to the unamortised TI, free rent, and brokerage. Standard on long-term US leases for risk management.
Termination option is part of the lease structure vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so cross-border occupiers can translate quickly.