In 2010, the landlord’s predecessor entered into a lease with the commercial tenant for property located at Location 1. That lease embodied an early termination provision which stated: “[p]rovided that tenant is not in default…beyond all applicable cure periods, tenant shall have the right and option to accelerate the expiration date of this lease to a date not earlier than May 14, 2015 and provided that tenant provides twelve (12) months prior written notice of the early termination date and pays to landlord within thirty (30) days thereafter the unamortized cost of the broker commission and the lease hold improvements and enhancements.” The lease was to expire in November 2017.
In May 2016, the tenant prepared a Request For Proposal (RFP) “regarding an amendment to the initial lease.” The RFP contained a section entitled “contraction options” which stated that the “tenant requires the right to terminate up to 25 percent of its aggregate leased premises.”
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