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Notice of Disclaimer - Lease

Canadian Insolvency DictionaryCanadian Insolvency Dictionary
In a proposal, the company may disclaim a lease or, in other words, state that it does not require that lease and is cancelling it.&nbsp The proposal must indicate one of the options that is given to the landlord for him to file a claim as follows actual losses resulting from the disclaimer or the lesser of &nbsp (i) three years rent, or &nbsp (ii) the aggregate of the rent provided for in the lease for the first year of the lease following the date on which the disclaimer becomes effective and 15% of the rent for the remainder of the term of the lease after that year.

 

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Absolute
Acceleration Cla...Acceptance
Accessions
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Action
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Administrator
Affidavit
After Acquired P...Agent


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