In most situations the arrangements with respect to the termination of a commercial lease are contained in the Lease itself.
However, there are many circumstances where no actual Lease is ever executed. So, all we have is the OREA Agreement to Lease Form. If you have a look at that, there is nothing about Lease termination.
So, you will have to look to the Commercial Tenancies Act.
Have a look at the following:
“Rights of re-entry
Re-entry on non-payment of rent
18 (1) Every demise, whether by parol or in writing and whenever made, unless it is otherwise agreed, shall be deemed to include an agreement that if the rent reserved, or any part thereof, remains unpaid for fifteen days after any of the days on which it ought to have been paid, although no formal demand thereof has been made, it is lawful for the landlord at any time thereafter to re-enter into and upon the demised premises or any part thereof in the name of the whole and to have again, repossess and enjoy the same as of the landlord’s former estate.”
Basically, that means that you can re-enter the premises on the 16th day, and no actual notice is required,
This is the “Notice” being Form 1 under the Act:
Brian Madigan LL.B., Broker