Exit clause is a way out of a contract
One talks about a trip clause when a contract describes a possibility to have it dissolve. If there is an appointment with a contract (e.g. a rental contract) then it can be described. For example, a retailer can conclude a 3-year lease for the property with a clause that allows the contract to be dissolved earlier than 3 years. For example, when the economic climate becomes less, or if an important supplier stops it. Mostly the clauses are pretty boarded up and there is quite heavy demand to get rid of the contract.