A "break fee" is a financial penalty or compensation that is paid by one party to another if they terminate or cancel a business agreement before it is completed. Full definition
A partner at a global private equity firm said reverse break fees remain a very small portion of overall deals — about one in 10 — but they are starting to gain traction. (iflr.com)
I have had to deal with contract breaking fees in the past and they suck. (thecollegeinvestor.com)
You may also have to pay a significant break fee if you want to pay out or refinance the fixed rate portion of your loan. (moneysmart.gov.au)