Letter regarding option to exercise right to renew lease

Hi all
can anyone shed any light on this scenario.

Letter from managing agent sent to our company regarding renewal of 5 year option. Details include new fees and to be signed by company.

This was signed off by 1 Director, however there are 2 Directors. Previous and current contracts have required 2 signatures.

The contract is then forwarded to Solicitors and back to us for signing off.

What if we now do not wish to exercise this option?
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You need specific legal advice based on the state the property is in and the laws of agency (ie can one director bind the company) and the terms of the lease and how any option is to be exercised.