Common use of EARLY TERMINATION OF LEASE Clause in Contracts

EARLY TERMINATION OF LEASE. Due to market conditions for this particular type of housing, the Student acknowledges and agrees to the Owner’s right to liquidated damages, that in the event the Student chooses to end his/her Lease early by abandonment or termination of the Lease, due to Student’s default prior to the ending date listed above. Student will be responsible, at the option of the Owner, to pay as liquidated damages to adequately compensate the Owner for an otherwise inestimable loss and not as a penalty, the rent due and owing for the full term of the Lease regardless of whether or not he/she is physically living in the Premises, unless and until, a replacement tenant has been secured in accordance with Section 15 of this Lease. This reserved right of the Owner is in addition to and not exclusive of or a limitation upon the Owner’s right as set forth in section 21 of the Lease.

EARLY TERMINATION OF LEASE. Due to market conditions for this particular type of housing, the Student acknowledges and agrees to the Owner’s right to liquidated damages, that in the event the Student chooses to end his/her Lease early by abandonment or termination of the Lease, Lease due to Student’s default prior to the ending date listed above. Student will be responsible, at the option of the Owner, to pay as liquidated damages to adequately compensate the Owner for an otherwise inestimable loss and not as a penalty, the rent due and owing for the full term of the Lease regardless of whether or not he/she is they are physically living in the Premises, unless and until, until a replacement tenant has been secured in accordance with Section 15 of this Lease. This reserved right of the Owner is in addition to and not exclusive of or a limitation upon the Owner’s right as set forth in section 21 of the Lease.