Common use of LEASE BUY-OUT Clause in Contracts

LEASE BUY-OUT. In the event, Resident desires to terminate the lease prior to the end of the initial term or any extension thereon, Resident may do so by giving thirty (30) days written notice, paying all amounts due or which would fall due prior to move-out (including paying back to Owner any and all move-out discounts or lease concessions), and paying the Lease Buy-Out Amount above. Such amounts are to be paid at the time of giving the notice. Resident shall still be responsible for any damages and cleaning of the Premises. If no amount is stated or the amount is $0, it shall be deemed to be the full amount due through the end of the initial term of this agreement. The lease may only terminate on the last day of a month unless otherwise agreed to by Owner or due to default.