Common use of Lock-in Period Clause in Contracts

Lock-in Period. i. It has been specifically agreed by the Lessee that this Deed has a Lock-in-Period of initial months (hereinafter referred to as the “Lock-In period”) from the Lease Commencement Date. By any which case it means that the Lessee will continue to pay the Lease Rent for the first months continuously and without any interruption. ii. It has been specifically agreed by the Lessee that if the Lease is terminated by the Lessee during the lock-in period as stated above or the Lessee commits any default in observance of the terms and conditions on its part, on account of which the Lessor shall terminate this Lease during the lock-in period, then the Lessee shall without prejudice to the other rights and remedies available to the Lessor, be liable to pay lease rent for the balance period out of the lock-in period.