Lock-in Period. Except as provided herein, it has been expressly agreed by and between the parties hereto that neither party shall have the right to terminate the Lease hereby given for the initial period of 36 (Thirty six) months i.e. up to January 31, 2009 (“Lock In Period”). In the event that the Lessee terminates the lease under this Deed during the Lock In Period, the Lessee will pay the Lease rentals that will be payable under this Deed, for the unexpired portion of the Lock In Period and the Lessor shall refund to the Lessee the balance security deposit after deducting from it the rent for the unexpired lease term i.e. up to 31st January 2009. Provided that if the security deposit is less than the amount of the lease rent payable by the Lessee to the Lessor, including the lease rent for the unexpired Lock-in-Period, the Lessee shall, simultaneously on vacating the Leased Premises but no later than fifteen (15) days from the date of such termination, pay the balance amount payable to the Lessor. Failure to pay so within the said time frame of fifteen (15) days, the Lessee shall be liable to pay as penal charges, an amount equal to twice the amount of the prevailing lease rent for the unexpired Lock-in-Period.
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