A fixed period during which neither party can terminate the contract. Common in rental agreements, employment contracts, and investment products. During this period, early termination may result in penalties.
Your rental agreement has a 6-month lock-in. If you leave after 3 months, you might lose your security deposit or pay a penalty. But beware: if only the tenant has a lock-in but the landlord can evict freely, that's unfair — lock-in should be equal for both parties.
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