Renewal Period
/ˈriːnuːəl ˈpɪəriəd/
Definitions
- (n.) The fixed duration following the expiration of an initial term during which a contract, license, or agreement may be extended or continued, often upon agreed terms.
The lease included a renewal period of six months after the initial one-year term.
Forms
- renewal period
- renewal periods
Related terms
See also
Commentary
The renewal period is often carefully drafted to specify conditions and timing for continuation, preventing automatic renewal disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.