renewal option
Contract continuation right
A renewal option is a clause in a contract—typically a lease or subscription agreement—that gives one party the right to extend the agreement beyond its original term.
The option usually specifies conditions: notice period, new rates, or duration.
The lease includes a five-year renewal option at market rate.
Having the option doesn't obligate you to renew; it simply guarantees the opportunity.
- leaseTemporary use contract
- lease agreementContract for temporary occupancy
- rental propertyReal estate generating tenant income
- real estateLand and its structures
- extensionAdded part or duration
contract · renegotiation · tenant · landlord · clause · term · signing · negotiate · good faith · agreement · deadline · rollover · automatic · exercise · fair market value · notice · occupancy · commitment
renewal optiontermination clause
Section allowing contract dissolution
non-renewal · expiration · lease termination · contract termination · exit clause
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