Automatic Extension:
Noun
1. A provision in a contract or agreement that allows for the continuation or renewal of the contract for a specified period of time without the need for explicit action or consent from the parties involved.
2. In the context of legal documents, an automatic extension refers to the automatic prolongation of a deadline, expiration date, or time limit without requiring any additional action or formal request.
3. In the field of taxation, an automatic extension refers to the granted additional time given to taxpayers to file their tax returns beyond the original deadline, usually without the need to provide a reason or justification.
4. In the realm of sports, an automatic extension refers to a situation where a player’s contract is extended for an additional period of time based on certain predetermined conditions being met, such as achieving specific performance milestones or reaching a certain number of appearances.
5. In the context of software or technology, an automatic extension refers to the automatic renewal or continuation of a subscription, license, or service without the need for manual intervention or explicit consent from the user or customer.
Automatic extension refers to a provision in a contract or agreement that allows for the extension of certain terms or conditions without the need for further action or agreement by the parties involved. This provision is typically included to ensure continuity and avoid disruption in the event that the original agreement expires or is not terminated by either party. The automatic extension clause specifies the conditions under which the extension will occur, such as the length of the extension period and any changes to the terms or conditions. It is important for parties to carefully review and understand the automatic extension provision before entering into a contract to ensure they are aware of the potential implications and obligations that may arise.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
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