Common use of AND EXTENSIONS Clause in Contracts

AND EXTENSIONS. (a) Renegotiations.--A renegotiation occurs when a rental- purchase agreement is satisfied and replaced by a new agreement undertaken by the same consumer. A renegotiation requires new disclosures, except as provided in subsection (c). (b)

AND EXTENSIONS. ``(a) Renegotiations.--A renegotiation occurs when a rental- rental-purchase agreement is satisfied and replaced by a new agreement undertaken by the same consumer. A renegotiation requires new disclosures, except as provided in subsection (c). ``(b) Extensions.--An extension is an agreement by the consumer and the merchant, to continue an existing rental-purchase agreement beyond the original end of the payment schedule, but does not include a continuation that is the result of a renegotiation. ``(c)