AUTOMATIC FIVE-YEAR EXTENSIONS Clause Samples
The "Automatic Five-Year Extensions" clause establishes that an agreement will automatically renew for additional five-year periods unless a party provides notice of non-renewal within a specified timeframe. In practice, this means that at the end of each initial or renewal term, the contract continues seamlessly for another five years without requiring renegotiation or explicit consent, unless one party actively opts out. This clause ensures continuity of the contractual relationship and reduces administrative burden, while also preventing accidental lapses in the agreement.
AUTOMATIC FIVE-YEAR EXTENSIONS. This lease including all terms, conditions, escalations, etc. shall be automatically extended for additional successive periods of five years each unless LESSOR or LESSEE shall [can’t read the text] other party’s option not to so extend the lease. The time for serving such written notice shall be not more than 12 months or less than six months prior to the expiration of the then current lease period. Time is of the essence.
AUTOMATIC FIVE-YEAR EXTENSIONS. This Paragraph Does Not Apply.
AUTOMATIC FIVE-YEAR EXTENSIONS. This Agreement shall be automatically extended for successive five (5) year periods (with each such successive five (5) year period being referred to herein as an “Extended Term”) unless, and only if at least one (1) year prior to the expiration of the Initial Term or, if applicable, at least one (1) year prior to the expiration of the Extended Term then in effect, either party shall give the other written notice of its intention not to extend the Initial Term or, if applicable, the Extended Term then in effect.