Renewal period clause: Copy, customize, and use instantly
Introduction
A renewal period clause specifies the conditions under which the Agreement can be renewed after the initial term. This clause ensures that both parties understand the process, timelines, and terms for renewing the Agreement, providing clarity on the renewal procedure and any required actions.
Below are templates for renewal period clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard renewal period clause
This version includes basic provisions for renewal.
This Agreement shall automatically renew for successive [X]-year periods unless either party provides written notice of its intention not to renew at least [X] days before the end of the initial term or any renewal period. The terms and conditions for each renewal period will remain the same unless otherwise agreed in writing.
Renewal period clause with provision for renegotiation
This version applies to renegotiation of terms.
Upon renewal of this Agreement, the parties may negotiate new terms and conditions. If no new agreement is reached, the Agreement will continue under the same terms as the previous period, unless either party notifies the other of its intention not to renew at least [X] days before the end of the current term.
Renewal period clause with provision for automatic renewal
This version applies to automatic renewal.
This Agreement will automatically renew for a period of [X] years unless either party provides written notice of termination at least [X] days before the expiration of the current term. No action is required to renew the Agreement unless one party elects not to renew as per the notice provision.
Renewal period clause with provision for one-time renewal
This version applies to one-time renewal.
This Agreement may be renewed once for an additional term of [X] years upon mutual agreement of both parties. To initiate the renewal, either party must provide written notice to the other party no less than [X] days before the expiration of the current term.
Renewal period clause with provision for early renewal
This version applies to early renewal.
Either party may request to renew the Agreement early at least [X] months before the expiration of the current term. If both parties agree to the early renewal, the renewal period will commence immediately following the end of the current term.
Renewal period clause with provision for conditional renewal
This version applies to conditional renewal.
The renewal of this Agreement is contingent upon [Party A] meeting certain conditions, including [specific conditions]. If the conditions are not met, the Agreement will not be renewed and will terminate at the end of the current term.
Renewal period clause with provision for renewal based on performance
This version applies to performance-based renewal.
The renewal of this Agreement will be subject to [Party B] meeting performance criteria as outlined in the Agreement. If [Party B] fails to meet these criteria by the end of the current term, [Party A] reserves the right not to renew the Agreement.
Renewal period clause with provision for renewal fee
This version applies to renewal fees.
The renewal of this Agreement will be subject to a renewal fee of [X] payable by [Party A] within [X] days before the start of the renewal period. The fee may be adjusted based on [specific criteria, e.g., inflation or other agreed-upon factors].
Renewal period clause with provision for option to renew
This version applies to option to renew.
[Party A] shall have the option to renew this Agreement for an additional term of [X] years. To exercise this option, [Party A] must provide written notice to [Party B] no less than [X] days prior to the expiration of the current term.
Renewal period clause with provision for cap on renewal terms
This version applies to cap on renewal terms.
The Agreement may be renewed for no more than [X] additional terms, each of [X] years. After [X] renewals, the Agreement will terminate unless the parties agree to extend it under new terms.
Renewal period clause with provision for mutual consent
This version applies to mutual consent.
The Agreement may be renewed for additional periods by mutual written consent of both parties. Either party may decline to renew the Agreement by providing written notice to the other party at least [X] days before the expiration of the current term.
Renewal period clause with provision for auto-renewal with opt-out
This version applies to auto-renewal with opt-out.
This Agreement will automatically renew for successive [X]-year periods unless either party provides written notice of its intention not to renew at least [X] days before the end of the initial term or any renewal period. If either party does not wish to renew, they may opt-out by giving written notice.
Renewal period clause with provision for shorter renewal term
This version applies to shorter renewal term.
Upon expiration of the initial term, this Agreement will renew for successive terms of [X] months, unless either party provides written notice of its intention not to renew at least [X] days before the expiration of the current term.
Renewal period clause with provision for renewal notification
This version applies to renewal notification.
At least [X] days prior to the expiration of the Agreement, [Party A] will send a written notification to [Party B] regarding the intent to renew. If no such notification is received, the Agreement will terminate at the end of the current term.
Renewal period clause with provision for different renewal terms
This version applies to different renewal terms.
The initial term of this Agreement will be for [X] years, with the option to renew for additional terms of either [X] or [Y] years, as mutually agreed upon by both parties at the time of renewal.
Renewal period clause with provision for automatic price adjustment upon renewal
This version applies to automatic price adjustment.
Upon renewal, the pricing terms of this Agreement will be adjusted based on a [X]% increase or decrease from the previous term, or as otherwise mutually agreed. [Party A] will be notified of the new pricing at least [X] days before the renewal date.
Renewal period clause with provision for no automatic renewal
This version applies to no automatic renewal.
This Agreement will not automatically renew. To renew the Agreement, [Party A] must provide written notice to [Party B] no less than [X] days prior to the expiration of the current term. If no such notice is provided, the Agreement will terminate at the end of the current term.
Renewal period clause with provision for early termination right
This version applies to early termination.
Either party may terminate this Agreement before the renewal period by providing [X] days’ notice in writing. After the expiration of the initial term, the Agreement will automatically renew unless terminated as specified.
Renewal period clause with provision for notice period adjustment
This version applies to notice period adjustment.
The notice period for renewal of this Agreement will be [X] days. This period may be adjusted by mutual consent in writing, with the adjusted notice period being applicable to any subsequent renewal periods.
Renewal period clause with provision for limited renewal
This version applies to limited renewal.
This Agreement shall renew automatically for an additional term of [X] months unless either party provides written notice of termination at least [X] days before the end of the current term. The total number of renewal periods under this Agreement will not exceed [X] terms.
Renewal period clause with provision for fixed renewal term
This version applies to a fixed renewal term.
Upon expiration of the initial term, this Agreement will automatically renew for a fixed term of [X] years. Either party may terminate the Agreement by giving written notice at least [X] days before the end of the renewal term.
Renewal period clause with provision for annual renewal
This version applies to annual renewal.
The Agreement will automatically renew for successive one-year periods unless either party gives written notice of its intention not to renew at least [X] days prior to the end of the current term. The terms of the renewal period will remain the same as the initial term.
Renewal period clause with provision for discretionary renewal
This version applies to discretionary renewal.
[Party A] may renew this Agreement at its sole discretion for additional periods of [X] years, provided that written notice is given to [Party B] at least [X] days prior to the expiration of the current term.
Renewal period clause with provision for renewal price adjustment
This version applies to price adjustment.
Upon renewal of this Agreement, [Party A] reserves the right to adjust the pricing structure for the renewal term. Such adjustment will be based on the [X] index or any other mutually agreed-upon metric, and will be communicated in writing to [Party B] at least [X] days before the renewal date.
Renewal period clause with provision for change of terms upon renewal
This version applies to change of terms.
Upon renewal of this Agreement, both parties agree to meet and negotiate any changes to the terms and conditions. If no changes are agreed upon, the original terms will remain in effect for the renewal period.
Renewal period clause with provision for approval requirement
This version applies to approval requirement.
This Agreement shall not automatically renew unless both parties mutually agree in writing to the terms of renewal. [Party A] must provide written approval for the renewal of this Agreement no later than [X] days before the expiration of the current term.
Renewal period clause with provision for different renewal periods
This version applies to different renewal periods.
The initial term of this Agreement will be for [X] years, and subsequent renewals will be for terms of [X] months, [Y] years, or another mutually agreed duration. The renewal period length will be determined by the mutual agreement of the parties at the time of renewal.
Renewal period clause with provision for negotiated renewal
This version applies to negotiated renewal.
Upon expiration of the initial term, this Agreement will be subject to renewal on mutually negotiated terms. [Party A] and [Party B] will engage in good faith discussions to finalize the renewal terms and execute a renewal agreement.
Renewal period clause with provision for suspension of renewal
This version applies to suspension of renewal.
[Party A] may suspend the renewal of this Agreement if [Party B] fails to meet certain performance or compliance standards. [Party A] will notify [Party B] in writing of any failure to meet such standards and will allow a [X]-day period to remedy the issue before renewal is suspended.
Renewal period clause with provision for no renewal after first term
This version applies to no renewal after first term.
This Agreement shall be effective for an initial period of [X] years, and shall not automatically renew after the expiration of the first term. If both parties agree to a renewal, a new agreement must be negotiated and executed prior to the end of the initial term.
Renewal period clause with provision for renewal fee
This version applies to renewal fees.
The renewal of this Agreement will be subject to the payment of a renewal fee by [Party A]. The renewal fee will be specified in writing and must be paid [X] days before the commencement of the renewal period.
Renewal period clause with provision for right of first refusal
This version applies to right of first refusal.
Upon expiration of the initial term, [Party A] will have the right of first refusal to renew this Agreement on the same terms as those in the current term. If [Party A] declines the renewal, [Party B] may seek a new agreement with another party.
Renewal period clause with provision for mutual agreement
This version applies to mutual agreement.
Upon expiration of the initial term, the Agreement will be renewed only upon mutual agreement of both parties. Both parties will discuss and agree upon the terms of renewal prior to the expiration of the current term.
Renewal period clause with provision for automatic renewal based on performance
This version applies to performance-based renewal.
This Agreement will automatically renew for successive periods of [X] years unless either party provides written notice of termination at least [X] days prior to the end of the current term. Renewal will be contingent upon [Party B] meeting agreed-upon performance metrics during the current term.
Renewal period clause with provision for early termination during renewal
This version applies to early termination during renewal.
If either party chooses not to continue the Agreement beyond the renewal period, it may terminate the Agreement by providing written notice to the other party at least [X] days prior to the end of the renewal period. No early termination fee will be applicable if the termination is in accordance with this clause.
Renewal period clause with provision for restricted renewal
This version applies to restricted renewal.
This Agreement may only be renewed if both parties mutually agree to extend the term. Any renewal will be restricted to no more than [X] years from the original expiration date, and the terms of the renewal must be mutually agreed upon.
Renewal period clause with provision for conditional renewal
This version applies to conditional renewal.
The renewal of this Agreement is contingent upon [Party B] meeting certain specified conditions, including [list of conditions]. If these conditions are not met, the Agreement will not be renewed, and [Party B] will be notified of the non-renewal in writing.
Renewal period clause with provision for review prior to renewal
This version applies to review prior to renewal.
[Party A] and [Party B] will meet prior to the renewal period to review the performance, terms, and conditions of the Agreement. Based on the review, both parties may decide to renew, renegotiate, or terminate the Agreement.
Renewal period clause with provision for extended renewal option
This version applies to an extended renewal option.
[Party A] may request an extended renewal option of up to [X] additional years, subject to the agreement of both parties. If the renewal option is exercised, the new renewal term will begin immediately following the expiration of the current term.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.