Commercial Lease Extension Addendum Form 2024

Commercial Lease Extension Addendum Form: What You Should Know

This extension will also apply to the renewal of the existing lease with the same, or a substantially similar terms as the extension described herein. Except as otherwise specified herein, this extension and extension will be effective on the expiration or termination of the prior lease term provided that the Lease Agreement in force on June  1 Jan 2024 is not terminated by any party then in possession of real property or a security interest therein, and that the parties have not made any material modification to the Lease Agreement at the time of extension except to extend the expiration or termination of the existing lease term. This extension extends and renews an existing Lease Agreement, and will apply to renewal terms unless the parties have entered into a separate lease extension agreement (or the parties have entered into an Amendment to the Lease), in which case this extension and extension will apply to renewed lease terms unless the parties have entered into a separate lease extension agreement (or the parties have entered into an Amendment to the Lease) in which case both the existing and renewed lease terms will continue to apply for up to the period of the lease extension. The extension shall apply to all Leases for the duration of the extension. When a lease terminates before the expiration of the existing lease term, the new lease will remain in force and effect for a maximum of 20 days after the end of the existing lease term. This extension will not extend the Lease and extension period of any extension of release lease term or any renewal lease term. The extension will not extend such term that was already in effect on a prior Lease. The extension of the Lease and extension period of the existing Lease term will not be effective until after expiration of the Lease and extension period of the existing lease term and is subject to the following provisions: The extension and extension period will apply unless the parties have entered into a separate lease extension agreement (or the parties have entered into an Amendment to the Lease), in which case this extension and extension will apply to renewed lease terms unless the parties have entered into a separate lease extension agreement (or the parties have entered into an Amendment to the Lease) in which case both the existing and renewed lease terms will continue to apply for up to the period of the lease extension. The terms of the renewal lease will not extend beyond the existing or extended term.

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