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Addendum For Extension Of Agreement
"I need an Addendum For Extension Of Agreement to extend our existing IT services contract with TechCorp Solutions Inc. for an additional 24 months starting March 1, 2025, with a 5% annual price increase and updated service level requirements under Canadian law."
1. Parties: Identification of all parties to the original agreement and confirmation that they remain the same for the extension
2. Background: Reference to the original agreement including its date, parties, and subject matter, and brief statement of the intention to extend
3. Definitions: Key terms used in the addendum, incorporating definitions from the original agreement and any new terms specific to the extension
4. Extension Term: Specific details of the extension period, including start and end dates
5. Continuation of Terms: Confirmation that all other terms and conditions of the original agreement remain in full force and effect
6. Consideration: Statement of any additional consideration or payment terms related to the extension
7. Authorization: Confirmation that the parties have necessary authority to extend the agreement
8. Execution: Signature blocks and execution requirements
1. Modified Terms: Used when any terms of the original agreement are being modified along with the extension
2. Additional Provisions: Used when new terms or conditions are being added specific to the extension period
3. Price Adjustments: Include when the extension involves changes to pricing or payment terms
4. Performance Review: Used when the extension is conditional upon review of past performance
5. Regulatory Compliance: Include when extension needs to address new regulatory requirements
6. Early Termination Rights: Used when specific termination rights during the extension period need to be addressed
7. Notice Requirements: Include when modification to notice requirements is needed for the extension period
1. Schedule A - Original Agreement: Copy or reference to the original agreement being extended
2. Schedule B - Updated Timeline: If applicable, revised project timeline or milestone dates for the extension period
3. Schedule C - Revised Pricing: If applicable, updated pricing structure or payment schedule for the extension period
4. Appendix 1 - Authorization Documents: Any corporate resolutions or authorization documents required for the extension
5. Appendix 2 - Performance Reports: If extension is based on performance, relevant performance documentation or metrics
Authors
Extension Period
Extension Date
Effective Date
Extension Term
Parties
Extended Termination Date
Modified Terms
Existing Terms
Additional Services
Renewal Notice
Extension Fee
Extension Conditions
Business Day
Governing Law
Original Term
Extension Notice Period
Amended Terms
Consideration
Authorized Representative
Extension Commencement Date
Surviving Provisions
Force Majeure
Recitals
Definitions
Term Extension
Continuation of Terms
Amendment
Consideration
Representations and Warranties
Authority
Notice
Integration
Governing Law
Counterparts
Entire Agreement
Further Assurances
Severability
Assignment
Price Adjustment
Performance Requirements
Termination Rights
Compliance
Ratification
Execution
Information Technology
Manufacturing
Real Estate
Professional Services
Healthcare
Construction
Retail
Financial Services
Telecommunications
Energy
Transportation
Education
Agriculture
Mining
Entertainment
Legal
Procurement
Operations
Finance
Commercial
Risk Management
Compliance
Sales
Supply Chain
Business Development
Contract Administration
Project Management
Legal Counsel
Contract Manager
Business Development Manager
Procurement Manager
Operations Director
Project Manager
Account Executive
Chief Financial Officer
Commercial Director
Risk Manager
Compliance Officer
General Manager
Sales Director
Supply Chain Manager
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