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extension option |
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extension option An agreed-upon continuation of occupancy under the same conditions, as opposed to a renewal, which implies new terms or conditions. In a lease, it is a right granted by the landlord to the tenant whereby the tenant has the option to extend the lease for an additional period. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ZOLL received a similar contract award in 2004 with four one-year extension options, all exercised and the new agreement for a one-year period at first also contains four one-year extension options. Liverpool loudly trumpeted that agreement in May, and the new deal includes a one-year extension option that could keep Torres at The loan matures in 2016 with two one-year extension options. |
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