Notification date

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Notification date

The day the option is either exercised or expires.

Notification Date

1. The date by which one party to a contract must inform the other of the former's intent to either renew or withdraw from the contract. This especially applies to housing leases, marketing contracts, and long-term business arrangements. Some contracts renew automatically if neither party cancels by the notification date, while others require notification either way. For example, a rental agreement ending on August 1 may contain a requirement that the renter inform the landlord by May 1 whether or not he/she intends to renew the lease.

2. In options, see expiration date.

Mentioned in ?

split-fee option

References in periodicals archive ?

This may be due to the fact that many notification dates did not start until his fall.

Rockefeller Center meeting its challenge for new leasing

To compound the chore, Marlantes noted, the tenants' notification dates do not even start until this fall and are staggered over the next 18 months.