extension option

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.

References in periodicals archive ?
In the conclusion we summarize the general line the DRC and CAS stand for with respect to the unilateral extension option and will answer two important questions: What conclusions can be drawn from analyzing DRC and CAS jurisprudence and what can be expected from future DRC and CAS decisions?
Seven night holiday extension option in Port El Kantaoui.
The contract is for 270 days with an extension option.
The loan matures in March 2009 and has one remaining one-year extension option.
22/2015 - service collection door to door municipal waste and assimilated in the municipality of monsummano terme (pt) for a period of 12 months with possible extension option for a further 12 months - cig 6188800751.
announced that The Donna Karan Company LLC, the fashion label of designer Donna Karan and a unit of LVMH Moet Hennessy Louis Vuitton SA, has signed a new 10-year lease covering 143,800 s/f with a five-year extension option at 240 West 40th Street.
The base period is followed by one two-year extension option and one eight-month extension option, making the total potential contract length four years and eight months.
9, 2009, and there is one more one-year extension option.
Contract notice: Market-oriented procurement of electricity and natural gas for the years 2016 and 2017 with an extension option for 2018th
The loan is for three years, with a one-year extension option.
FormFactor, the world's fastest-growing probe card supplier, is employing Applied Precision's 4500 channel Extension option for the PrecisionPoint(TM) VX2 Probe Card Analyzer.
9, 2008, the second extension option was exercised, extending the loan's maturity to Feb.