Document background
The Closing Date Extension Addendum is a critical document used when parties need to modify the closing date in an existing agreement under German law. It's commonly employed in situations where external factors, regulatory approvals, or other circumstances necessitate extending the originally agreed closing timeline. The document must comply with German Civil Code (BGB) requirements, particularly §§ 311 and 126 regarding contract modifications and form requirements. This addendum typically includes reference to the original agreement, specific details about the new closing date, any conditions attached to the extension, and confirmations about the continued validity of other terms. It's particularly relevant in complex transactions where closing conditions cannot be met within the initial timeframe, requiring formal documentation of the extended timeline while preserving the legal integrity of the original agreement.
