The Contract Extension Addendum is a crucial document used when parties wish to extend their contractual relationship beyond the original termination date. This document type is particularly relevant in Danish business contexts where existing agreements need to be prolonged without creating entirely new contracts. It's commonly used when both parties are satisfied with their current arrangement but need to adjust the timeline, potentially with minor modifications to other terms. The addendum must comply with Danish contract law, including the Danish Contracts Act (Aftaleloven), and should clearly reference the original agreement while specifying any changes. This document is essential for maintaining business continuity and legal compliance while avoiding the complexity and cost of drafting entirely new agreements.
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Key Requirements PROMPT example:
Contract Extension Addendum
I need a Contract Extension Addendum under Danish law to extend our existing IT services agreement with TechServe A/S for an additional 24 months from January 2025, maintaining all current terms and conditions.
1. Parties: Identification of all parties to the original agreement and this extension addendum
2. Background: Reference to the original agreement, its date, and brief context for the extension
3. Definitions: Key terms used in the addendum, including reference to definitions in the original agreement
4. Extension Term: Specific details of the extension period and effective dates
5. Confirmation of Other Terms: Confirmation that all other terms and conditions of the original agreement remain unchanged
6. Authority: Confirmation that the signatories have the authority to execute this extension
7. Counterparts: Provision allowing the addendum to be signed in counterparts
8. Governing Law: Confirmation that Danish law continues to govern the agreement
1. Modified Terms: Include if any terms besides duration are being modified as part of the extension
2. Additional Services/Products: Include if the extension involves any new services or products not covered in the original agreement
3. Price Adjustments: Include if the extension involves any changes to pricing or payment terms
4. Performance Review: Include if the extension is conditional upon review of past performance
5. Compliance Updates: Include if new regulatory requirements or compliance measures need to be addressed
1. Schedule 1 - Updated Timeline: Detailed timeline showing the extended period and any key milestones
2. Schedule 2 - Revised Pricing: If applicable, updated pricing structure for the extension period
3. Appendix A - Original Agreement: Copy of the original agreement being extended
4. Appendix B - Performance Report: If relevant, documentation of performance under the original agreement
Authors
Relevant legal definitions
Addendum
Original Agreement
Extension Period
Extension Date
Original Term
Effective Date
Extended Termination Date
Parties
Modified Terms
Existing Terms
Extension Fee
Renewal Period
Notice Period
Business Day
Agreement Date
Original Contract
Extension Conditions
Governing Law
Extension Notice
Signature Date
Original Agreement
Extension Period
Extension Date
Original Term
Effective Date
Extended Termination Date
Parties
Modified Terms
Existing Terms
Extension Fee
Renewal Period
Notice Period
Business Day
Agreement Date
Original Contract
Extension Conditions
Governing Law
Extension Notice
Signature Date
Clauses
Relevant Industries
Information Technology
Manufacturing
Real Estate
Professional Services
Healthcare
Retail
Construction
Financial Services
Telecommunications
Education
Energy
Transportation
Agriculture
Media and Entertainment
Relevant Teams
Legal
Procurement
Commercial
Operations
Finance
Compliance
Sales
Administration
Business Development
Contract Management
Relevant Roles
Contract Manager
Legal Counsel
Procurement Manager
Business Development Manager
Commercial Director
Operations Manager
Project Manager
Account Manager
Chief Financial Officer
Compliance Officer
General Counsel
Sales Director
Administrative Manager
Relationship Manager
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