The Closing Date Extension Addendum is a critical document used when parties to an existing agreement need to formally extend the completion date of their transaction. This document type is particularly relevant in Hong Kong's fast-paced commercial environment, where timing adjustments in property transactions, corporate acquisitions, and other commercial deals are common. The addendum must comply with Hong Kong's legal requirements for contract modifications, including consideration of stamp duty implications for property transactions. It typically includes references to the original agreement, specific details of the extension period, and any related adjustments necessary due to the timeline change. This document is essential for maintaining legal certainty while providing flexibility in transaction timing.
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1. Parties: Identification of all parties to the original agreement whose closing date is being extended
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 defined terms in the original agreement
4. Extension of Closing Date: Clear statement of the new closing date and effective date of the extension
5. Confirmation of Other Terms: Affirmation that all other terms and conditions of the original agreement remain unchanged
6. Counterparts and Execution: Provisions for signing the addendum, including electronic execution if applicable
1. Additional Consideration: Include if there is any payment or other consideration for the extension
2. Conditions for Extension: Include if the extension is subject to specific conditions being met
3. Related Date Adjustments: Include if other dates in the original agreement need to be adjusted as a result of the extension
4. Representations and Warranties: Include if parties need to confirm certain facts or circumstances related to the extension
5. Costs and Expenses: Include if there are specific provisions about who bears the costs of the extension
1. Schedule 1 - Original Agreement: Copy or extract of the original agreement showing the provision being modified
2. Schedule 2 - Extension Timeline: If complex, a timeline showing original dates and new dates after the extension
3. Schedule 3 - Additional Documents: List of any additional documents required to be delivered due to the extension
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Finance
Construction
Commercial Property
Residential Property
Mergers & Acquisitions
Private Equity
Infrastructure
Industrial
Retail
Relevant Teams
Legal
Real Estate
Corporate
Compliance
Commercial
Property
Transactions
Company Secretarial
Operations
Investment
Relevant Roles
Legal Counsel
Corporate Lawyer
Real Estate Manager
Transaction Manager
Property Director
Compliance Officer
Contract Administrator
Commercial Director
Chief Legal Officer
Company Secretary
Real Estate Director
Investment Manager
Project Manager
Acquisitions Manager
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