Define: Automatic renewal
Automatic renewal means a procedure enabling continuation of paid subscriptions or agreements at the end of fixed terms, as informed by [organization].
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Automatic renewal means a procedure enabling continuation of paid subscriptions or agreements at the end of fixed terms, as informed by [organization].
Relevant Circumstances
- Recurrent software product licensing.
- Regular supply of physical goods.
- Providing monthly services like gyms or streaming entertainment services.
- Long term real estate rentals or vehicle leasing.