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Extension of Agreement

This template is used to formally extend the terms of an existing agreement between two or more parties. It is suitable for situations where additional time is required to fulfill obligations or complete activities outlined in the original agreement.

Updated 16d ago
agreement extensioncontract amendmentloan extensionpayment deferrallegal agreementbusiness agreement

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

EXTENSION OF AGREEMENT

This Extension of Agreement ("Extension") is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

**Party 1:** {{party1_name}}, with its principal place of business at {{party1_address}} (hereinafter referred to as "Party 1").

**Party 2:** {{party2_name}}, with its principal place of business at {{party2_address}} (hereinafter referred to as "Party 2").

(Collectively, the "Parties" and individually a "Party")

RECITALS

WHEREAS, the Parties entered into a primary agreement titled "{{original_agreement_title}}" on {{original_agreement_date}} (hereinafter referred to as the "Original Agreement");

WHEREAS, the Original Agreement is set to expire on {{original_agreement_expiry_date}}; and

WHEREAS, the Parties desire to extend the term of the Original Agreement under the terms and conditions set forth herein.

AGREEMENT TO EXTEND

The Parties hereby agree to extend the term of the Original Agreement for an additional period of {{extension_period}} (e.g., three months, six months, one year), commencing from {{new_start_date}} and expiring on {{new_expiry_date}}.

TERMS AND CONDITIONS

Except as expressly modified by this Extension, all other terms, conditions, covenants, and provisions of the Original Agreement shall remain in full force and effect and are hereby ratified and confirmed by the Parties.

Any references to the expiry date in the Original Agreement shall now refer to the new expiry date of {{new_expiry_date}}.

Specific clauses or sections of the Original Agreement that are subject to modification or amendment as a result of this extension are as follows: {{modified_clauses_description}}.

CONSIDERATION

In consideration of this Extension, the Parties agree to {{consideration_details}} (e.g., Party 2 shall pay an additional extension fee of {{currency}}{{extension_fee}} to Party 1; or, mutual promises herein contained).

GOVERNING LAW

This Extension shall be governed by and construed in accordance with the laws of {{country_name}}.

ENTIRE AGREEMENT

This Extension, together with the Original Agreement, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

COUNTERPARTS

This Extension may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

SIGNATURES

IN WITNESS WHEREOF, the Parties have executed this Extension as of the date first written above.

**FOR PARTY 1:**

_____________________________

Name: {{party1_signatory_name}}

Title: {{party1_signatory_title}}

Date: {{signature_date}}

**FOR PARTY 2:**

_____________________________

Name: {{party2_signatory_name}}

Title: {{party2_signatory_title}}

Date: {{signature_date}}

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