Drafting Skills · glossary
The Agreement’s name for the fourth year, which Polgarrow may choose to add by notice. It runs for 12 months after the Initial Term. “Term” covers both periods, so every clause that runs during the Term runs in year four too. Agreement, clause 1.1, “Extension Period” · Chapter 4 · see Initial Term
Explained in Chapter 4, Definitions in Contracts: Defined Terms That Drift, of Drafting Skills.
The fix names each period and then joins them. The Initial Term is the first three years. The Extension Period is the extra year, if Polgarrow chooses to take it. “Term” now means both, so every clause that runs “during the Term” runs in year four too.Read Chapter 4, Definitions in Contracts: Defined Terms That Drift →
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means the period of 12 months after the Initial Term, if Polgarrow extends this Agreement under clause 2.2.Read the definition in the document →
Related terms
Where this term lives
This term is part of one fictional contract, from term sheet to signing, with every document attached and a test after every chapter. Open Drafting Skills → · All terms A–Z →