Drafting Skills · glossary
The Agreement’s name for the first three years, from the Start Date to 31 March 2030. With the Extension Period, it makes up the “Term”. Two names let each clause say which period it means. Agreement, clause 1.1, “Initial Term” · Chapter 4 · see Extension Period
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 from the Start Date to and including 31 March 2030.Read the definition in the document →
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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 →