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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
An MLA often has two "sides" or "legs", with different assumptions. One leg assumes the current tenant renews the lease with a set of given changes (or none), and the other assumes the tenant leaves the unit and a new tenant takes over. In the later case, it is normally assumed the lease terms will revert to market averages.
The lease includes automatic increases throughout the remainder of the agreement. Costco also will pay leasehold taxes equable to about 13% of the taxable rent.
Section 38 states a lease will automatically renew indefinitely. Section 39 requires an LTB order to remove a tenant who does not leave voluntarily. Together these sections effectively give tenants, if they pay their rent and do not violate other rules, lifetime tenancy.
At the expiration of each subscription term we will automatically renew your subscription and charge the credit card or other payment method you have provided to us, unless you cancel your subscription. Your subscription will be automatically renewed at the then-current price, excluding promotional and discount pricing.
Medicare supplement plans (Medigap) renew automatically each year. Learn more here.
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