The Contract Extension Addendum is a crucial legal instrument used when parties wish to extend their contractual relationship beyond the original term without creating an entirely new agreement. Under Maltese law, this document serves to formally document the extension of an existing contract while providing an opportunity to update or modify terms as needed. It's particularly relevant in Malta's business environment, which features a strong presence in financial services, gaming, and international trade. The document typically includes the extension period, any revised terms, confirmation of continuing obligations, and ensures compliance with both Maltese and EU legal requirements. It's commonly used in situations where the original contract is performing satisfactorily but approaching its expiration date, or when business circumstances require a continuation of services under modified terms.
Contract Extension Addendum for Malta
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Key Requirements PROMPT example:
Contract Extension Addendum
"I need a Contract Extension Addendum for a software licensing agreement with TechCorp Ltd, extending the term by 24 months from March 2025, with an updated pricing structure and additional data protection provisions to ensure GDPR compliance."
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1. Parties: Full legal names and details of all parties to the original contract and addendum
2. Background: Reference to the original contract, its date, and purpose; reason for extension
3. Definitions: Key terms used in the addendum, including reference to definitions in the original contract
4. Extension Term: Clear specification of the new duration or extended period
5. Continued Effect: Confirmation that all other terms and conditions of the original contract remain in full force and effect
6. Governing Law: Confirmation of Maltese law as governing law and jurisdiction
7. Execution: Signature blocks for all parties and execution requirements
1. Modified Terms: Used when specific terms of the original contract need to be modified alongside the extension
2. Additional Consideration: Include when there are new financial terms or consideration for the extension period
3. Performance Review: Used when the extension is conditional upon past performance or includes new performance metrics
4. Regulatory Compliance: Include when extension needs to address new regulatory requirements or compliance matters
5. Notice Provisions: Used when updating or modifying communication methods or notice requirements
6. Early Termination: Include when adding new termination rights specific to the extension period
1. Schedule 1 - Original Agreement: Copy or reference to the original contract being extended
2. Schedule 2 - Updated Commercial Terms: If applicable, detailed pricing, payment terms, or commercial arrangements for the extension period
3. Schedule 3 - Performance Metrics: If applicable, updated or new performance indicators or service levels
4. Appendix A - Required Notices: Copies of any required notices or board resolutions authorizing the extension
5. Appendix B - Compliance Certificates: Any necessary regulatory or compliance certificates required for the extension
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Gaming and iGaming
Maritime and Shipping
Technology
Real Estate
Professional Services
Manufacturing
Retail
Healthcare
Tourism and Hospitality
Education
Telecommunications
Construction
Energy
Import/Export
Relevant Teams
Legal
Procurement
Finance
Operations
Compliance
Risk Management
Business Development
Commercial
Human Resources
Project Management
Account Management
Executive Leadership
Relevant Roles
Legal Counsel
Contract Manager
Procurement Manager
Business Development Manager
Commercial Director
Chief Financial Officer
Operations Manager
Compliance Officer
Risk Manager
Project Manager
Account Manager
HR Director
General Counsel
CEO
Managing Director
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