New York Extended Date for Performance

• Category: Contracts - Extensions
• State: Multi-State
• Control #: US-02969BG
• Format: Word; Rich Text

Description

This is basically a modification of the original contract. Modification is written change made to a contract. It may be unilateral in accordance with the changes clause in the contract or bilateral. Modification may introduce or cancel specifications or terms of a contract without effecting the purpose of the contract. Unilateral modifications are changed usually through a modification order and mutually agreed change is made by a supplemental agreement. It is also called contract amendment or modification of a contract. New York Extended Date for Performance is a legal provision that allows parties to extend the deadline for performance under a contract beyond its original duration. This extension provides additional time for the parties involved to fulfill their obligations and avoid any potential breach of contract. The New York Extended Date for Performance ensures that the parties have flexibility in meeting their contractual requirements, especially when unforeseen circumstances or delays arise. In New York, there are different types of Extended Date for Performance provisions that parties can adopt based on their specific needs: 1. Mutual Extended Date for Performance: This type of provision occurs when both parties mutually agree to extend the deadline for performance. It typically requires written consent from both parties and may include specific conditions or terms for the extension. 2. Unilateral Extended Date for Performance: In some cases, only one party may require additional time to fulfill their obligations. The Unilateral Extended Date for Performance allows the demanding party to request an extension from the other party. This provision often necessitates a written notice or request, detailing the reasons for the extension and the desired new deadline. 3. Force Mature Extended Date for Performance: This provision is invoked when unforeseen events or circumstances beyond the parties' control prevent one or both parties from meeting their contractual obligations within the original timeframe. Situations such as natural disasters, wars, labor strikes, or governmental actions may fall under the Force Mature clause. The Force Mature Extended Date for Performance provides an extension to accommodate the parties' inability to perform due to these exceptional circumstances. It is important to note that the specific terms and conditions of the New York Extended Date for Performance provision may vary based on the particular contract and the intentions of the involved parties. Parties should consult legal professionals to draft and include an appropriate Extended Date for Performance provision in their contracts.

New York Extended Date for Performance is a legal provision that allows parties to extend the deadline for performance under a contract beyond its original duration. This extension provides additional time for the parties involved to fulfill their obligations and avoid any potential breach of contract. The New York Extended Date for Performance ensures that the parties have flexibility in meeting their contractual requirements, especially when unforeseen circumstances or delays arise. In New York, there are different types of Extended Date for Performance provisions that parties can adopt based on their specific needs: 1. Mutual Extended Date for Performance: This type of provision occurs when both parties mutually agree to extend the deadline for performance. It typically requires written consent from both parties and may include specific conditions or terms for the extension. 2. Unilateral Extended Date for Performance: In some cases, only one party may require additional time to fulfill their obligations. The Unilateral Extended Date for Performance allows the demanding party to request an extension from the other party. This provision often necessitates a written notice or request, detailing the reasons for the extension and the desired new deadline. 3. Force Mature Extended Date for Performance: This provision is invoked when unforeseen events or circumstances beyond the parties' control prevent one or both parties from meeting their contractual obligations within the original timeframe. Situations such as natural disasters, wars, labor strikes, or governmental actions may fall under the Force Mature clause. The Force Mature Extended Date for Performance provides an extension to accommodate the parties' inability to perform due to these exceptional circumstances. It is important to note that the specific terms and conditions of the New York Extended Date for Performance provision may vary based on the particular contract and the intentions of the involved parties. Parties should consult legal professionals to draft and include an appropriate Extended Date for Performance provision in their contracts.