This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Mississippi Extension of Primary Term of the Lease refers to a legal provision that allows parties in a lease agreement to extend the initial term of the lease beyond its original duration. This extension can be utilized by landlords and tenants to ensure the continuity of a rental agreement or to negotiate new lease terms. In Mississippi, the Extension of Primary Term of the Lease can have different types depending on the specific terms agreed upon by the parties involved. Here are some common types: 1. Automatic Extension: This type of extension is pre-determined in the original lease agreement. It stipulates that the lease will automatically renew for a specified period unless either party gives notice to terminate the lease within a set timeframe. 2. Renewal Option: This type allows the tenant to exercise their right to extend the lease by notifying the landlord within a specified period before the expiration of the primary term. The terms for the renewal, including rent adjustments and duration, are usually predetermined in the lease agreement. 3. Holdover Extension: In the absence of a specific extension clause, this type of extension may occur when a tenant remains in the premises after the lease expiration without the landlord's objection. The terms for the holdover period are typically subject to negotiation between parties. 4. Periodic Tenancy: If the original lease agreement is structured as a periodic tenancy (e.g., month-to-month), the primary term automatically extends until either party provides proper notice to terminate the lease. When considering a Mississippi Extension of Primary Term of the Lease, it is essential for both landlords and tenants to review the original lease agreement thoroughly. This will ensure a clear understanding of the extension options available and any associated conditions, such as rent adjustments or notice requirements. It is advisable to seek legal advice from a licensed attorney knowledgeable in Mississippi landlord-tenant law to ensure compliance with applicable regulations and to protect the rights and interests of all parties involved in the leasing arrangement.
