Hi, I was wondering if someone can kindly guide me. I am unclear about the below clause:
12.3. If neither party serves a valid notice to terminate the tenancy at the end of the Initial Term, the parties
agree that at the end of the Initial Term the tenancy will continue as a contractual periodic tenancy on a monthly
does it mean if the tenant doesn’t give notice after the initial term which is 4 months in my case, they will have to wait for the fixed term to finish (12 months)? what does the monthly basis mean in the above clause?
thanks in advance.