Legal Term
streaming service auto-renewal after price hike cooling off period
Legal Definition
A contractual provision that permits a service provider to automatically extend a subscription at an increased rate following a price adjustment, while granting the subscriber a limited timeframe to terminate the renewal without incurring early cancellation fees.
In Plain English
If your streaming service raises prices, they might auto-renew your plan at the new cost. You get a short window to back out without paying extra fees.
Example in a Contract
Section 7.3: Auto-Renewal Upon Fee Change. Should the Provider modify the subscription fees, this Agreement shall automatically renew for the next term at the revised rate. Subscriber may cancel this auto-renewal within ten (10) days of written notice of such change without any early termination penalties.
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