In our Lease and service Agrrement there is a Term: with an automatic renewal clause if the Landlord is not given a 60 day (in writing) notice of intent to termanate. There is not a initial line or signature line on the page of this clause. In CA this is a mandatory requirement for automatic renewal clauses.
Is this binding and or legal
Real Estate Attorney
Generally speaking, the law in PA governing commercial leases (very much distinguished from residential leases) is what the lease says it is. In your case, if the lease says automatic renewal unless notice is given, the lease will renew according to those terms. There are no special initialing or other requirements.
I have negotiated over 500 commercial leases in the past 6 years (both within PA and without); generally speaking, there is very little in the way of "law" or statutory protection for commercial leases---the parties are free to retain counsel and negotiate whatever terms they agree on.
Good luck, and let me know if I can help further-
John M. Erdek