re·new·al /ri-'nü-əl, -'nyü-/ n
1: the act or process of renewing
a renewal of the copyright
2: the quality or state of being renewed
3: something renewed
4: something used for renewing; specif: an expenditure that betters existing fixed assets
5: the rebuilding of a large area (as of a city) by a public authority
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.