Contract Option Sample Clauses
A Contract Option clause grants one or both parties the right to extend, renew, or modify certain terms of the agreement under specified conditions. Typically, this clause outlines the process for exercising the option, such as providing written notice within a set timeframe, and may detail the terms that will apply if the option is exercised, like pricing or duration. Its core practical function is to provide flexibility and predictability, allowing parties to plan for future needs or changes without renegotiating the entire contract.
Contract Option. In the event that the Interconnection Customer and Interconnected Transmission Owner agree to utilize the Negotiated Contract Option provided by the Interconnection Construction Service Agreement to establish, subject to FERC acceptance, non-standard terms regarding cost responsibility, payment, billing and/or financing, the terms of Sections 10.1 and/or 10.2 of this Section 10.0 shall be superseded to the extent required to conform to such negotiated terms, as stated in a schedule attached to the parties’ Interconnection Construction Service Agreement relating to interconnection of the Customer Facility.
Contract Option. One of the allocation options offered by the Company under this Contract. Each Contract Option is more fully explained in the Accumulation Provisions.
Contract Option. In the event that the Project Developer and Transmission Owner agree to utilize the Negotiated Contract Option as set forth in Schedule L, Appendix 1 to establish, subject to FERC acceptance, non-standard terms regarding cost responsibility, payment, billing and/or financing, the terms of sections 10.1 and/or
Contract Option. In the event that the Wholesale Market Participant and Transmission Owner agree to utilize the Negotiated Contract Option consistent with Section 3.2.2 in Attachment P, Appendix 2 of Part VI of the Tariff to establish, subject to FERC acceptance, non-standard terms regarding cost responsibility, payment, billing and/or financing, the terms of Sections 3.2.1 and/or 3.2.2 of this Section 3.2 shall be superseded to the extent required to conform to such negotiated terms, as stated in a schedule attached to this WMPA.
Contract Option. This contract can be amended to include additional work upon joint approval by the Village and RJN.
Contract Option. In the event that the Interconnection Customer and Interconnected Transmission Owner agree to utilize the Negotiated Contract Option provided by Section 83.2 .2 of Subpart F of Part IV of the Tariff to establish, subject to h1-RC acceptance, non- standard terms regarding cost responsibility, payment, billing and/or financing, the terms of Sections 10.1 and/or 10.2 of this Section 10.0 shall be superseded to the extent required to confoi in to such negotiated terms, as stated in a schedule attached to the parties' Construction Service Agreement relating to interconnection of the Customer Facility. Not Applicable
Contract Option. In the event that the Project Developer and Transmission Owner agree to utilize the Negotiated Contract Option as set forth in Schedule L, Appendix 1 to establish, subject to FERC acceptance, non-standard terms regarding cost responsibility, payment, billing and/or financing, the terms of sections 10.1 and/or 10.2 of this section 10.0 shall be superseded to the extent required to conform to such negotiated terms, as stated in Schedule L to this GIA. The Negotiated Option can only be used in connection with a Network Upgrade subject to the Network Upgrade Cost Responsibility Agreement all Project Developers and the relevant Transmission Owner agree.
Contract Option. Effective on the Closing Date, Momenta hereby grants to the Sandoz Parties an option to have Momenta assign to either Sandoz Party, at no additional consideration, all Momenta’s right title and interest in and to the Licensed IP Contracts (the “Contract Option”). In order to exercise the Contract Option, Sandoz AG must provide written notice to Momenta (a “Contract Option Notice”) at any time following the Closing Date and prior to July 30, 2020 (the “Contract Option Period”).
4.3.1.1. In the event a Sandoz Party provides Momenta with a Contract Option Notice prior to the expiry of the Contract Option Period, then within ten (10) Business Days of Momenta’s receipt of the Contract Option Notice, such Sandoz Party and Momenta shall execute a Contract Assignment in the form attached as Exhibit B (the “Contract Assignment”), with such Contract Assignment being effective upon the later of the Closing Date or the date Momenta received the Contract Option Notice.
4.3.1.2. As of the effective date of the Contract Assignment, the Licensed IP Contracts shall be deemed to be Transferred Assets for all purposes of this Agreement.