Common use of Contract Term and Renewal Clause in Contracts

Contract Term and Renewal. The contract with the Rate Consultant will be for a term of two (2) years with the option of extending the contract for additional two (2) year terms. The Utility Policy Committee shall determine whether the Rate Consultant’s contract shall be extended for additional two (2) year terms. The contract term shall expire in April. The Utility Policy Committee shall make the determination whether to extend the Rate Consultant’s contract within sixty (60) days after the end of the previous two (2) year term. At the termination of the contract, including any extension, the advertisement, interview and selection process set forth in this Article shall be repeated. Nothing in this Article shall be construed to prohibit the City from terminating the contract with the Rate Consultant for a material breach of the terms of the contract prior to the end of its 2-year term or any extension of its term.

Contract Term and Renewal. The contract with the Rate Consultant will be for a term of two (2) years with the option of extending the contract for additional two (2) year terms. The Utility U tility Policy Committee shall determine whether the Rate Consultant’s contract shall be extended for additional two (2) year terms. The contract term shall expire in April. The Utility Policy Committee shall make the determination whether to extend the Rate Consultant’s contract within sixty (60) days after the end of the previous two (2) year term. At the termination of the contract, including any extension, the advertisement, interview and selection process set forth in this Article shall be repeated. Nothing in this Article shall be construed to prohibit the City from terminating the contract with the Rate Consultant for a material breach of the terms of the contract prior to the end of its 2-year term or any extension of its term.