Common use of Extending the Term (Option Phases Clause in Contracts

Extending the Term (Option Phases. 2 and 3) (i) The term of this Agreement may be extended within [INSERT NUMBER] months of the Effective Date in accordance with this Article II and Article III; provided that the Government gives the Performer a preliminary written notice of its intent to extend at least 30 days before the Agreement expires. The preliminary notice does not commit the Government to an extension. (ii) If this option is exercised, the extended Agreement shall be considered to include this Article. (iii) The total duration of this Agreement, including the exercise of any options under this Article, shall not exceed [INSERT NUMBER] months.

Appears in 2 contracts

Sources: Technology Investment Agreement, Technology Investment Agreement

Extending the Term (Option Phases. 2 and 3) (i) The term of this Agreement may be extended within [INSERT NUMBER] months prior to the end of the Effective Date in accordance with this Article II and Article IIIeach phase per Attachment 3; provided that the Government gives the Performer a preliminary written notice of its intent to extend at least 30 thirty (30) days before the Agreement expires. The preliminary notice does not commit the Government to an extension. (ii) If this option is exercised, the extended Agreement shall be considered to include this Article. (iii) The total duration of this Agreement, including the exercise of any options under this Article, shall not exceed [INSERT NUMBER] monthsthe total Agreement term set forth in Attachment 3.

Appears in 1 contract

Sources: Technology Investment Agreement