Option Clause. The Purchaser reserves the right to increase or decrease the quantity to be ordered upto 50 percent of bid quantity at the time of placement of contract. The purchaser also reserves the right to increase the ordered quantity by up to 50% of the contracted quantity during the currency of the contract at the contracted rates. Bidders are bound to accept the orders accordingly.
Option Clause. If any patent rights, trade secret rights, or other intellectual property rights of a party are reflected in or included in any Confidential Information that is disclosed to the other party, the receiving party shall not thereby acquire any license or other rights under those patent rights, trade secret rights, or other intellectual property rights of the disclosing party; except that University shall have a limited license under any such rights of Sponsor, this license being limited to University's activities in performing the Project.
Option Clause. It is agreed that City will have the option to extend the contract for up to two (2) additional years, in one-year intervals. To exercise this option, the City shall serve notice 30 days prior to contract termination or to the end of any one-year extension. The Option to Extend will not be considered if funding is unavailable or if the contractor’s past performance is not within the industry standard.
Option Clause. Unless the Government exercises its option pursuant to the Option Clause set forth in SECTION I, ARTICLE 1.1., the contract will consist only of the base period and/or any option period of the Statement of Work as defined in Sections C and F of the contract. Pursuant to FAR Clause 52.217-9, Option to Extend the Term of the Contract, the Government may, by unilateral contract modification, require the contractor to perform additional options set forth in the Statement of Work and also defined in Sections C and F of the contract. If the Government exercises this option, notice must be given at least 60 days prior to the expiration date of this contract and the estimated cost plus fixed fee of the contract will be increased as set forth in the ESTIMATED COST PLUS FIXED FEE price of the contract as noted in Article B.3 in SECTION B of this contract.
Option Clause. The buyer can increase or decrease the contract quantity or contract duration up to 50 percent at the time of issue of the contract. However, once the contract is issued, contract quantity or contract duration can only be increased up to 50 percent. Bidders are bound to accept the revised quantity or duration.
Option Clause. This contract has an Option Clause, wherein the Buyer can exercise an option to augment an additional 50% of the original contracted quantity in accordance with the same rate terms & conditions of the present contract. This will be applicable within the currency of contract. It will be entirely the discretion of the Buyer to exercise this option or not.
Option Clause. DTC reserves the right to increase or decrease the number of Vehicles by up to Twenty-Five percent (25%) of the quantity originally specified in the Schedule 7 at the time of signing of Concession Agreement or implementation of the project without any change in unit rate Concession Fee or other terms and conditions. The increase/decrease of quantity shall be incorporated through an amendment of the Concession Agreement. For the additional quantity, additional implementation period proportionate to the implementation period of the ordered quantity will be allowed excluding the period of pilot implementation. Similarly for the reduction in quantity, the implementation period shall be proportionately reduce excluding the period of pilot implementation. The Concessionaire will have to deposit performance security of additional amount separately within Thirty (30) days from the date of amendment of increased quantity in the same manner & method prescribed in Article 7 of the Concession Agreement.
Option Clause. Option to Extend the Term of the Contract Clause in Section I applies to the Option CLINs.
Option Clause. An AFL Club and a player shall not include provision for an option for a further period in any contract of employment and all such contracts shall expire on 31 October in the final year of the player's contract.
Option Clause. 5. Option clauses shall not be used in a manner which circumvents the provisions of the Agreement.
