Common use of Option Periods Clause in Contracts

Option Periods. If DC Water determines it to be advantageous, it may extend the term of the contract for four (4) one (1) year periods or a fraction of a year. Option to Extend the Term of the Contract: DC Water may extend the term of this contract by written notice to the Contractor before the expiration of the contract; provided that the DC Water gives the Contractor a preliminary written notice of its intent to extend at least thirty days before the contract expires. The preliminary notice does not commit DC Water to an extension. The exercise of this option is also subject to the availability of funds at the time of the exercise of the option. The pricing and deliverables for the option period shall be determined at the time the option is exercised. If DC Water exercises this option, the extended contract shall be considered to include this option provision. The total duration of this contract including the exercise of any options under this provision shall not exceed five (5) years.

Option Periods. If DC Water determines it to be advantageous, it may extend the term of the contract for four two (42) one (1) year one-month periods or a fraction of a year. Option to Extend the Term of the Contract: DC Water may extend the term of this contract by written notice to the Contractor before the expiration of the contract; provided that the DC Water gives the Contractor a preliminary written notice of its intent to extend at least thirty days before the contract expires. The preliminary notice does not commit DC Water to an extension. The exercise of this option is also subject to the availability of funds at the time of the exercise of the option. The pricing and deliverables for the option period shall be determined at the time the option is exercised. If DC Water exercises this option, the extended contract shall be considered to include this option provision. The total duration of this contract including the exercise of any options under this provision shall not exceed five eight (5) years8) months.

Option Periods. If DC Water determines it to be advantageous, it may extend the term of the contract for four (4) one (1) one-year periods or a fraction of a year. Option to Extend the Term of the Contract: DC Water may extend the term of this contract by written notice to the Contractor before the expiration of the contract; provided that the DC Water gives the Contractor a preliminary written notice of its intent to extend at least thirty days before the contract expires. The preliminary notice does not commit DC Water to an extension. The exercise of this option is also subject to the availability of funds at the time of the exercise of the option. The pricing and deliverables for the option period shall be determined at the time the option is exercised. If DC Water exercises this option, the extended contract shall be considered to include this option provision. The total duration of this contract including the exercise of any options under this provision shall not exceed five (5) years.