OPTION PROVISION Sample Clauses
An Option Provision is a contractual clause that grants one party the right, but not the obligation, to take a specific action under certain conditions. For example, it may allow a buyer to purchase additional goods at a set price within a defined period, or give a tenant the option to renew a lease. This clause provides flexibility and certainty by outlining the terms under which the option can be exercised, thereby helping parties plan for future contingencies and manage risk.
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OPTION PROVISION. Landlord does hereby grant to Tenant the exclusive right and option (the "Option") to purchase the Premises at the market value price determined by a commercial appraisal determining and setting forth the value of the Premises (“Purchase Price”) upon the terms and conditions as set forth herein;
OPTION PROVISION. Unless the Government exercises its option pursuant to the Option Clause set forth in ARTICLE I.3., the contract will consist only of the Base of the Statement of Work as defined in Sections C and F of the contract. Pursuant to clause 52.217-7 set forth in ARTICLE I.3. of this contract, the Government may, by unilateral contract modification, require the Contractor to deliver additional doses of MVA in accordance with the Statement of Work as 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 ARTICLE B.2.
OPTION PROVISION. Unless the Government exercises its option pursuant to the Option Clause set forth in SECTION I., the contract will consist only of the Base 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 set forth in SECTION I. of this 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 [Use for Cost-Reimbursement Contracts: estimated cost [plus fixed fee] of the contract will be increased as set forth in the ESTIMATED COST [PLUS FIXED FEE]/ Use for Fixed-Price Contracts: price of the contract will be increased asset forth in the OPTION PRICES] Article in SECTION B of this contract. Contract No. HHSN261201300060C NCI Control No. N43CO-2013-00060 Modification No. 4
OPTION PROVISION. Employee is eligible to participate in Employer's option program, as may be formulated from time to time by Employer's Board of Directors in its sole discretion, and in accordance with such program as it is made available to Employer's senior executives.
OPTION PROVISION. Unless the Government exercises its option pursuant to the Option Clause set forth in ARTICLE 1.3., the contract will consist only the Base Contract of the Statement of Work as defined in Sections C and F of the contract. Pursuant to clause 52.217-6 set forth in ARTICLE 1.3. of this contract, the Government may, by unilateral contract modification, require the Contractor to perform Optional Studies as described in Section A.(2) of the Statement of Work as also defined in Sections C and F of the contract. If the Government exercises these options, 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 ARTICLE B.2. and the level of effort will be increased as set forth in ARTICLE F.2.depending on the number of additional studies needed. Contract No. N01 -ES-25497
OPTION PROVISION. Unless the Government exercises its option pursuant to the Option Clause set forth in ARTICLE I.3., the contract will consist only of Year I of the Statement of Work (as detailed in Sections B.2. and B.3.) and the Five-year Licensing and Technology Transfer of the Adenovector Manufacturing Process as defined in Sections C and F of the contract. Pursuant to clause 52.217-9 set forth in ARTICLE I.3. of this contract, the Government may, by unilateral contract modification, require the Contractor to perform Contract Year(s) II, III, IV, and V of the Statement of Work as also defined in Sections C and F of this 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 price and/or cost plus fixed fee of the contract will be increased as set forth in Article B.2. and B.3.