OPTION TO EXTEND THE TERM OF THE BASIC ORDERING AGREEMENT Sample Clauses
The "Option to Extend the Term of the Basic Ordering Agreement" clause grants one or both parties the right to prolong the duration of an existing agreement beyond its original expiration date. Typically, this clause outlines the conditions under which the extension can be exercised, such as providing written notice within a specified timeframe or agreeing to certain terms for the extended period. Its core practical function is to provide flexibility and continuity in the business relationship, allowing parties to continue their collaboration without renegotiating a new agreement, thereby reducing administrative burden and ensuring uninterrupted service or supply.
OPTION TO EXTEND THE TERM OF THE BASIC ORDERING AGREEMENT. The Library reserves the right to extend the term of this BOA with the mutual consent of the Contractor and as may be in the government’s best interest. The contracting officer shall provide written preliminary notice of intent to extend the term of the BOA at least 60 days prior to the expiration of the BOA. SECTION G - CONTRACT ADMINISTRATION DATA G.1 FEDLINK PROGRAM CONTRACT ADMINISTRATION