OPTIONS TO EXTEND CONTRACT TIME Sample Clauses

OPTIONS TO EXTEND CONTRACT TIME. A. Option 1 – At Owner's sole discretion CONTRACT TIME may be extended an additional year, through September 14, 2011, via amendment to this Agreement.
Sample 1
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OPTIONS TO EXTEND CONTRACT TIME. Contractor shall commence the Work only if and when directed in a written Notice-to-Proceed signed by the Owner. Substantial Completion, as defined herein, shall be achieved by the date included in the project-specific Task Order Amendment. In view of the difficulty or impossibility of determining the Owner's damages from delay, should the Contractor fail to achieve Substantial Completion by that date, as extended by any Change Orders to the project- specific Task Order Amendment, the Contractor agrees to pay and will pay to Owner, in addition to all other sums the Contractor may be obligated to pay pursuant to the Contract Documents, the sum identified in the project-specific Task Order Amendment for each calendar day of delay as liquidated damages for such delay and not as a penalty. Final Completion, as defined herein, shall be achieved within the number of days defined in the project-specific Task Order Amendment. Final Completion may be a date certain, or a defined number of days beyond the Substantial Completion Date set in the project-specific Task Order Amendment. Should the Contractor fail to achieve Final Completion by that date, as extended by any Change Orders to the project-specific Task Order Amendment, the Contractor agrees to pay and will pay to Owner, in addition to all other sums the Contractor may be obligated to pay pursuant to the Contract Documents, the sum identified in the project-specific Task Order Amendment for each calendar day of delay as liquidated damages for such delay and not as a penalty. These sums for Substantial Completion liquidated damages and Final Completion liquidated damages may be withheld from the balance of the Contract Price for a project- specific Task Order Amendment as payment becomes due. Should liquidated damages exceed the Contract Price for a project-specific Task Order Amendment due or to become due, then the Contractor shall pay the Owner the difference within 3 days of receipt of written demand. Work to be completed prior to a determination of Final Completion includes the fulfillment of all contractual requirements, including the completion of all punch list items and Substantial Completion and Final Completion Closeout documents for the project under the project-specific Task Order Amendment.
Sample 1

Related to OPTIONS TO EXTEND CONTRACT TIME

  • Options to Extend Provided there exists no uncured Event of Default under any of this Lease, the Related Leases and the Other Leases at the time Lessee exercises any option to extend (in accordance with this Article XVIII), Lessee will have the right to extend this Lease for two (2) periods of ten (10) years each (each such additional term shall be referred to herein as an "Extended Term"), commencing immediately following the end of the Initial Term or the immediately preceding Extended Term, as the case may be; provided, however, that notwithstanding anything stated in this Paragraph 18.1 or elsewhere in this Lease, Lessee shall not be entitled to exercise its option to extend this Lease for any Extended Term (and any such option to extend shall automatically expire and terminate) unless Lessee concurrently exercises its option to extend all the Related Leases for the same period, as provided in Article XVIII of the Related Leases. The Lease during any Extended Term shall be on the same terms and conditions as during the Initial Term, except that the Minimum Rent shall be determined as set forth in Paragraph 18.2 below. In the event Lessee desires to exercise any option to extend granted in this Article XVIII, Lessee shall give Landlord written notice ("Notice to Extend") not less than one hundred eighty (180) days prior to the expiration of the Initial Term or the immediately preceding Extended Term, as the case may be. If Lessee fails to give Lessor any such notice, then Lessor shall give Lessee written notice that Lessor has not received Lessee's Notice to Extend. If Lessee fails to deliver to Lessor the Notice to Extend within ten (10) days thereafter, Lessee shall be deemed to have elected not to extend this Lease and the Related Leases, such option to extend and all future options to extend granted in this Article XVIII or in the Related Leases shall be null and void and of no further force or effect.

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • OPTION TO EXTEND THE TERM OF THE CONTRACT (MAR 2000)

  • C4 Contract Price During Extension of the Initial Contract Period C4.1 Subject to the Pricing Schedule and the provision in clause F6 (Variation), the Contract Price shall apply for the Initial Contract Period and following an extension pursuant to clause F8 (Extension of Initial Contract Period), to the date of expiry of the extended period, or such earlier date of termination or partial termination of the agreement in accordance with the Law or the provisions of the Contract. C5 Euro

  • OPTION TO EXTEND SERVICES (NOV 1999) The Government may require continued performance of any services within the limits and at the rates specified in the contract. These rates may be adjusted only as a result of revisions to prevailing labor rates provided by the Secretary of Labor. The option provision may be exercised more than once, but the total extension of performance hereunder shall not exceed 6 months. The Contracting Officer may exercise the option by written notice to the Contractor within 30 days prior to expiration of the contract.

  • Option to Extend Upon expiration of the primary term of this Lease, Tenant is granted an option to extend the term of this Lease for one (1) additional sixty (60) month period, with the same terms and conditions as are included in this Lease, subject, however, to renegotiation of the rent provided in paragraph 4 of this Lease. The primary term and the extension terms will be collectively referred to in this Lease as the “term.” Tenant shall notify Landlord within not less than one hundred twenty (120) days prior to the expiration of the primary term of this Lease or prior to the expiration of each extension term of Tenant’s exercise of its option to extend this Lease, provided that in the circumstances described in paragraph 13, the options to extend the term may be exercised earlier as provided in paragraph 13, and if the option to extend is exercised earlier as provided in paragraph 13, nevertheless, the rental payable as provided in paragraph 4 shall be determined at the time and in the manner provided in paragraph 4 and this paragraph 3. During the following sixty (60) day period, Tenant and Landlord shall negotiate and arrive at an agreement or disagreement of the amount of rent to be paid during the applicable extension term. If Landlord and Tenant agree upon the rent to be paid during the applicable extension term, Landlord and Tenant shall at the end of the sixty (60) day period enter into a new written lease or an amendment agreement setting forth the amount of rental Tenant shall be required to pay pursuant paragraph 4 for the applicable extension term and any other additional terms to which Landlord and Tenant have agreed. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, a fair market appraisal comparison of comparable properties will be completed by an independent party upon which the Landlord and Tenant may use to negotiate the amount of rent to be paid during the applicable extension term. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, either Landlord or Tenant may, by written notice to the other party given within the ensuing thirty (30) day period, elect to invoke the arbitration provisions of this Lease to determine the rent Tenant shall be required to pay pursuant to paragraph 4 for the applicable extension term.

  • Term and Renewal Options The term of service is 24 months (Initial Term). Following the expiration of the Initial Term, service under this option will continue on a month-to-month basis subject to the terms and conditions, including rates and discounts set forth under this option (Extension Term). The Company or the Customer may elect to forego the Extension Term by providing the other party written notice at least 60 days prior to the expiration of the Initial Term. Either party may terminate service during the Extension Term by providing the other party at least 60 days prior written notice. Term shall mean the Initial Term and the Extension Term.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Obligations Beyond Contract Term The Contract shall remain in full force and effect to the end of the specified term or until terminated or canceled pursuant to the Contract. All obligations of the Contractor incurred or existing under the Contract as of the date of expiration, termination or cancellation will survive the termination, expiration or conclusion of the Contract.

  • Renewal Options The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.

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