Common use of Phase 2 Clause in Contracts

Phase 2. The Global Fund may decide, in its sole discretion, to extend the Program Term beyond the Phase 1 Ending Date (a “Phase 2 Approval”). If the Global Fund issues a Phase 2 Approval, the parties shall execute an amendment to this Agreement and the “Program Term” shall automatically be extended to the Phase 2 Ending Date (indicated in block 7 the face sheet of this Agreement) or any other date specified by the Global Fund in its Phase 2 Approval.

Phase 2. The Global Fund may decide, in its sole discretion, to extend the Program Term beyond the Phase 1 Ending Date and commit funding for Phase 2 of the Program (a “Phase 2 Approval”). If the Global Fund issues a Phase 2 Approval, the parties shall execute an amendment to this Agreement and the “Program Term” shall automatically be extended to the Phase 2 Ending Date (indicated in block 7 the face sheet of this Agreement) or any other date specified by the Global Fund in its Phase 2 Approval.