Project Option Clause Samples
The Project Option clause grants one party the right to initiate, modify, or expand a project under specified conditions. Typically, this clause outlines the procedures for exercising the option, such as providing written notice within a certain timeframe or meeting predefined milestones. Its core practical function is to provide flexibility and certainty in project planning, allowing parties to adapt to changing needs or opportunities without renegotiating the entire agreement.
Project Option. 14.2.1.1 A unit member may apply for this program after fifteen (15) years of full-time satisfactory service in a position within the representation unit and achievement of age fifty (50). Participation is limited to a maximum of five (5) years.
14.2.1.2 Application for participation in this program must be made to the District Personnel Office no later than Feb. 1 of the school year preceding the desired year of participation. All applications will be considered at the same time. The Superintendent will recommend approval of applications by the Board based on District needs. If seniority of the applicants is the same and the applicants equally address District needs, a lottery shall be used. If an applicant is denied admittance to the program, the Superintendent shall inform the applicant in writing as to the reasons for the denial.
14.2.1.3 A participant selected for this program, pursuant to an annual employment contract, will be required to provide service to the District of up to thirty (30) school days each year at times established by the District in consultation with the participant. Illustrative examples of service under this program may include, but are not limited to, curriculum development, classroom and individualized instructions, in-service training, completion of surveys and research, substituting, or other educational services. Activities may include, but are not limited to: demonstration teaching, preparing staff development and in-service programs, assisting with testing programs, compiling and analyzing test data, orienting and assisting new teachers, designing and producing programs, preparing and updating curriculum guides, updating and revising School District publications, and developing or updating instructional materials.
14.2.1.4 Applicants selected to participate in the program shall be offered an initial contract for two (2) years, unless the applicant elects to participate in the program for only one (1) year. After the completion of the initial two (2) year contract, participants will be offered a renewal contract on an annual basis contingent on satisfactory performance and District need. Such renewals shall not exceed the five (5) year maximum provided in Section 14.2.1.1.
14.2.1.5 A contractual agreement will be entered into by and between the District and the participant; the participant will be compensated for each day, up to 30 days total, based upon the daily rate of the last
Project Option. The term of this Agreement shall commence on the date first hereinabove written and shall continue until all authorized work is approved by County or [INSERT DATE], whichever is earlier.
Project Option. Contractor shall be compensated for services performed in an amount not to exceed [INSERT $ AMOUNT]. The Contractor’s hourly rates are listed in Exhibit B, “Cost Proposal.” The County shall pay Contractor within thirty (30) days of receipt of an approved invoice. In the event payments equal the “not to exceed” amount, Contractor shall complete all services required under this Agreement without further compensation or cost reimbursement.
Project Option. Global shall have the exclusive first right (but not the obligation) to provide to Capital (or procure the provision of) all funding for the performance of a drug discovery and/or development project that Capital wishes to undertake (each a “Project”) in consideration for a share of the Net Revenue in respect of such Project (each a “Project Option”).
Project Option in this option the students will incorporate comments and required revisions from the instructors into a final version of the collaborative project document and end the programme at that point. Students will then obtain an MSc from OSU in Water Resources Policy and Management, specialization in Water Cooperation and Diplomacy and an UPEACE Master of Arts in Environment, Development and Peace, specialization in Environmental Security and Governance.
Project Option. If prior to or after the Closing, an SN Party or any of its Affiliates enters into an option to engage in the construction of or participation in a Project, the applicable SN Party shall sell, assign, transfer and convey to Buyer its interests in such option at the Closing (or, if such option arises after Closing, promptly after such option arises), subject to the same terms and conditions regarding Seller’s transfer of its interests in the Leased Premises hereunder and further provided that Seller’s obligations to transfer its interests in such options are conditioned on its receipt of Consent from any parties from which Consent is required under any such option, or under the SN Credit Agreement or the SN Indentures, as applicable.