R ENEWAL TERM Clause Samples
The Renewal Term clause defines the conditions under which an agreement may be extended beyond its initial term. Typically, this clause specifies the length of each renewal period, the process for initiating renewal—such as requiring written notice from one or both parties—and any changes to terms that may apply during the renewal. Its core practical function is to provide a clear mechanism for continuing the contractual relationship, thereby preventing automatic expiration and ensuring both parties have the opportunity to reassess or renegotiate the agreement before it is extended.
R ENEWAL TERM. The Contract may be renewed, in whole or in part, for successive two (2) year renewal terms, pursuant to section 957.04(1)(h), F.S. Renewals shall be at the price indicated in the attached Price Sheet. The renewal must be in writing and signed by both Parties and is contingent upon satisfactory performance evaluations and subject to availability of funds. The renewal must meet the savings requirements set forth in section 957.07, F.S. In addition, the Contractor shall not charge any costs for renewal of the Contract. Pursuant to section 957.04(1)(h), F.S., the State is not obligated for any payments to the Contractor beyond current annual appropriations.