Rate Extension Clause Samples

A Rate Extension clause allows for the continuation of an agreed-upon rate beyond the original contract term under specified conditions. Typically, this clause outlines the circumstances under which the rate can be extended, such as mutual agreement or automatic renewal, and may set limits on the duration or frequency of such extensions. Its core practical function is to provide predictability and stability in pricing for both parties, reducing the need for renegotiation and minimizing disruptions to ongoing business relationships.
Rate Extension. Only final and predetermined rates may be eligible for consideration of rate extensions. Requests for rate extensions of a current rate will be reviewed on a case-by-case basis. If an extension is granted, the non-Federal entity may not request a rate review until the extension period ends. In the last year of a rate extension period, the non-Federal entity must submit a new rate proposal for the next fiscal period.
View SourceView Similar (65)
Rate Extension. The Group Rate shall be offered for a period of five (5) days before and five (5) days after the Meeting Dates, subject to availability of rooms at the time of reservation to accommodate those who wish to extend their visits. These room nights will also be credited back to the Room Block.
View SourceView Similar (11)
Rate Extension. The Group Rate will be offered from Month Day, Year to Month Day, Year, subject to availability of rooms at the time of reservation to accommodate those who wish to extend their visits. These nights will be credited back to the Room Block. Rate Protection: Hotel agrees that Group’s single/double Group Rate will be no higher than the average daily single/double rate of any other like group, “like” shall be defined as: Groups whose meeting dates fall over the same period (i.e. from seven (7) days pre-event to seven (7) days post-event. Exceptions include holiday periods and changes in selling season. Groups having a similar revenue portfolio (within 10% of that booked by Group). Groups having same arrival/departure pattern. Should it be determined that another group (meeting the parameters as stated above) is booked into the Hotel with a lower net rate, the Hotel shall be obligated to match the net rate offered to the other group.
View SourceView Similar (3)

Related to Rate Extension

  • Due Date Extension If any payment of principal or Yield with respect to any Advance falls due on a day which is not a Business Day, then such due date shall be extended to the next following Business Day, and additional Yield shall accrue and be payable for the period of such extension at the rate applicable to such Advance.

  • Time Extension CONTRACTOR shall provide a time extension request on completion of Task Order for delays caused by others (Permitting Agencies, COUNTY or Contract Cities, or unforeseen conditions such as inclement weather, etc.) and at no fault by CONTRACTOR, subject to approval by COUNTY. COUNTY will review the request and determine in its sole discretion whether the situation warrant a time extension at no-cost or with costs. If CONTRACTOR completes the Task Order beyond the stipulated completion date without COUNTY’s specific written approval for time extension, CONTRACTOR will be subject to liquidated damages and may be construed as non-responsive, which may affect CONTRACTOR for considerations for future Task Orders or projects.

  • Time Extensions 2.03.1 If Contractor requests an extension of time to complete its performance, then the Director, in consultation with the CPO, may, in his or her sole discretion, extend the time so long as the extension does not exceed 90 days. The extension must be in writing but does not require amendment of this Agreement. Contractor is not entitled to damages for delay(s) regardless of the cause of the delay(s).

  • Extension Term The Term of this Lease of all of the Premises may be extended for the Extension Term by unconditional written notice from Tenant to Landlord at least nine (9) (but not more than twelve (12)) months before the end of the Initial Term, time being of the essence. If Tenant does not timely exercise this option, or if on the date of such notice or at the beginning of the Extension Term (i) a default by Tenant exists, or (ii) Tenant is not leasing one hundred percent (100%) of the Premises, or (iii) Tenant has made any Transfer under Article 13 (other than a Related Party Transfer), at Landlord’s option upon written notice to Tenant, Tenant’s right to extend the Term of this Lease shall irrevocably lapse and be void and of no further force and effect, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Initial Term. If Tenant fails to timely exercise its rights hereunder, then within seven (7) days of Landlord’s request therefor, Tenant shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant’s failure to exercise (or waiver of) such right, and Tenant’s failure to so execute and deliver such certification shall (without limiting Landlord’s remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the failure or waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. All references to the Term shall mean the [Initial] Term as it may be extended by the Extension Term. The Extension Term shall be on all the same terms and conditions except that the Base Rent for the Extension Term shall be as set forth below.