Common use of Second Maintenance Term Clause in Contracts

Second Maintenance Term. 4.2.1 If TxDOT issues Maintenance NTP1, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement for an additional five years (the “Second Maintenance Term”). The Second Maintenance Term shall commence as of the expiration of the Initial Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.2.2 If TxDOT elects to exercise its option rights for a Second Maintenance Term, TxDOT shall issue Maintenance NTP2 on or before 90 Days prior to the scheduled expiration of the Initial Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Second Maintenance Term if it did not issue Maintenance NTP1. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP2.