Option I definition
Examples of Option I in a sentence
At the end of the fifth year of this contract and prior to exercising Option I, if the Contractor’s size standard changes from a small business concern to other than a small business concern and the Contractor has active task orders, including the exercise of options and modifications at the task order level, the Contractor shall continue performance of active task orders, but not have their OASIS SB Option exercised.
Within 60 to 120 days prior to the end of the fifth year and prior to exercising Option I The Contractor shall re-represent its size status in accordance with the size standard in effect at the time of this re- representation that corresponds to the North American Industry Classification System (NAICS) code assigned to the Pool(s) that corresponds to the Contractor’s respective OASIS SB Multiple Award Contract Number(s).
An unlimited number of task orders may be placed under OASIS SB for the term of OASIS SB, including Option I, if exercised.
There is no maximum dollar ceiling for OASIS, including Option I, if exercised.
Failure to attain the expected number of task order awards or estimated value prior to the exercise of Option I may result in a Contractor being Off-Ramped (See Section H.16.); the minimum requirements of this section may be waived at the sole discretion of the OASIS SB Contracting Officer.