OPTION TO EXTEND CONTRACT TERM Sample Clauses

OPTION TO EXTEND CONTRACT TERM. The Authority shall have the unilateral right and option to extend the Contract for up to three (3) option periods for a twelve (12) month duration each at the option prices set forth in Exhibit A - Pricing Schedule upon written notice to the Contractor.
AutoNDA by SimpleDocs
OPTION TO EXTEND CONTRACT TERM. Xxxxx XXXX may exercise the option to extend the contract term for 12 months. Xxxxx XXXX will have two one-year (1 year) options. Xxxxx XXXX can exercise the option unilaterally six months prior to the expiration date of 07/14/21 with written notice. Any options exercised within the 6 months prior to the expiration must be done by mutual written agreement by both parties.
OPTION TO EXTEND CONTRACT TERM b. This contract term shall be extended from February 15, 2022 to February 14, 2023 at the pricing identified under Exhibit A-1, Revised-1, Pricing Schedule, Section 7D. Fully Burdened Labor Rates Used to Negotiate Task Orders - Option Year 2 (Year of the Contract) including all Subconsultants as follows:
OPTION TO EXTEND CONTRACT TERM. The Authority shall have the unilateral right and option, upon written notice to the Contractor, to extend the Contract term for up to one (1) year after Authority approval of the full vehicle wrap of the fifty-one (51) production BRT Vehicles (Line Items 1-4 in Subsection 6.A., BRT Vehicle Full Wrap, in Exhibit A, Pricing Schedule) to acquire spare parts in accordance with Line Item 1 in Subsection 6.B., Optional Spare Parts, in Exhibit A.
OPTION TO EXTEND CONTRACT TERM. 2. The term of this contract is hereby extended to March 31, 2022. For and in consideration of the amount stated above, which is the final contract modification amount agreed to by both parties, the receipt of and sufficiency of which is hereby acknowledged and confessed. The contractor has released, acquitted, and forever discharged and by the presents does for itself, its successors and assigns release, acquit and forever discharge Capital Metropolitan Transportation Authority (Capital Metro) from and against any claims, debts, demands, or cause of action which the contractor has or may have had a result of furnishing labor, supplies, or materials for the change orders stated above. This modification may be executed in multiple originals, and an executed facsimile shall have the same force and effect as an original document. ~~~END OF MODIFICATION # 1~~~ EXHIBIT A-REVISED-1 PRICING SCHEDULE RFP 305833 THE OFFEROR IS REQUIRED TO SIGN AND DATE EACH PAGE OF THIS SCHEDULE
OPTION TO EXTEND CONTRACT TERM. GRTC shall have the unilateral right and option to extend the Contract for up to two (2) option periods for a twelve (12) month duration each at the option prices set forth in Exhibit A - Pricing Schedule upon written notice to the Contractor.
OPTION TO EXTEND CONTRACT TERM. The Authority shall have the unilateral right and option to extend the Contract for up to two option periods of 12- months in duration each. for a thirty-six (36) month duration each or any combination of months once or more than once within each option period at the option prices set forth in Exhibit A-Revised-5-Pricing Schedule, and Exhibit A-1-Revised-3-Cost Breakdown, upon written notice to Contractor. The Authority may extend the Contract incre- mentally within each option period, so that the Contract may be extended for less than 36 months, multiple times within one option period. For example, the Authority may extend the Contract by 12 months three (3) times during the first option period.
AutoNDA by SimpleDocs
OPTION TO EXTEND CONTRACT TERM. Xxxxx X.X.

Related to OPTION TO EXTEND CONTRACT TERM

  • Option to Extend Upon expiration of the primary term of this Lease, Tenant is granted an option to extend the term of this Lease for one (1) additional sixty (60) month period, with the same terms and conditions as are included in this Lease, subject, however, to renegotiation of the rent provided in paragraph 4 of this Lease. The primary term and the extension terms will be collectively referred to in this Lease as the “term.” Tenant shall notify Landlord within not less than one hundred twenty (120) days prior to the expiration of the primary term of this Lease or prior to the expiration of each extension term of Tenant’s exercise of its option to extend this Lease, provided that in the circumstances described in paragraph 13, the options to extend the term may be exercised earlier as provided in paragraph 13, and if the option to extend is exercised earlier as provided in paragraph 13, nevertheless, the rental payable as provided in paragraph 4 shall be determined at the time and in the manner provided in paragraph 4 and this paragraph 3. During the following sixty (60) day period, Tenant and Landlord shall negotiate and arrive at an agreement or disagreement of the amount of rent to be paid during the applicable extension term. If Landlord and Tenant agree upon the rent to be paid during the applicable extension term, Landlord and Tenant shall at the end of the sixty (60) day period enter into a new written lease or an amendment agreement setting forth the amount of rental Tenant shall be required to pay pursuant paragraph 4 for the applicable extension term and any other additional terms to which Landlord and Tenant have agreed. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, a fair market appraisal comparison of comparable properties will be completed by an independent party upon which the Landlord and Tenant may use to negotiate the amount of rent to be paid during the applicable extension term. If Tenant and Landlord fail to agree upon the rent to be paid during the applicable extension term during the sixty (60) day period of negotiations, either Landlord or Tenant may, by written notice to the other party given within the ensuing thirty (30) day period, elect to invoke the arbitration provisions of this Lease to determine the rent Tenant shall be required to pay pursuant to paragraph 4 for the applicable extension term.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

Time is Money Join Law Insider Premium to draft better contracts faster.