Common use of Option to Extend Clause in Contracts

Option to Extend. For the purposes of clause 3.2 of the Agreement, and to the extent that an extension period is stated in this Schedule, the parties acknowledge and agree that: (a) Our right to extend under clause 3.2 of the Agreement is an option to extend the Term for the extension period; and (b) We may exercise that option by notifying You no later than 30 days prior to the expiry of the Initial Term, in writing, that We wish to exercise it.

Option to Extend. For the purposes of clause 3.2 of the Agreement, and to the extent that an extension period is stated in this Schedule, the parties acknowledge and agree thatagree: (a) that Our right to extend under clause 3.2 of the Agreement is an option to extend the Term for the extension period; and (b) that We may exercise that option by notifying You no later than 30 days prior to the expiry of the Initial Term, in writing, that We wish to exercise it.