Option Periods on the same terms and conditions applicable to the Initial Contract Period except as otherwise provided herein. Further, in the event The Record Company releases four (4) albums featuring performances of The Artist in five (5) years from the date of execution of this Agreement, The Record Company shall have the option to extend the term of this Agreement for a fourth (4th ) Option Period on the same terms and conditions applicable to the Initial Contract Period, except as otherwise provided herein. Each option shall be exercised automatically unless written notice is sent by The Record Company prior to the expiration date of the Contract Period which is then in effect (the "Current Contract Period"). If The Record Company so advises The Artist in its exercise notice, such period will begin on the date of such exercise notice. Each of the Option Periods will end the later of (i) nine (9) months after the date of the Delivery to The Record Company of all Master Sound Recordings required in fulfillment of The Artist's Recording Commitment for each such Option Period or (ii) six (6) months after The Record Company's initial U.S. street date for the last Phonograph Record delivered by The Artist in fulfillment of The Artist's Recording Commitment for such Period. Notwithstanding the foregoing, in no event will any Option Period end earlier than twelve (12) months after the date of the commencement of such Period.

Option Periods shall have the meaning set forth in Section 26.1 hereof.

Option Periods means, jointly, the Call Option Periods and the Put Option Periods (and each of them, an “Option Period”).

Examples of Option Periods in a sentence

The Contracting Officer will consider the Contractor’s performance in meeting small business percentage goals and entering into the required Mentor-Protégé Agreement(s) when making a decision on the Option Period(s) authorization.
If the Contract provides for more than one Option Period, the same procedure shall apply with regard to extending the term of this Contract for succeeding Option Periods.
B.7 FEE STRUCTURE (a) The Contracting Officer reserves the unilateral discretion to allocate between 15 percent (%) and 25% of the Available Fee for the Base Period and Option Period(s) (if exercised), to each fiscal year as described in this Clause; and as adjusted in the Section B Clause entitled, Changes to Contract Cost and Contract Fee.
Total Task Order Ceiling, including the Base and all Option Periods by CLIN Number3.
Price adjustment during the Option Period(s) shall be pursuant to the clause entitled "Price Adjustment" in Part III hereof.

More Definitions of Option Periods

Option Periods means the Bayer Lead Series Option Period, the Bayer Development Candidate Option Period or the Recursion Option Period, as context requires.

Option Periods means the First Year Option Period, the Second Year Option Period and the Third Year Option Period.

Option Periods. For purposes of this Section, "

Option Periods are set forth in Section 2.2.

Option Periods shall have the meaning set forth in Section 31.1 hereof.

Option Periods is defined in Article 4.2.

Option Periods means 6 successive separate periods of 5 years each.