Contract Extension Option Clause Samples
A Contract Extension Option is a provision that allows one or both parties to extend the duration of an existing contract beyond its original end date. Typically, this clause outlines the conditions under which the extension can be exercised, such as providing written notice within a specified timeframe or agreeing to certain terms for the extended period. Its core practical function is to provide flexibility and continuity in the contractual relationship, enabling parties to continue their collaboration without renegotiating a new agreement from scratch.
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Contract Extension Option. The City may extend this Contract once following the expiration of the contract term for up to 181 Calendar Days or until such time as a new contract has been awarded for the purpose of providing continuity of services and/or supply while procuring a replacement contract subject to acceptable performance by the Contractor and contingent upon the appropriation of sufficient funds. The CPO will give the Contractor notice of the City’s intent to exercise its option to renew the Contract for the approaching option period.
Contract Extension Option a. OHCA may choose to exercise an extension for up to 180 days beyond the final renewal option period at the Contract pricing rate; the extension shall be executed by mutual agreement. If this option is exercised, OHCA shall notify Contractor in writing prior to the Contract end date.
b. OHCA may choose to exercise subsequent extensions, up to 180 days each, by mutual agreement and at the Contract pricing rate, to facilitate the finalization of related terms and conditions of a new contract or as needed for transition to a new contractor.
Contract Extension Option. The City has the option to extend the term of this Contract for a single additional 60 - month term beyond the 60 - month term set forth above, subject to acceptable performance by the Contractor and contingent upon the appropriation of sufficient funds for the procurement of services provided for in this Contract. Before expiration of the then current term, the Chief Procurement Officer will give the Consultant notice, in writing, that the City is exercising its option to renew the Contract for the approaching option period. The date on which the Chief Procurement Officer gives notice is the date the notice is mailed, if it is mailed, or the date the notice is delivered, if sent by courier or messenger service. After notification, the Contract will be amended to reflect the term extension. The 181 day extension for the purposes of providing continuity of service, described in the Standard Terms and Conditions article of this Contract, may be exercised in lieu of an option period or following the exhaustion of all option periods and does not require formal amendment of the Contract.
Contract Extension Option. The City has the option to extend the term of this Contract for five additional 12-month terms or a single additional 60-month term beyond the 60-month term set forth above, subject to acceptable performance by the Contractor and contingent upon the appropriation of sufficient funds for the procurement of services provided for in this Contract. Before expiration of the then current term, the Chief Procurement Officer will give the Contractor notice, in writing, that the City is exercising its option to renew the Contract for the approaching option period. The date on which the Chief Procurement Officer gives notice is the date the notice is mailed, if it is mailed, or the date the notice is delivered, if sent by courier or messenger service. The 181-day extension for the purposes of providing continuity of service, described in the Standard Terms and Conditions article of this Contract, may be exercised in lieu of an option period or following the exhaustion of all option periods and does not require formal amendment of the Contract.
Contract Extension Option. The City has the option to unilaterally extend the term of this Contract prior to the expiration of the initial Term, for up to thirty six (36) months, subject to acceptable performance by the Consultant and contingent upon the appropriation of sufficient funds. The option may be exercised as a single thirty-six month extension or as up to three separate extensions, each with a term no less than twelve months. Before expiration of the then current term, the Chief Procurement Officer will give the Consultant notice, in writing, that the City is exercising its option to renew the Contract for the approaching option period. The date on which the Chief Procurement Officer gives notice is the date the notice is mailed, if it is mailed, or the date the notice is delivered, if sent by courier or messenger service. The City may also extend this Contract once following the expiration of the contract term for up to 181 Calendar Days or until such time as a new contract has been awarded for the purpose of providing continuity of services and/or supply while procuring a replacement contract subject to acceptable performance by the Consultant and contingent upon the appropriation of sufficient funds. The CPO will give the Consultant notice of the City’s intent to exercise its option to renew the Contract for the approaching option period.
Contract Extension Option. The City has the option to extend the term of this Contract for two additional two additional twelve (12) month terms or a single additional twenty-four (24) month term beyond the thirty-six (36) month term set forth above, subject to acceptable performance by the Contractor and contingent upon the appropriation of sufficient funds for the procurement of services provided for in this Contract. The City may extend this Contract once following the expiration of the contract term for up to 181 Calendar Days or until such time as a new contract has been awarded for the purpose of providing continuity of services and/or supply while procuring a replacement contract subject to acceptable performance by the Contractor and contingent upon the appropriation of sufficient funds. The CPO will give the Contractor notice of the City’s intent to exercise its option to renew the Contract for the approaching option period.
Contract Extension Option. The Contractor and the Village hereby agree that the Village and Contractor shall have an option to extend the term of this Contract for an additional two (2) year period, from April 1, 2024 to March 31, 2026, under the same terms and conditions as set forth in this Contract (hereinafter the "Option"), provided the Village and Contractor agree in writing, on or before December 31, 2023, to exercise said Option.