Contract Extension Options Clause Samples
The Contract Extension Options clause allows parties to extend the duration of an existing agreement beyond its original end date. Typically, this clause outlines the conditions under which an 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 for both parties, enabling them to continue their business relationship without renegotiating a new contract, thereby ensuring continuity and reducing administrative burden.
POPULAR SAMPLE Copied 2 times
Contract Extension Options. The CHA, at its sole discretion, may extend this Agreement for 1 additional 1-year option period(s). Any extension shall be under the same terms and conditions as this original Agreement. The Agreement shall be modified to reflect the time extension in accordance with the provisions of Section 9.03 of this Agreement.
Contract Extension Options. In consideration of the award of this Contract the Contractor hereby grants the Authority the following irrevocable Contract Extension Option(s):
Contract Extension Options. ⬜ a. Contract extension For two (2) annual extension options of one (1) year each, the Contract may be extended under the same terms and conditions and at the prices set out in the price schedule. No later than twelve (12) months prior to the scheduled end of the Contract, the Signatory Body may send the Successful Bidder notice of a one (1) year extension. The Successful Bidder must give its consent in writing within fourteen (14) days. The Contract will terminate on the scheduled date without further notice if the Successful Bidder fails to consent.
⬜ b. Portion of the Contract governing collection and transportation services in Outdoor Public Places (if applicable) The portion of the Contract governing collection and transportation services in Outdoor Public Places ends on September 30, 2027. It may be extended under the same terms and conditions, at the prices set out in the price schedule, via annual extension options of a maximum of one (1) year, but that do not exceed the Contract term. The Signatory Body will, with the prior authorization from ÉEQ, have the privilege of accepting or refusing the extension and will advise the Successful Bidder thereof not later than ninety (90) days before September 30, 2027. Should the board of the Signatory Body not confirm an extension within this period, this portion of the Contract will terminate on the scheduled date without further notice.
Contract Extension Options. 22.4.1 In addition to the Schedule of Requirements, the Contractor hereby grants to the Authority the following irrevocable option in accordance with the terms and conditions set out in this contract or any such subsequent contract or contracts where such options are taken up, it being agreed that the Authority has no obligation to exercise such option.
22.4.2 Option 1: Additional contract year duration from 1st April 2026 to 31st March 2027 using the Firm Prices already detailed at Appendix 1 to Schedule 2 provided that the Authority exercises such an option by no later than 31st March 2026.
22.4.3 The Authority shall have the right to exercise the options by the specified dates or within such further period as corresponds to the aggregate of any period(s):
22.4.3.1 of delay in the delivery programme whether constituting any breach of the Contract or resulting from any force majeure event, or