Common use of DURATION OF CONTRACT AND EXTENSION OF TERM Clause in Contracts

DURATION OF CONTRACT AND EXTENSION OF TERM. This Contract shall become effective on the date on which it is signed by the last Party and shall terminate on February 28, 2025, or upon the completion of all Milestones listed in Attachment A and required closeout procedures, whichever occurs first (“Contract Period”). Developer must meet all Milestones identified in Attachment A. Developer’s failure to meet any Milestone may result in suspension of payment or termination under Sections 3.02, 3.03, or 3.04, below. Upon receipt of a written request and acceptable justification from Developer, the GLO, at its discretion, may agree to amend this Contract to extend the Contract Period one time for a period of up to two years. Any request for extension must be received by the GLO at least sixty (60) days before the original termination date of this Contract and, if approved, such extension shall be documented in a written Amendment.

Appears in 3 contracts

Samples: Grant Agreement, Grant Agreement, Grant Agreement

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DURATION OF CONTRACT AND EXTENSION OF TERM. This Contract shall become effective on the date on which it is signed by the last Party and shall terminate on February 28, 20252026, or upon the completion of all Milestones listed in Attachment A and required closeout procedures, whichever occurs first (“Contract Period”). Developer must meet all Milestones identified in Attachment A. Developer’s failure to meet any Milestone may result in suspension of payment or termination under Sections 3.02, 3.03, or 3.04, below. Upon receipt of a written request and acceptable justification from Developer, the GLO, at its discretion, may agree to amend this Contract to extend the Contract Period one time for a period of up to two years. Any request for extension must be received by the GLO at least sixty (60) days before the original termination date of this Contract and, if approved, such extension shall be documented in a written Amendment.

Appears in 1 contract

Samples: Grant Agreement

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