Extensions of Agreement. 5.1 Subject to the Industrial Relations Xxx 0000 and the parties’ rights under clauses 6 and 7, this agreement is intended to operate for five years from the date on which the agreement commences under the Act, with its terms and conditions therefore continuing for the balance of such period after expiry of the nominal three-year period of operation.
Extensions of Agreement. If rentee desires to extending this agreement, rentee must give AMV written notice at least 30 days before the original return date. Rentee shall he liable to pay all rental charges through the date of termination of this lease or the expiration of Rentee's 30-day written notice of termination, WHICHEVER LATER.
Extensions of Agreement. If the SFMTA exercises the option to extend the Agreement as provided in Section 2, then no later than the first Day of the extended term Contractor must provide a new letter of credit in the amount of $5,000,000 for the duration of any extension of the term of this Agreement.
Extensions of Agreement. If the SFMTA exercises the option to extend the Agreement as provided in Section 2, then no later than the first Day of the extended term Contractor must provide a performance bond in the amount of $10,000,000 for the duration of any extension of the term of this Agreement.
Extensions of Agreement. Should the City exercise the option to extend the Agreement as provided in Section 15.2, Contractor shall provide a letter of credit in the amount of $2,000,000 for the term of the option and throughout the performance of Contractor’s remaining obligations under this Agreement.
