Option Clause Sample Clauses
Option Clause. Not applicable
Option Clause. The Purchaser reserves the right to increase or decrease the quantity to be ordered upto 50 percent of bid quantity at the time of placement of contract. The purchaser also reserves the right to increase the ordered quantity by up to 50% of the contracted quantity during the currency of the contract at the contracted rates. Bidders are bound to accept the orders accordingly.
Option Clause. MDL retains the right to increase/decrease the ordered quantity by up to 50 % at any time, till final delivery date (or the extended delivery date of the contract), by giving reasonable notice even though the quantity ordered initially has been supplied in full before the last date of the delivery period (or the extended delivery period).
Option Clause. The contract will have the option clause where in the buyer can exercise an option to procure an additional 50% of the original contracted quantity in accordance with the terms and conditions of present LP. It will be entirely at the discretion of the buyer to exercise this option.
Option Clause. If any patent rights, trade secret rights, or other intellectual property rights of a party are reflected in or included in any Confidential Information that is disclosed to the other party, the receiving party shall not thereby acquire any license or other rights under those patent rights, trade secret rights, or other intellectual property rights of the disclosing party; except that University shall have a limited license under any such rights of Sponsor, this license being limited to University's activities in performing the Project.
Option Clause. It is agreed that City will have the option to extend the contract for up to two (2) additional years, in one-year intervals. To exercise this option, the City shall serve notice 30 days prior to contract termination or to the end of any one-year extension. The Option to Extend will not be considered if funding is unavailable or if the contractor’s past performance is not within the industry standard.
Option Clause. Not Applicable to this tender. 13. RANKING OF BIDS & DETERMINATION OF L-1 BIDDER: Not Applicable.
Option Clause. To take care of any change in the requirement during the period of the Contract, the Buyer reserves the right to place orders for additional quantity up to a maximum of 50% of the originally contracted quantity at the same rate and terms of the contract.
Option Clause o The Purchaser reserves the right to increase or decrease the ordered quantity by up to 25% at the time of contract placement or during the contract duration, at the contracted rates.
Option Clause. The purchaser retains the right to place orders for additional quantity upto a maximum of 50% of the original contracted quantity at the same rate and conditions of the contract. This option will be available to the purchaser during the original period of contract. Variation may further incr/ decr beyond 50% in case of cost to cost item depending on the price quoted/ accepted for the basic item in first call or subsequent calls. Scheduled quantities will only be finalized after basic item rate is accepted, till then scheduled quantities will be tentative.