OPTION FOR CONTINUED SERVICE. The Company may extend the Expiration Date of this Agreement for one or more periods not to exceed ten (10) years, in total. The Company shall notify the Agency and the District, in writing at least 365 days prior to the then-applicable Expiration Date, of its intent to extend the Expiration Date and such notice shall indicate the new Expiration Date. At the election of any Party, the Parties will meet and confer to consider the Parties’ interest in any additional extension or renewal of an arrangement similar to this Agreement. Such meet-and-confer sessions should take place approximately five (5) years prior to the then-applicable Expiration Date; provided, however, if pursuant to an extension under this Section 5 the new Expiration Date is less than five (5) years following the Company’s notification of the extension, the Parties will meet and confer within a reasonable time prior to the new Expiration Date.
Appears in 9 contracts
Samples: Water Purchase Agreement, Purchase Agreement, Water Purchase Agreement
