Option Periods. (delete this clause if not applicable)
i. This Agreement may be renewed, at the option of the College, for [no.] additional [no.] year terms.
ii. The College may exercise its first option by written notice to the Contractor, not later than December 1, [year] if it so desires to extend the Agreement for the time period from [date] through [date].
iii. The College may exercise its second option by written notice to the Contractor from the Department not later than December 1, [year] if it so desires to extend the Agreement for the time period from [date] through [date].
iv. Written notice of the College’s intent to exercise any option under this Agreement may be in the form of a letter issued by the College and countersigned by Contractor.
Option Periods. If DC Water determines it to be advantageous, it may extend the term of the contract for four (4) one (1) year periods or a fraction of a year. Option to Extend the Term of the Contract: DC Water may extend the term of this contract by written notice to the Contractor before the expiration of the contract; provided that the DC Water gives the Contractor a preliminary written notice of its intent to extend at least thirty days before the contract expires. The preliminary notice does not commit DC Water to an extension. The exercise of this option is also subject to the availability of funds at the time of the exercise of the option. The pricing and deliverables for the option period shall be determined at the time the option is exercised. If DC Water exercises this option, the extended contract shall be considered to include this option provision. The total duration of this contract including the exercise of any options under this provision shall not exceed five (5) years.
Option Periods. The Contract shall have two (2), five (5) year option periods effective November 1, 2042 and November 1, 2047 (the “Option Periods”). The Option Periods will automatically commence unless the Airports Authority provides written notice to the Contractor prior to November 1, 2041 (initial 5-year Option Period) or November 1, 2046 (second 5-year Option Period).
Option Periods. If DC Water determines it to be advantageous, it may extend the term of the contract for two (2) one-year periods or a fraction of a year.
Option Periods. Tenant shall have three (3) options to extend the Initial Term for seven (7) years each (each such option period, an “Option” and, collectively with the Initial Term, the “Term”). The Option must be exercised if at all by written notice (the “Option Notice”) delivered by Lessee to Lessor not less than six (6) months prior to the then-scheduled Expiration Date, provided, however, that the Option shall not be exercisable unless, as of the date of the Option Notice and at the then-scheduled Expiration Date, Lessee is not in default hereunder. In the event the Term of this Lease shall be extended under this Section, then all of the terms, covenants and conditions of the Lease shall remain unmodified and in full force and effect, except that each Option Period shall commence immediately upon the expiration of the Initial Term or prior Option Period, as applicable.
Option Periods. (a) In addition to the Primary Term of this Lease and in partial consideration of Tenant's entering into this Lease, Landlord hereby grants to Tenant an option to extend the term of this Lease for an additional period equal to five (5) years plus the number of months (if any), rounded to the nearest whole month by which the Rental Commencement Date precedes the Occupancy Commencement Date, commencing at the conclusion of the Primary Term (as such Primary Term may be extended pursuant to the provisions of Section 3.3(a)(iii) hereof) (hereinafter referred to as the "First Option Period") at the rental to be determined in accordance with Section 2.7(a) and (b) hereof, but otherwise upon the same terms and conditions as those set forth in this Lease.
(b) In addition to the Primary Term of this Lease and in addition to the First Option Period and in partial consideration of Tenant's entering into this Lease, Landlord hereby grants to Tenant an additional option to further extend the term of this Lease for an additional five (5) year period commencing at the conclusion of the First Option Period (hereinafter referred to as the "Second Option Period") at the rental to be determined in accordance with Section 2.7(a) and (c) hereof, but otherwise upon the same terms and conditions as those set forth in this Lease, together with any additions or amendments made for the First Option Period.
(c) [RESERVED.]
(d) [RESERVED.]
(i) The options under this Section 1.4 may be exercised solely at the discretion of Tenant. Tenant may exercise the option for the First Option Period by delivering written notice of such exercise to Landlord at any time prior to that date which precedes the conclusion of the Primary Term of this Lease by one (1) year (the "First Option Exercise Date"). If Tenant has not delivered to Landlord written notice of Tenant's exercise of the option for the First Option Period by the First Option Exercise Date, the options for the First Option Period and the Second Option Period under this Section 1.4 shall lapse and be deemed of no further effect.
(ii) Tenant may exercise the option for the Second Option Period by delivering written notice of such exercise to Landlord at any time during the First Option Period prior to that date which precedes the conclusion of the First Option Period by one (1) year (the "Second Option Exercise Date"). If Tenant has not delivered to Landlord written notice of Tenant's exercise of the option for the Second Option Period by...
Option Periods. AURA shall have the unilateral right to extend the term of this Contract up to a total performance period of [insert]. AURA may exercise its right to extend the Contract in multiple increments. Rates paid/applicable budgets during options periods shall be as agreed by the Parties and designated in Appendix 1. If no rate or budget has been negotiated for an option period, Contractor and AURA shall cooperate in good faith to set reasonable rates/budget commensurate with the rates/budget agreed for the base period, taking into account the nature of the work required during the option period.
Option Periods. On the Manager’s receipt of notice under Sections 8.3 and/or 8.4 (the date of such receipt is hereinafter referred to as the “Option Date”), the Manager shall promptly cause a copy of such notice to be sent to all Members. The Company shall then have the option, for a period ending thirty (30) calendar days following the determination of the Fair Market Value (the “Company’s Purchase Option Period”), to purchase the Membership Interest to which the option relates (the “Option Membership Interest”). Said purchase shall be at the Fair Market Value and on the terms set forth in Section 8.7 below. If the Company does not purchase all or any portion of the Option Membership Interest, then the Members shall each have that same option, in the same proportion that such Member’s Membership Interest bears to the total Membership Interests of all of the Members who choose to participate in that purchase, for a period of thirty (30) days following the expiration of the Company’s Purchase Option Period, to purchase the Option Membership Interest not purchased by the Company, on the same terms and conditions as apply to the Company; provided, however, that the Company and the participating Members may not, in the aggregate, purchase less than the entire Option Membership Interest. All transferees of Membership Interests shall hold such Membership Interests subject to all of the provisions of this Agreement.
Option Periods. The Airports Authority, at its sole discretion, may extend the Base Term for up to three (3) option periods of (1) year each (Option Period). The Airports Authority shall notify Contractor in writing whether it intends to exercise an Option Period no later than sixty (60) days prior to the expiration of the Operating Period.
