OPTION TO EXTEND AGREEMENT Sample Clauses

OPTION TO EXTEND AGREEMENT. When in the CITY’s best interest, this Agreement may be extended on a daily, month-to-month, annual, or other basis by modification pursuant to Section 19 of this Agreement. The initial term, plus any option to extend, shall not exceed a total of five (5) years.
Sample 1Sample 2Sample 3See All (27)
AutoNDA by SimpleDocs
OPTION TO EXTEND AGREEMENT. 19.1 At the end of the initial Term, Medical Center shall have the option to:
Sample 1Sample 2Sample 3See All (4)
OPTION TO EXTEND AGREEMENT. 25 Provider and Receiver agree to have their respective Responsible Individuals meet for an in-person meeting 26 at the Site to negotiate in good faith to attempt to extend the term of this Agreement. The Parties may elect 27 to extend the Term of this Agreement either under current or revised pricing in five (5) year increments. 28 Neither Party is obligated to agree to an extension of this Agreement. 29 Any extension of this Agreement shall be documented using an Amendment.
Sample 1Sample 2Sample 3See All (4)
OPTION TO EXTEND AGREEMENT. 18.1 If the Term has not been extended pursuant to Paragraph 15.2 above, Medical Center shall have the option at the end of the ten (10) year initial Term to:
Sample 1
OPTION TO EXTEND AGREEMENT. The Parties may, by mutual consent, extend the term of the Agreement. Each extension shall be one (1) year from the expiration of the previous term, or for another period of time as directed by the End Customer. The prices for the extension period shall be set as specified in the Contract. The total duration of this Agreement, including any extensions under this provision, shall not exceed the term of the ITSA Prime Contract.
Sample 1
OPTION TO EXTEND AGREEMENT. The following sentence shall be added to the final paragraph in Section 18. “ASHS shall be responsible for the removal of the Equipment at its sole cost upon expiration of the final Term of this Agreement. Such removal shall not occur less than thirty (30) days following termination or expiration of this Agreement.” CONFIDENTIAL TREATMENT REQUESTED UNDER 17 C.F.R. SECTIONS 200.80(b)(4) AND 240.24b-2. [*****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.
Sample 1
OPTION TO EXTEND AGREEMENT. Under Section 12.5 of the County Operations Agreement, the County and each Committed City shall independently have six (6) successive options to continue to commit its Committed City Waste to Contractor for an additional five (5) years per option. The County and/or each City seeking an extension must provide written notice of its decision to exercise each option no later than twelve (12) months prior to the expiration of the then-prior period under which the City’s Waste has been committed (e.g., the initial option must be exercised by the twenty-fourth (24th) year anniversary of the Effective Date). The exercise of the options shall be within the sole respective discretion of the County or City and the exercise of one option does not guaranty or mean that the succeeding option or options will be exercised; provided, however, that the subsequent options may not be exercised unless the immediately preceding option has been exercised. The terms of the County’s and each City’s six (6) successive options, assuming a Commencement Date in 2014, follow below: Option #1: Years 2039-2044 Option #2: Years 2044-2048 Option #3: Years 2049-2054 Option #4: Years 2054-2059 Option #5: Years 2059-2064 Option #6: Years 2064-2069
Sample 1
AutoNDA by SimpleDocs

Related to OPTION TO EXTEND AGREEMENT

  • Option to Extend Term Landlord will grant (1) Option to Extend the Lease term and all provisions contained in this Lease, except for the minimum monthly rent, for one three (3) year period ("Extended Term") following expiration of the initial term by giving notice of exercise of the Option ("Option Notice") to Landlord at lease one hundred fifty (150) days before the expiration of the initial term, provided that if Tenant is in default of a material term of this Lease beyond the applicable cure period on the date of giving Option Notice, the Option Notice shall be ineffective, or if Tenant is in default of a material term of this Lease beyond the applicable cure period on the day the Extended Term is to commence, the Extended Term shall not commence and this Lease shall expire at the end of the initial term. Landlord shall give Tenant its initial determination of the fair market rent either promptly after the receipt of Tenant's notice exercising Tenant's option to extend, or promptly after receiving a request for such determination prior to receipt of Tenant's exercise of its option if such request is received during the ninety (90) days prior to the date such option must be exercised. If Tenant disagrees with Landlord's initial designation of the Fair Market Rent, Landlord and Tenant agree to negotiate in good faith for a period of up to thirty (30) days following Tenant's receipt of Landlord's initial determination of Fair Market Rent in an effort to agree on the Fair Market Rent, and if the parties cannot agree upon the Fair Market Rent by the end of such thirty day period, then the Fair Market Rent shall be submitted to arbitration as follows: Within fifteen (15) days after the expiration of such thirty (30) day period, Landlord and Tenant shall either agree on the name of a single arbitrator or each give notice to the other specifying the name and address of the arbitrator each has chosen. The two arbitrators so chosen shall meet within ten (10) days after the second arbitrator is appointed and if, within twenty (20) days after the second arbitrator is appointed, the two arbitrators shall not agree upon a determination of the Fair Market Rent in

  • Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Commissioner of the Department of Administration and the State Budget Director in compliance with IC § 5-22-17-4. The term of the renewed contract may not be longer than the term of the original Contract.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!