Option Years. Option years shall be included as a year of the contract if the option had been fully exercised at the time of the tender, signing or renewal.
Option Years. The Department shall have the right to unilaterally extend the term of this agreement for four (4), one (1) year option periods or successive portions thereafter. The Department shall give the Contractor preliminary, written notice of its intent to exercise an option period at least thirty (30) days in advance of the contract expiration. The Contractor may waive the thirty (30) day notice requirement by providing a written waiver to the Contracting Department prior to the expiration of the Contract.
Option Years. In the event a Master Agreement and Purchase Agreement for a particular Procurement allow for the exercise of Option Years by the Purchaser, the details of such Option Years, including the process by which Purchasers must provide notice in writing to Metrolinx of its intention to exercise any Option Year, shall be described in the Terms of Reference and incorporated into the Master Agreement of the applicable Procurement. As described in Section 4.5 (Purchase Agreement with Supplier), Purchasers are required to (a) provide notice to Metrolinx of the intention to exercise an Option Year in accordance with the terms set out in the Master Agreement, and (b) the Purchaser and the Supplier must extend the existing Purchase Agreement or enter into a new Purchase Agreement for the duration of the Option Year. Notwithstanding anything in this Agreement to the contrary, in the event that no Purchaser notifies Metrolinx of its intention to exercise the Option Years under a Master Agreement, that Master Agreement shall be deemed to be at an end and shall expire at the completion of its stated term, unless the Steering Committee advises Metrolinx otherwise.
Option Years. Provided Lessee is and remains in full compliance with the terms and conditions of this Agreement, Lessee shall have the option to extend the Extension Term for two (2) additional consecutive one (1) year terms, referred to herein, respectively, as the “First Option Year” and the “Second Option Year.” The term of this Agreement shall automatically extend for the First Option Year unless Lessee provides written notice to the Port at least one hundred twenty (120) days prior to expiration of the Extension Term that Lessee declines the First Option Year, in which event the term of this Agreement shall expire upon expiration of the Extension Term. The term of this Agreement shall automatically extend for the Second Option Year unless Lessee provides written notice to the Port at least one hundred twenty (120) days prior to expiration of the First Option Term that Lessee declines the Second Option Year, in which event the term of this Agreement shall expire upon expiration of First Option Year. The First Option Year and the Second Option Year are from time to time referred to herein each as an “Option Year” and, collectively, as the “Option Years.”
Option Years. (a) Option Year is defined as a specified timeframe, in accordance with Section 8.0 below, in which the Work shall be carried out in accordance with the Contract requirements at the fixed all-inclusive prices stated in Section 4.0 RQQ Emergent - 05/28/2015 Page 5 of 7 herein solely if Metrolinx exercises its option to proceed with an Option Year in accordance with Sections 7.1(a) and 7.1(b) below.
Option Years. If Parties agree on a suitable Fellow for future years, the Port can extend the agreement for up to two (2) years by providing written notice in accordance with Section 11 below. Such written notice will describe the projects and initiatives for the year, as well as the lump sums to be paid by the Port, with such lump sums not exceeding an additional $10,000 above the previous year’s budget for a Keystone Fellow. If the Port pursues a Xxxxxxxx Fellow the Port contribution must meet the minimum requirement of $60,000. The total not to exceed amount to be paid by the Port under this Agreement shall be $150,000.00.
Option Years a. The Contractor grants to the Authority the irrevocable option to extend the Contract for a further 2 years in accordance with the Conditions set out in this Contract.
Option Years a. The Authority has the unilateral right to extend the contract by exercising the options subject to all terms and conditions herein.
Option Years. The Department shall have the right to unilaterally extend the term of this Agreement for four (4), one (1) year option periods (each an “Option Period”) or successive portions thereafter. The Department shall give the Design-Builder preliminary, written notice of its intent to exercise an option period at least thirty (30) days in advance of the expiration of the Agreement, provided that the Department will give the Deign-Builder a preliminary, written notice of its intent to exercise an option period at least thirty (30) days in advance of the Contract expiration. The preliminary notice does not commit the Department to an extension. The Design-Builder may waive the thirty (30) day preliminary notice requirement by providing a written waiver to the Contracting Officer prior to the expiration of the Design- Builder. Any option exercise by the Department shall be subject to the following conditions:
Option Years. Each Purchaser may exercise the Option Years contemplated by the Master Agreement and the ECS Purchase Agreement, by providing Metrolinx notice in writing of its intention to do so no later than forty-five (45) calendar days prior to the completion of the current term of the Master Agreement. Such notice may be provided by that Purchaser’s Member. As described in Section 4.5 (ECS Purchase Agreement with Supplier), Purchasers are required to renew their existing ECS Purchase Agreement or enter into a new ECS Purchase Agreement with the Supplier upon the exercise of any of the Option Years. Notwithstanding anything in this Agreement to the contrary, in the event that no Purchaser notifies Metrolinx of its intention to exercise the Option Years under the Master Agreement, the Master Agreement shall be deemed to be at an end and shall expire at the completion of its stated term, unless the Steering Committee advises Metrolinx otherwise.
