Common use of Optional Extension Term Clause in Contracts

Optional Extension Term. If Seller wishes to exercise the Optional Extension Term, Seller must submit a request for extension of the Initial Delivery Term to LADWP in writing, between one hundred and eighty (180) days and sixty (60) days prior to the tenth (10th) anniversary of the Commercial Operation Date. If request is not timely received, then this Agreement will terminate on the tenth (10th) anniversary of the Commercial Operation Date.

Appears in 4 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

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