Common use of Term and Option Clause in Contracts

Term and Option. a. The Contract Period will be for a term concluding on 30 June <insert year> and will also include any extensions as referred to in clauses 4.2(b) and 4.2(c) below. This Contract continues for the Contract Period, unless terminated earlier in accordance with the provisions of this Contract. b. NAFC may at its discretion extend the Contract Period for up to two (2) terms of up to one year each. c. Regardless of any extensions to the Contract Period, this Contract will not continue beyond 30 June <insert year>. d. If NAFC elects to extend the Contract Period it will give written notice to the Contractor at least 2 months before the expiry date, exercising its option to extend the Contract Period.

Term and Option. a. The Contract Period will be for a term concluding on 30 June <insert year> 2017 and will also include any extensions as referred to in clauses 4.2(b) and 4.2(c) below. This Contract continues for the Contract Period, unless terminated earlier in accordance with the provisions of this Contract. b. NAFC may at its discretion extend the Contract Period for up to two (2) terms of up to one year each. c. Regardless of any extensions to the Contract Period, this Contract will not continue beyond 30 June <insert year>2019. d. If NAFC elects to extend the Contract Period it will give written notice to the Contractor at least 2 months before the expiry date, exercising its option to extend the Contract Period.

Term and Option. ‌ a. The Contract Period will be for a term concluding on 30 June <insert year> 2017 and will also include any extensions as referred to in clauses 4.2(b) and 4.2(c) below. This Contract continues for the Contract Period, unless terminated earlier in accordance with the provisions of this Contract. b. NAFC may at its discretion extend the Contract Period for up to two (2) terms of up to one year each. c. Regardless of any extensions to the Contract Period, this Contract will not continue beyond 30 June <insert year>2019. d. If NAFC elects to extend the Contract Period it will give written notice to the Contractor at least 2 months before the expiry date, exercising its option to extend the Contract Period.

Term and Option. a. The Contract Period will be for a term concluding on 30 June <insert year> 2016 and will also include any extensions as referred to in clauses 4.2(b) and 4.2(c) below. This Contract continues for the Contract Period, unless terminated earlier in accordance with the provisions of this Contract. b. NAFC may at its discretion extend the Contract Period for up to two (2) terms of up to one year each. c. Regardless of any extensions to the Contract Period, this Contract will not continue beyond 30 June <insert year>2018. d. If NAFC elects to extend the Contract Period it will give written notice to the Contractor at least 2 months before the expiry date, exercising its option to extend the Contract Period.