Common use of Term and Renewal of Agreements Clause in Contracts

Term and Renewal of Agreements. The Agreement with TIPS is for two (2) years with an option for renewal for additional two (2) consecutive one- year terms years. Term of Agreement and Renewals The Agreement with TIPS is for approximately two (2) years with an option for renewal extension for an additional three (3) consecutive one (1) year terms. The first renewal extension year shall be automatic unless the awarded vendor notifies TIPS of its objection to the first additional one (1) year renewal extension. The second and third one (1) year renewal extension terms shall be with the consent of both parties. Consent for second and third one (1) year renewal extension terms shall be implied if TIPS provides notice by email to the primary contact of the awarded Vendor that the second or third one (1) year renewal extension term is offered by TIPS. TIPS may or may not exercise the available extension(s) provided in the original solicitation beyond the base term. Whether or not to offer the renewal extension years is at the sole discretion of TIPS.

Term and Renewal of Agreements. The Agreement with TIPS is for two (2) years with an option for renewal for additional two (2) consecutive one- one− year terms years. Term of Agreement and Renewals The Agreement with TIPS is for approximately two (2) years with an option for renewal extension for an additional three (3) consecutive one (1) year terms. The first renewal extension year shall be automatic unless the awarded vendor notifies TIPS of its objection to the first additional one (1) year renewal extension. The second and third one (1) year renewal extension terms shall be with the consent of both parties. Consent for second and third one (1) year renewal extension terms shall be implied if TIPS provides notice by email to the primary contact of the awarded Vendor that the second or third one (1) year renewal extension term is offered by TIPS. TIPS may or may not exercise the available extension(s) provided in the original solicitation beyond the base term. Whether or not to offer the renewal extension years is at the sole discretion of TIPS.