Common use of TERM OF FRAMEWORK AGREEMENT Clause in Contracts

TERM OF FRAMEWORK AGREEMENT. 3.1. This Framework Agreement shall take effect from the Framework Commencement Date and shall continue, unless terminated earlier in accordance with the provisions of the Framework Agreement or otherwise by operation of Law, for two (2) Years (“Initial Period”) when it shall terminate automatically without notice unless, no later than three (3) Months before the end of the Initial Period, the Authority gives notice to extend the Initial Period in accordance with Clause 3.2. 3.2. At the end of the Initial Period, the Authority shall have the option to extend the Initial Period of this Framework Agreement on the same terms for up to two (2) further periods of up to 12 Months each. If the Authority intends to exercise the option to extend this Framework Agreement for the first period, it shall give the first notice to the Supplier no later than three (3) Months prior to the end of the Initial Period and such notice shall include details of the duration of the relevant extension. If the Authority intends to exercise the option to extend the Framework Agreement for a second period, it shall give the second notice to the Supplier no later than three (3) Months prior to the date upon which the first period of extension is due to expire, and shall include details of the duration of the relevant extension.

TERM OF FRAMEWORK AGREEMENT. 3.1. This Framework Agreement shall take effect from the Framework Commencement Date and shall continue, unless terminated earlier in accordance with the provisions of the Framework Agreement or otherwise by operation of Law, for two (2) Years (“Initial Period”) when it shall terminate automatically without notice unless, no later than three (3) Months before the end of the Initial Period, the Authority gives notice to extend the Initial Period in accordance with Clause 3.2. 3.2. At the end of the Initial Period, the Authority shall have the option to extend the Initial Period of this Framework Agreement on the same terms for up to two (2) further periods of up to 12 Months each. If the Authority intends to exercise the option to extend this Framework Agreement for the first period, it shall give the first notice to the Supplier no later than three (3) Months prior to the end of the Initial Period and such notice shall include details of the duration of the relevant extension. If the Authority intends to exercise the option to extend the Framework Agreement for a second period, it shall give the second notice to the Supplier no later than three (3) Months prior to the date upon which the first period of extension is due to expire, and shall include details of the duration of the relevant extension.