Common use of Third Maintenance Term Clause in Contracts

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement for an additional term (the “Third Maintenance Term”). The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of the Second Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP2. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Comprehensive Maintenance Agreement for an additional term (the “Third Maintenance Term”). The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of the Second Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP2. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement for an additional term (the “Third Maintenance Term”). The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right extension rights for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of the Second Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP1 and Maintenance NTP2. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.

Third Maintenance Term. 4.3.1 If TxDOT issues Maintenance NTP2, TxDOT, in its sole and absolute discretion, shall have the option to extend the term of this Capital Maintenance Agreement CMA for an additional term (the “Third Maintenance Term”). The Third Maintenance Term shall commence as of the expiration of the Second Maintenance Term and shall continue for a period of five years, unless terminated earlier in accordance with the terms hereof. 4.3.2 If TxDOT elects to exercise its option right for a Third Maintenance Term, TxDOT shall issue Maintenance NTP3 on or before 90 Days prior to the expiration of the Second Maintenance Term. TxDOT shall not be entitled to exercise the extension option for the Third Maintenance Term if it did not issue Maintenance NTP1 and Maintenance NTP2. TxDOT shall have no liability to Maintenance Contractor for a failure to issue Maintenance NTP3.