Option Periods on the same terms and conditions applicable to the Initial Contract Period except as otherwise provided herein. Further, in the event The Record Company releases four (4) albums featuring performances of The Artist in five (5) years from the date of execution of this Agreement, The Record Company shall have the option to extend the term of this Agreement for a fourth (4th ) Option Period on the same terms and conditions applicable to the Initial Contract Period, except as otherwise provided herein. Each option shall be exercised automatically unless written notice is sent by The Record Company prior to the expiration date of the Contract Period which is then in effect (the "Current Contract Period"). If The Record Company so advises The Artist in its exercise notice, such period will begin on the date of such exercise notice. Each of the Option Periods will end the later of (i) nine (9) months after the date of the Delivery to The Record Company of all Master Sound Recordings required in fulfillment of The Artist's Recording Commitment for each such Option Period or (ii) six (6) months after The Record Company's initial U.S. street date for the last Phonograph Record delivered by The Artist in fulfillment of The Artist's Recording Commitment for such Period. Notwithstanding the foregoing, in no event will any Option Period end earlier than twelve (12) months after the date of the commencement of such Period.

Option Periods shall have the meaning set forth in Section 26.1 hereof.

Option Periods means, jointly, the Call Option Periods and the Put Option Periods (and each of them, an “Option Period”).

Examples of Option Periods in a sentence

Price adjustment during the Option Period(s) shall be pursuant to the clause entitled "Price Adjustment" in Part III hereof.
Such an Eligible Employee will remain a Participant with respect to subsequent Option Periods until his or her participation in the Plan is terminated as provided herein.
Service Provider shall at all times during the Initial Term of this Agreement, and (if applicable during any Option Periods), perform the services described in this Agreement as an independent contractor.
Service Provider represents that it has obtained and will maintain at all times during the initial Term, and (if applicable, during any Option Periods) of this Agreement all business licenses, including but not limited to a City of Victorville business license, certifications, or permits necessary for performing the services described in this Agreement.
Within Table B.4-1: (a) Contract Period is defined as the Transition Period, Base Period, and Option Period(s) (if exercised) described in the Section F Clause entitled, Period of Performance.

More Definitions of Option Periods

Option Periods means the Bayer Lead Series Option Period, the Bayer Development Candidate Option Period or the Recursion Option Period, as context requires.

Option Periods means the First Year Option Period, the Second Year Option Period and the Third Year Option Period.

Option Periods are set forth in Section 2.2.

Option Periods is defined in Article 4.2.

Option Periods means 6 successive separate periods of 5 years each.

Option Periods shall have the meaning set forth in Section 31.1 hereof.