Examples of Options to Extend in a sentence
The term of this Contract will be Twenty-Four (24) Month Term & Supply Contract with Three (3) 12-Month Options to Extend, subject to available funding and Legislative approval.
Such Options to Extend shall be exercised by Tenant giving written notice to Landlord of its intention to exercise the Option to Extend no earlier than two (2) years prior to the expiration of the original Term or the Option Term then in effect (as applicable) and no later than one hundred and eighty (180) days prior to the expiration of the original Term or the Option Period then in effect (as applicable).
In the event that the Company fails to satisfy the criteria to meet a particular Milestone then, in addition to the payment of the Base Amount pursuant to the Agreement, and subject to the Options to Extend, a Supplemental Payment shall be made to the Agency as provided in Section 8.5 of the Agreement.
Any extended term of this Lease shall be on the same terms and conditions as the initial Term hereof, except as to the term thereof, the calculation of Rent and except that there shall be no other right to extend the Term beyond the five (5) years in the Options to Extend and Minimum Annual Rent shall be as set forth below.
If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire.