Common use of Contract Extension Option Clause in Contracts

Contract Extension Option. The City has the option to unilaterally extend the term of this Contract prior to the expiration of the initial Term, for up to thirty six (36) months, subject to acceptable performance by the Consultant and contingent upon the appropriation of sufficient funds. The option may be exercised as a single thirty-six month extension or as up to three separate extensions, each with a term no less than twelve months. Before expiration of the then current term, the Chief Procurement Officer will give the Consultant notice, in writing, that the City is exercising its option to renew the Contract for the approaching option period. The date on which the Chief Procurement Officer gives notice is the date the notice is mailed, if it is mailed, or the date the notice is delivered, if sent by courier or messenger service. The City may also extend this Contract once following the expiration of the contract term for up to 181 Calendar Days or until such time as a new contract has been awarded for the purpose of providing continuity of services and/or supply while procuring a replacement contract subject to acceptable performance by the Consultant and contingent upon the appropriation of sufficient funds. The CPO will give the Consultant notice of the City’s intent to exercise its option to renew the Contract for the approaching option period.