Common use of Contract Term and Renewal Options Clause in Contracts

Contract Term and Renewal Options. 4.1 The Initial Contract term (hereinafter “Initial Term”) shall cover a period of twelve (12) calendar months for the City Fiscal Year or portion thereof. 4.2 This Agreement shall cover the Initial Term through completion of the Task Order requirements and approved deliverables. 4.3 CITY reserves the right to extend this Agreement, exercised in writing annually, four (4) additional, successive one-year periods. Automatic renewals are prohibited. 4.4 If CITY desires to extend this Agreement, it shall give written notice of such renewal prior to the expiration date of the current Term. 4.5 The final Term of this Agreement may be extended solely for the purpose of completing Task Order requirements and approved deliverables.