Common use of Contract Term and Renewal Clause in Contracts

Contract Term and Renewal. 13.1 The term of this Contract shall be for one (1) year beginning on January 1st 2023, and terminating at midnight on December 31st 2023, with an option to renew thereafter for successive twelve (12) month period, up to six (6) years; based on the results of yearly vendor performance assessment by the Director of the Department of General Services, unless terminated as provided in Article XVII below. If the Owner decides to exercise the option to renew, it shall be in written form to Contractor, thirty (30) days prior to the expiration of the Contract. In the event that the Contract is renewed, the terms and conditions will remain unchanged except as changed under Article XV below.

Contract Term and Renewal. 13.1 The term of this Contract shall be for one (1) year beginning on January 1st 20231st, 2023 and terminating at midnight on December 31st 202331st, 2023 with an option to renew thereafter for successive twelve (12) month periodperiods, up to six (6) years; based on the results of yearly vendor performance assessment by the Director of the Department of General Services, Services unless terminated as provided in Article XVII below. If the Owner decides to exercise the option to renew, it shall be in written form to Contractor, thirty (30) days prior to the expiration of the Contract. In the event that the Contract is renewed, the terms and conditions will remain unchanged except as changed under Article XV below.