CONTRACT TERMS AND EXTENSIONS Sample Clauses

The "Contract Terms and Extensions" clause defines the duration of the agreement and the conditions under which it may be extended. Typically, it specifies the initial term of the contract, such as one or two years, and outlines the process for renewal, which may be automatic or require written notice from one or both parties. This clause ensures both parties are aware of how long their obligations last and provides a clear mechanism for continuing or ending the relationship, thereby preventing misunderstandings about the contract's duration and renewal process.
CONTRACT TERMS AND EXTENSIONS. The effective date of this agreement shall be the date at the top of this page. The Date of Commencement of the Work shall be  , 20  . The Contract Time is established as   calendar days and shall be measured from the Date of Commencement. The Contractor agrees that the Agency shall be entitled to withhold or recover from the Contractor Liquidated Damages in the amount of   for each Calendar Day the Contractor fails to achieve Substantial Completion of the Work within the Contract Time specified or adjusted as provided in the Contract Documents. The Agency shall pay the Contractor the Contract Sum in current funds for the Contractor’s performance of the Contract. The Contract Sum shall be  , subject to additions and deductions as provided in the Contract documents. The Construction project is subject to the expenditure limits set forth in SC Code § 11-35-1550 and further explained in the Manual for Planning and Execution of State Permanent Improvements, (the “Manual”). The cost for the original scope of the Contract combined with any modification to the Contract purporting to exceed the limit of $100,000 is null and void.
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CONTRACT TERMS AND EXTENSIONS. The effective date of this agreement shall commence as of the date at the top of this page for a three (3) year term and shall extend until  , 20  . Task Order Contracts must be for a term of three (3) years with two (2) automatic 1-year extensions. The Agency may choose not to extend after the 3rd or 4th year by giving 30 days written notice to the contractor. Contractor proposals for Task Orders accepted by the Agency within the time limits of the contract may be completed by the Contractor even though the completion date may extend beyond the term of the contract. The maximum total potential dollar amount to be awarded under this Task Order Contract during its term is $4,000,000. There is no minimum amount.
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CONTRACT TERMS AND EXTENSIONS. ‌ The Contract shall have an initial term of 5 years. The Contract Term shall commence after all necessary approvals, and shall become effective upon mailing or electronic communication of the final executed documents to the Contractor (see Appendix B, Contract Creation/Execution). All OGS Centralized Contracts resulting from Solicitation 23141 shall have a co-terminus end date, including those Contracts awarded during any subsequent periodic recruitment. At the State’s option, the Contract may be extended for up to 5 years, in increments as deemed to be in the best interest of the State. Whether the optional extensions are exercised is at the sole discretion of the State. A Contractor shall retain the right to decline a Contract extension offered under this section. Any Contract extension will be under the same terms and conditions, subject to any additional applicable statutory and policy requirements. The Contract Term provided for in this section shall extend 6 months beyond its termination date only for Authorized Users whose contracts must be registered with the Office of the New York City Comptroller. During the 6-month period, the definition of Authorized User shall be deemed to refer only to Authorized Users whose contracts must be registered with the Office of the New York City Comptroller. This extension is in addition to any other extensions available under the Contract. The extension provided for in this paragraph shall be upon the then-existing terms and conditions; provided, however, during such extension an Authorized User, as defined in this paragraph, may agree to amend such terms and conditions solely to comply with changes in statutory requirements (e.g. changes in minimum, prevailing or living wages, or regulated services).
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CONTRACT TERMS AND EXTENSIONS. (“At the State’s option, the Contract may be extended for up to 5 years, in increments as deemed to be in the best interest of the State.”)
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CONTRACT TERMS AND EXTENSIONS. 1. The effective date of this agreement shall commence as of the date at the top of this page for a two (2) year term and shall extend until , 20 . 2. Contractor proposals for Job Orders accepted by the Agency within the time limits of the contract may be completed by the Contractor even though the completion date may extend beyond the term of the contract. 3. The maximum total potential dollar amount to be awarded under this Job Order Contract during its term is $4,000,000. There is no minimum amount. The maximum amount of an individual Job Order to be awarded is $500,000, including any modifications.
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CONTRACT TERMS AND EXTENSIONS. 1.1 The effective date of this agreement shall be the date at the top of this page. The Date of Commencement of the Work shall be ten (10) days after receipt of the required permits, 2023 . The Contract Time is established as 60 calendar days and shall be measured from the Date of Commencement. 1.2 The Contractor agrees that the Agency shall be entitled to withhold or recover from the Contractor Liquidated Damages in the amount of $0 for each Calendar Day the Contractor fails to achieve Substantial Completion of the Work within the Contract Time specified or adjusted as provided in the Contract Documents. 1.3 The Agency shall pay the Contractor the Contract Sum in current funds for the Contractor’s performance of the Contract. The Contract Sum shall be $34,000.00, subject to additions and deductions as provided in the Contract documents. 1.4 The Construction project is subject to the expenditure limits set forth in SC Code § 11-35-1550 and further explained in the Manual for Planning and Execution of State Permanent Improvements, (the “Manual”). The cost for the original scope of the Contract combined with any modification to the Contract purporting to exceed the limit of $100,000 is null and void.
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Related to CONTRACT TERMS AND EXTENSIONS

  • CONTRACT TERMS AND CONDITIONS This section sets forth the terms and conditions of the Contract.

  • Contract Terms The contract term will be one (1) year, effective from date of award. The City and the Supplier shall have the option to renew this contract for an additional two (2) one-year periods. The contract shall commence upon the issuance of a Notice of Award by the City of ▇▇▇▇▇▇ and shall automatically renew each year, from the date of award by City Council, unless either party notifies the other prior to the scheduled renewal date. At the sole option of the City of ▇▇▇▇▇▇, the contract may be further extended as needed, not to exceed a total of six (6) months.

  • Extended Terms The Term of this Agreement may be extended by the Manager if the Resident applies in writing for an “Extension” in accordan ce with the Managers published policies about Term Extensions. Extensions are subject to availability. Priority will be given to Residents travelling from great distances, who demonstrate a special need, or who are enrolled in orientation or academic programs that begin early or continue beyond the Residence Term. Extensions may also be granted for any ‘Early Move-In’, ‘Late Move-Out’ or ‘Summer Residence’ programs offered by the Manager. Residents granted Extensions are subject to the fees detailed in Table 3. Any Resident found occupying a Room outside of the Term without approval from the Manager are subject to additional fees over and above those detailed in Table 3. Summer Semester 2023 April 22, 2023 May 7, 2024 $30.00/Day Academic Year 2023-2024 August 19, 2023 September 3, 2023 $30.00/Day Winter Semester 2024 December 16, 2023 January 7, 2024 $30.00/Day

  • ADDITIONAL TERMS AND CONDITIONS This Annex A to the Second Amended and Restated Servicing Agreement, dated October 31, 2021 (the “Agreement”), among ▇▇▇▇▇ Bank and ▇▇▇▇▇ Trust Company, as Sellers, the Bank Assets Purchaser and, upon execution of the Joinder Agreement, the Delaware Trust Assets Purchaser, as Purchasers, and Guarantor (solely for purposes of Section 9.5 of the Agreement), is incorporated into and deemed part of the Agreement in all respects.