Extension of a Term Clause Samples

Extension of a Term. In the event that any Service is required beyond its Term, Service Recipient shall provide Service Provider with a written notice of extension no later than sixty (60) days prior to the expiration of the Term of such Service; provided, that Service Recipient shall only be allowed one three (3)-month extension of any Term; provided, further, that in no event shall any Term be extended beyond the date that is fifteen (15) months after the Distribution Date. Such notice shall indicate the period during which Service Recipient wishes to receive such Service after the date of expiration of the Term for such Service; provided, that Service Provider shall not be obligated to provide such extended Service if (x) Service Provider does not, in its reasonable judgment, have the capability and existing capacity to provide such Service or if the provision of such Service would significantly disrupt the operation of its or any member of its Group’s business, or (y) there are interdependencies among such Service and any other Services, for which the Term will expire prior to the end of such extension, and such interdependencies cannot be addressed despite good-faith negotiations between the Parties. Subject to obtaining any necessary Third Party consents in accordance with Section 2.9, Service Provider shall provide, or cause to be provided, the Service to Service Recipient for such period, it being understood and agreed that the Service Fees for each applicable Service shall be subject to a 20% increase from the original Service Fees during any Extension Period. In addition, Service Recipient shall reimburse Service Provider for any reasonable and documented incremental fees charged by Third Party service providers in connection with granting any consent or otherwise extending the Service, in each case, solely with respect to an extension of the Term.
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Related to Extension of a Term

  • EXTENSION OF USE The Contract may be extended to additional States or governmental jurisdictions upon mutual written agreement between New York State (the lead contracting State) and the Contractor. Political subdivisions and other authorized entities within each participating State or governmental jurisdiction may also participate in the Contract if such State normally allows participation by such entities. New York State reserves the right to negotiate additional minimum NYS Vehicle Discounts based on any increased volume generated by such extensions.

  • Extension of Agreement Prior to the original expiration date of this Agreement, the Parties mutually agree to extend this Agreement to the February 15 extension date identified in Paragraph VIII(A). The Parties acknowledge that no further extensions of this Agreement are authorized.

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.

  • Extension Term The Term of this Lease of all of the Premises may be extended for the Extension Term by unconditional written notice from Tenant to Landlord at least twelve (12) (but not more than fifteen (15)) months before the end of the Initial Term, time being of the essence. If Tenant does not timely exercise this option, or if on the date of such notice or at the beginning of the Extension Term (i) an Event of Default by Tenant exists, or (ii) Tenant is not leasing sixty percent (60%) or more of the Premises, or (iii) Tenant has made any Transfer under Article 13 (other than a Related Party Transfer), at Landlord’s option upon written notice to Tenant, Tenant’s right to extend the Term of this Lease shall irrevocably lapse and be void and of no further force and effect, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Initial Term. If Tenant fails to timely exercise its rights hereunder, then within seven (7) days of Landlord’s request therefor, Tenant shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant’s failure to exercise (or waiver of) such right, and Tenant’s failure to so execute and deliver such certification shall (without limiting Landlord’s remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the failure or waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. All references to the Term shall mean the Initial Term as it may be extended by the Extension Term. The Extension Term shall be on all the same terms and conditions except that the Base Rent for the Extension Term shall be as set forth below.

  • Extension of Term If the term of NASPO ValuePoint Master Agreement is extended for any reason, the Term of this Participating Addendum shall be automatically modified to account for that extension, so long as such extension complies with the Colorado Procurement Code.