Extension of Contract Period Clause Samples
The Extension of Contract Period clause allows for the official adjustment of a contract’s timeline, typically in response to delays or unforeseen circumstances that prevent timely completion. This clause outlines the conditions under which an extension may be requested, such as force majeure events, changes in project scope, or delays caused by third parties, and usually requires formal notice and supporting documentation from the affected party. Its core function is to provide a fair and structured process for managing unavoidable delays, thereby reducing disputes and ensuring that both parties have clear expectations regarding project timelines.
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Extension of Contract Period. In the event that a material breach or default of this Agreement causes delay in achieving the Appointed Date or leads to reduction in Availability, as the case may be, the Utility shall, in addition to payment of compensation under Clause 18.2, extend the Contract Period, such extension being equal in duration to the period by which the Appointed Date was delayed or Availability was reduced on account thereof, as the case may be; and in the event of reduction in Availability below 80% (eighty per cent) of the Normative Availability, the Utility shall, in addition to payment of compensation hereunder, extend the Contract Period in proportion to the loss of Availability. For the avoidance of doubt, loss of 25% (twenty five per cent) of Availability for 4 (four) days shall entitle the Supplier to extension of 1 (one) day in the Contract Period.
Extension of Contract Period. 42.1 The Authority may, by giving written notice to the Supplier not less than three (3) Months prior to the Expiry Date extend the term of this Contract for up to two periods of twelve
Extension of Contract Period. Notwithstanding anything to the contrary contained in this Agreement, save and except the extension of Contract Period specified in the Proviso of Clause 3.1.1, in the event that extension of the Contract Period due to the Supplier in accordance with the provisions of this Agreement is not granted by the Utility for any reason, the Utility shall, within 30 (thirty) days of the expiry of this Agreement, pay to the Supplier a lump sum amount computed in accordance with this Clause 3.2 in lieu of the Fixed Charge that would have been payable to the Supplier if the Contract Period shall have been extended in accordance with this Agreement. For computation of the aforesaid lump sum amount payable hereunder, the Fixed Charge due and payable for and in respect of the last month of the Contract Period shall be deemed as the base and the amount so determined shall be reduced by 10% (ten per cent) for the following month and the same computation shall be repeated for every subsequent month for the purposes hereof. For the avoidance of doubt and by way of illustration, if the Fixed Charge for the last month of the Contract Period is Rs. 1 crore (Rupees one crore) and the period of foregone extension is 2 (two) months, the amount payable for and in respect of the first and second months shall be a sum of Rs. 90,00,000/- (Rupees ninety lakh) and Rs. 81,00,000/- (Rupees eighty one lakh) respectively. It is further clarified that payment for a part month shall be computed on a proportionate basis. The Parties further agree that the payment of such amount shall be deemed to form part of the Secured Obligations and may be recovered by the Supplier under and in accordance with Article 13.
Extension of Contract Period. 16.3.1 The Contract Period may be extended by the Authority by a period of [90 (ninety)] days or any such period that the Authority may decide in writing, at its sole discretion.
Extension of Contract Period. The Contract Period may be extended by the Authority by a period [90 (ninety)] days or any such period that the Authority may decide in writing at its sole discretion.
Extension of Contract Period. The Contract Period shall be extended by a period, after the Works are taken over, during which the Works or any Section or item of Plant, Rolling Stock, cannot be used, for the purposes for which they are intended, by reason of a defect or damage. Failure to Remedy Defects
Extension of Contract Period. When appropriate, this contract may be extended form year to year if agreeable to both parties provided the agreement for extension is consummated 30 days prior to the expiration date, and further provided that there is no change in the provisions, terms, conditions or rate of payment. Any extension made hereunder is subject to the availability of funds during the period covered by the extension.
Extension of Contract Period. The contract may be extended for a period which comes to 10% of the Estimated Value, whichever the case may be, with mutual consent, at the same rate and Terms and Conditions, subject to proper condition of the machines as per statute and approval of competent authority and satisfactory running of the contract.
Extension of Contract Period. At any time 3 (three) months, prior to the expiry of the Contract Period specified in Article 3.1, the Parties may with mutual agreement extend the Contract Period for such further period as they may determine, save and except any extension of the Contract Period due on of Force Majeure.
Extension of Contract Period. 11.1 HSS shall be entitled to claim an extension to the term of the Contract in the event of delays resulting from any matter whatsoever which is not entirely under the control of HSS. These matters shall include, but are not limited to delays caused by:
(a) response(s) to information request(s) made by HSS to the Client not being available when required;
(b) information from consultants, councils or referral agencies not being available when required;
(c) any other variation to the contract;
(d) approval authorities response times for requests for preliminary decisions/information;
(e) time taken by the approval authority for the granting of required approvals;
(f) changes to the design brief being requested by the Client;
(g) required changes to the scope of works that must be made by HSS.