Common use of Multi-year Options Clause in Contracts

Multi-year Options. In accordance with 49 U.S.C. § 5325(e)(1), an Indian Tribe procuring rolling stock financed with Federal assistance under 49 U.S.C. chapter 53 may not enter into a multi-year contract to purchase additional rolling stock and replacement parts with options exceeding five (5) years after the date of the original contract.