Common use of Term Dates Clause in Contracts

Term Dates. The original term (Original Term) of the Contract shall commence on 06/17/2022 , and shall continue until 12/31/2025 , unless earlier terminated or cancelled in accordance with the Contract or some other writing agreed to and signed by the parties, but in no event may the Original Term exceed a period of four (4) consecutive years from the effective date of the Original Term, unless exempt from Ark. Code ▇▇▇. § 19-11-238(c)(1). By written agreement of the parties, the term of the Contract may be extended or renewed for additional time beyond the Original Term. This allows for a total possible term (Total Possible Term) beyond the Contract’s Original Term, as defined in the following paragraph. The Total Possible Term of the Contract is a period comprised of the Original Term plus any extensions or renewals that may be agreed to by the parties in writing, but in no event longer than a period of seven (7) consecutive years from the effective date of the Original Term, unless otherwise provided by law. Subject to applicable law, the terms hereof, and an appropriation of necessary funding, the Total Possible Term of this Contract expires no later than 12/31/2029 (mm/dd/yyyy).

Appears in 1 contract

Sources: Services Contract

Term Dates. The original term (Original Term) of the Contract shall commence on 06/17/2022 April 3, 2025, and shall continue until 12/31/2025 April 3, 2029, unless earlier terminated or cancelled in accordance with the Contract or some other writing agreed to and signed by the parties, but in no event may the Original Term exceed a period of four (4) consecutive years from the effective date of the Original Term, unless exempt from Ark. Code ▇▇▇. § 19-11-238(c)(1). By written agreement of the parties, the term of the Contract may be extended or renewed for additional time beyond the Original Term. This allows for a total possible term (Total Possible Term) beyond the Contract’s Original Term, as defined in the following paragraph. The Total Possible Term of the Contract is a period comprised of the Original Term plus any extensions or renewals that may be agreed to by the parties in writing, but in no event longer than a period of seven (7) consecutive years from the effective date of the Original Term, unless otherwise provided by law. Subject to applicable law, This Agreement shall commence on the terms hereof, Commencement Date and an appropriation continue unless terminated by either Party in accordance with the provisions of necessary funding, the Total Possible Term of this Contract expires no later than 12/31/2029 (mm/dd/yyyy).Clause 13

Appears in 1 contract

Sources: Master Management Services Agreement

Term Dates. The original term (Original Term) of the Contract shall commence on 06/17/2022 12/14/2024, and shall continue until 12/31/2025 12/13/2025, unless earlier terminated or cancelled in accordance with the Contract or some other writing agreed to and signed by the parties, but in no event may the Original Term exceed a period of four (4) consecutive years from the effective date of the Original Term, unless exempt from Ark. Code ▇▇▇. § 19-11-238(c)(1). By written agreement of the parties, the term of the Contract may be extended or renewed for additional time beyond the Original Term. This allows for a total possible term (Total Possible Term) beyond the Contract’s Original Term, as defined in the following paragraph. The Total Possible Term of the Contract is a period comprised of the Original Term plus any extensions or renewals that may be agreed to by the parties in writing, but in no event longer than a period of seven (7) consecutive years from the effective date of the Original Term, unless otherwise provided by law. Subject to applicable law, the terms hereof, and an appropriation of necessary funding, the Total Possible Term of this Contract expires no later than 12/31/2029 (mm/dd/yyyy)12/13/2025.

Appears in 1 contract

Sources: Commodities Contract