Term Extensions Sample Clauses
A Term Extensions clause defines the conditions under which the duration of an agreement may be prolonged beyond its original end date. Typically, this clause outlines whether extensions are automatic or require mutual consent, and may specify the length and number of possible extensions. Its core practical function is to provide flexibility for the parties to continue their relationship without renegotiating a new contract, thereby ensuring continuity and reducing administrative burdens.
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Term Extensions. The term of employment under this Agreement shall begin on the Effective Date and shall continue for a term of three (3) years (the “Term”). Each successive anniversary of the Effective Date shall be referred to as an “Anniversary Date.” After expiration of the initial year of the Term, the Agreement shall automatically extend for an additional year, so that the Term will continue for a new three (3) year period from the time of the extension, unless the Board or Executive gives notice to the other party that the Term will not be extended no later than sixty (60) days prior to the Anniversary Date. If either party gives timely notice that the Term will not be extended, then this Agreement shall terminate at the conclusion of its then remaining Term, unless otherwise terminated earlier as permitted by subsequent provisions of this Agreement.
Term Extensions. The Term of this Agreement may be extended in either of the following ways:
Term Extensions. The Grantee acknowledges that all Grant Funds must be expended or legally obligated, and all Grant Activities, Deliverables, Milestones and Performance Measures (Exhibits A, B and D) must be completed during the Term of the Agreement. Extensions of the Term will be granted only for good cause, subject to the Grantor’s discretion. Pursuant to the Grant Funds Recovery Act (30 ILCS 705/1 et seq.), no Award may be extended in total beyond a two (2)-year period unless the Grant Funds are expended or legally obligated during that initial two-year period, or unless Grant Funds are disbursed for reimbursement of costs previously incurred by the Grantee. If Grantee requires an extension of the Award Term, Grantee should submit a written request to the Grant Manager at least sixty (60) days prior to the end of the Award Term or extended Award Term, as applicable, stating the reason for the extension. If Grantee provides reasonable extenuating circumstances, Grantee may request an extension of the Award Term with less than sixty (60) days remaining.
Term Extensions. The Term of this Agreement will be extended for seven additional years upon a determination of the City Council, by way of resolution of the City Council acted on at a regularly scheduled meeting, that both of the conditions listed in subparts 3.2.1 and 3.2.2 below have been fully satisfied are the Owner is in full compliance:
Term Extensions. Section 2.1. The term of this Lease (the "Lease Term") shall be three (3) years, commencing five (5) days after notice to Tenant by Landlord that all prior tenants and occupants have vacated the Premises in a condition similar to the condition of the Premises on the date of this Lease, with all of such tenant's personal property removed (the "Commencement Date") and, subject to earlier termination or Tenant's right to extend the Lease Term under the terms of this Lease, expiring on February 28, 2000 (the "Expiration Date"). Landlord and Tenant agree that, if Landlord fails to deliver actual possession of the Premises to Tenant on the Commencement Date because of the holding-over or retention of possession of any tenant, subtenant or occupant or for any other reason whatsoever, Landlord shall not be liable for any damages thereby, nor shall this Lease be void or voidable; provided, however, that: (a) Tenant shall not be liable for the monthly installments of Annual Base Rent or Additional Rent (as hereinafter defined) due under this Lease until the Commencement Date; (b) Landlord's failure to deliver actual possession of the Premises to Tenant on the Commencement Date shall not be construed in any way to extend the Lease Term; and (c) if Landlord fails to deliver actual possession of the Premises to Tenant by April 1, 1997, then Tenant shall have the right to terminate this Lease upon written notice to Landlord, delivered to Landlord no later than April 15, 1997 and Landlord shall refund any Rent previously deposited with
Section 2.2. Landlord hereby grants to Tenant the option to extend the Lease Term for one (1) successive one (1) year extension term (the "Extension Term"), upon and subject to the following terms and conditions:
(a) The Extension Term shall commence on the day next succeeding the Expiration Date of the initial Lease Term.
(b) Tenant shall exercise such option as to the Extension Term by giving written notice of exercise of the option (the "Option Notice") to Landlord at least one-hundred eighty (180) days but no more than three hundred sixty (360) days before the first day of such Extension Term, time being of the essence.
(c) When exercising such right and on the Expiration Date of the initial Lease Term, Tenant shall not be in default, beyond any grace period, in the performance of any of its obligations under this Lease.
(d) If Tenant elects to renew the Lease Term, all the provisions of this Lease shall be applicable during each Exten...
Term Extensions. To the extent a Recipient requires an extension to the Term of any Service outlined in Schedule A or Schedule B, such Recipient may, with at least thirty (30) days’ written notice to the applicable Provider prior to the end of the Term of such Service as set forth in Schedule A or Schedule B, extend the Term of such Service (x) for up to three (3) months or (y) as set forth in the Schedule A or Schedule B hereto, in each case, without additional cost (other than the fees that are to be charged for such Service pursuant to this Agreement during the extended term). Any terms, conditions or costs or fees to be paid by the Recipient for Services provided during an extended term will be on terms mutually acceptable to such Provider and Recipient. Unless the Parties mutually agree in writing, the full Term of any Service, as extended pursuant to this Section 4.2, shall not extend beyond twelve (12) months from the Closing Date.
Term Extensions. This Agreement may be extended in writing by mutual agreement of the parties either in whole or with respect to one or more of the Services.
Term Extensions. Tenant shall, provided the Lease is in full force and effect and Tenant is not in default under any of the terms and conditions of the Lease at the time of notification or commencement, have the option to extend the Initial Term (the "Term Extension") for the greater of two (2) 5-year terms or for the same amount of time that the Orange County School Board (or the state) extends the term of either Contract (the "Charter Renewal"). The renewal process may require that Tenant be able to demonstrate to the School Board that the Lease Agreement has been extended as a condition to the School Board's willingness to grant the Charter Renewal. In such case, Tenant can elect to initiate the Term Extension subject to a condition that the School Board approve the Charter Renewal within a reasonable amount of time after any such Charter Renewal, Tenant shall notify the Landlord of any such extensions. If Tenant elects to exercise said option, then Tenant shall provide Landlord with written notice not later than eighteen (18) months prior to the expiration of the term of the Lease. If Tenant does not exercise any such option in a timely manner, then all rights to extend the Lease automatically shall terminate, Landlord shall have the right during the remainder of the Term of this Lease to advertise the availability of the Premises for sale or reletting and to erect upon the Premises signs appropriate for the purpose of indicating such availability.
Term Extensions. The Government may extend the term of this agreement by written notice to the CNA within 60 days before the agreement expires. The preliminary notice does not commit the Government to an extension. The government may extend the term of this agreement by executing up to two six (6) month extensions.
Term Extensions. The term of the Lease shall automatically be extended beyond the Initial Term for up to three (3) successive five (5) year Extension Periods upon the same terms, covenants, conditions and rent as set herein (each, an “Extension Period”) (other than any prior Extension Period) unless Tenant notifies Landlord in writing in accordance with the notice provisions hereof at least twelve (12) months before the last day of the Initial Term or nine (9) months before the last day of the then current Extension Period, as applicable (the “Notice Date”) that the Lease shall terminate at the end of such current term without further extension. Notwithstanding the foregoing, Landlord, at its sole option, and notwithstanding other remedies for Tenant’s default set forth herein, may refuse, by written notice to Tenant, to extend the Term of this Lease if, at the Notice Date or at the time of commencement of an Extension Period, Tenant is in default under any provision of this Lease as to which default Landlord has given notice to Tenant in accordance with this Lease hereof and such default remains uncured after the expiration of any applicable cure period, by and upon the delivery of such notice, all remaining rights of extension shall automatically expire.