Common use of TERM OF GRANT Clause in Contracts

TERM OF GRANT. The term of the Grant shall commence on the Effective Date (as defined below) and shall end on the Expiration Date identified in the Grant, subject to the other provisions of the Grant. The Effective Date shall be fixed after the Grant has been fully executed by the Grantee and by the Commonwealth and all approvals required by Commonwealth procurement procedures have been obtained. The Grant shall not be a legally binding Grant until after the Effective Date is affixed and the fully-executed ▇▇▇▇▇ has been sent to the Grantee. The Grantee shall not start the performance of any work prior to the Effective Date set forth in the Grant and the Commonwealth shall not be liable to pay the Grantee for any service or work performed or expenses incurred before the Effective Date set forth in the Grant. No agency employee has the authority to verbally direct the commencement of any work under this ▇▇▇▇▇. The Commonwealth reserves the right, upon notice to the Grantee, to extend the term of the Grant for up to three months upon the same terms and conditions.