Option Period

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Option Period

In Texas, a short period of time during which a seller of real estate may not to sell to anyone other than the person or entity who placed a bid. This gives the potential buyer time to perform inspections without placing his/her earnest money at risk. The potential buyer pays a non-refundable option fee, which is distinct from earnest money, in order to take advantage of an option period.
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References in periodicals archive ?
Option period two performance period began April 15, 2019 and ends April 14, 2020, and the contract provides for two additional twelve-month option periods, exercisable by GSA.
"But we would like the players to be obviously rewarded for the good seasons they have had, and to go forward and get contracts that wipe out the option periods.
KeyLogic Systems Inc., Morgantown, WV, was awarded a $24,222,031.76, cost-plus-fixed-fee contract consisting of one one-year base period and four one-year option periods. The solicitation was issued as a small business set-aside.
The original lease term is for twenty years until 2012 then there are two-five year option periods.
This seven-year contract is comprised of a 36-month base period and two, 24-month option periods. The contract award is for ITES Functional Area-1 for Enterprise Hardware Solutions, the first of two phases.
This contract began with a one-year commitment from the IRS with four one-year option periods to be exercised at the discretion of the IRS.
Table 1 shows the change in the ratio of significant positive to significant negative coefficients from the pre-to the post-futures option periods. These ratios are grouped by lag time (ranging from 5 to 30 minutes) and by variable (lagged cash index, lagged futures or futures mispricing).
This is a five-year base contract with two two-year option periods, plus four two-month option periods.
Option period one performance period began April 15, 2018 and ends April 14, 2019, and the contract provides for three additional twelve-month option periods, exercisable by GSA.
The contract includes a base period, four option periods and five award option periods for a total contract value if all options are exercised of $168,185,893.