Outside Date. For purposes of this Agreement, the “Outside Date” shall be August 1, 2025.
I interpret that to mean that the 1st year scheduling agreement will expire August 1, 2025. As it should because you've paid for a full season of football. And, it protects the MWC up to that date incase we need to apply those dreaded termination fees should the Pac2 decide to poach.
Notwithstanding the foregoing, if MWC and Pac-12 mutually agree in a signed writing on or prior to September 1, 2024, the “Outside Date” may be extended to August 1, 2026.
My interpretation on this is that this new "Outside Date" is the end of the 2nd year (08/01/26). And, this only applies if you've agreed to participate in a second year by signing on or prior to Sept. 1st of this year.
So, I see it that you have to sign or NOT on or prior to Sept. 1st 2024 for the 2nd year.