FISCAL FUNDING definition

FISCAL FUNDING. The Grantor’s obligations hereunder shall cease immediately, without penalty or further payment being required, in any year for which the General Assembly of the State of Illinois fails to make an appropriation sufficient to pay such obligation or the U.S. Department of Homeland Security, Federal Emergency Management Agency, Grants Programs Directorate (DHS FEMA GPD) fails to provide the funds. The Grantor shall give Grantee notice of such termination for funding as soon as practicable after Grantor becomes aware of the failure of funding. Grantee’s obligation to perform work shall cease upon notice by Grantor of lack of appropriated funds.
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Examples of FISCAL FUNDING in a sentence

  • FISCAL FUNDING: A multi-year lease or lease/purchase arrangement (if requested by the Special Requirements/Instructions), or any contract continuing as a result of an extension option, must include a “fiscal funding out” clause.

  • Failure to maintain required Insurance FISCAL FUNDING OUT CLAUSE The University reserves the right to cancel and/or suspend the established contract if funds for the continuation of these contracted services are eliminated or are not fully appropriated in subsequent years.

  • FISCAL FUNDING While the parties intend for the term of this Agreement to be five (5) years, the term is subject to, and conditioned on, the appropriation, availability and budgeting of sufficient funds.

  • ARTICLE XIV FISCAL FUNDING The continuation of this contract is contingent upon the appropriation of funds to fulfill the requirements of the contract by the legislature.

  • FISCAL FUNDING While the parties intend for the term of this Agreement to be three (3) years, the term is subject to, and conditioned on, the appropriation, availability and budgeting of sufficient funds.

  • FISCAL FUNDING If the contract extends beyond the end to the current funding year, it shall be understood that purchases in future funding years are conditional on the receipt of federal and/or state funds.

  • FISCAL FUNDING The continuation of this contract is contingent upon the appropriation of funds to fulfill the requirements of the contract by the legislature.

  • FISCAL FUNDING: A multi-year lease or lease/purchase arrangement (if requested by the Special Requirements/Instructions), or any contract continuing as a result of an extension option, must include fiscal funding out.

  • FISCAL FUNDING: A multi-year lease or lease/purchase arrangement (if requested by the specifications), or any contract continuing as a result of an extension option, must include fiscal funding out.

  • FISCAL FUNDING OUT COUNTY reasonably believes that funds can be obtained sufficiently to make all payments during the term of CONTRACT.

Related to FISCAL FUNDING

  • Total Funded Debt means all Funded Debt of the Borrower and its Consolidated Subsidiaries, on a consolidated basis, as determined in accordance with GAAP.