Appropriations and Continuation of Charter Sample Clauses

Appropriations and Continuation of Charter. The terms of this Agreement are contingent upon sufficient appropriations and authorizations being made by the Legislature of New Mexico to School for the performance of this Agreement. If sufficient appropriations and authorizations are not made by the Legislature, this Agreement shall terminate immediately upon written notice being given by School to Contractor. School’s decision as to whether sufficient appropriations are available shall be accepted by Contractor and shall be final. If School proposes an amendment to the Agreement to unilaterally reduce funding, Contractor shall have the option to terminate the Agreement or agree to the reduced funding, within thirty
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Appropriations and Continuation of Charter 
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Related to Appropriations and Continuation of Charter

  • Term and Continuation This Agreement shall take effect as of the date hereof, and shall remain in effect, unless sooner terminated as provided herein, until September 30, 2003, and shall continue thereafter on an annual basis with respect to each Series, provided that such continuance is specifically approved at least annually (a) by the vote of a majority of the Board, or (b) by vote of a majority of the outstanding voting securities of the Series, and provided continuance is also approved by the vote of a majority of the Board who are not parties to this Agreement or "interested persons" (as defined in the 1940 Act) of the Fund, cast in person at a meeting called for the xxxxxxx of voting on such approval. This Agreement may be terminated at any time, without the payment of any penalty with respect to the entire Fund or only with respect to one or more Series thereof: (a) by the Fund at any time with respect to the services provided by the Administrator by vote of (1) a majority of the Board members who are not "interested persons" (as such term is defined in the 1940 Act) of the Fund, or (2) a majority of the outstanding voting shares of the Fund or, with respect to a particular Series, by vote of a majority of the outstanding voting shares of such Series, on 60 days' written notice to the Administrator; and (b) by the Administrator on or after September 30, 2003, without the payment of any penalty, upon 60 days' written notice to the Fund.

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