Common use of Contract Funding Clause in Contracts

Contract Funding. (a) This Contract shall not be construed as creating any debt on behalf of the State of Texas or the GLO in violation of Article III, Section 49, of the Texas Constitution. The GLO’s obligations hereunder are subject to the availability of state funds and/or federal funds, if such federal funds are identified in the applicable Work Order. If adequate funds are not appropriated or become unavailable, the GLO may terminate this Contract and/or any applicable Work Order(s). In that event, the Parties shall be discharged from further obligations, subject to the equitable settlement of their interests accrued up to the date of termination.

Contract Funding. (a) This Contract shall not be construed as creating any debt on behalf of the State of Texas or the GLO GLO/VLB in violation of Article III, Section 49, of the Texas Constitution. The GLO/VLB’s obligations hereunder are subject to the availability of state funds and/or federal funds, if such federal funds are identified in the applicable Work Order. If adequate funds are not appropriated or become unavailable, the GLO GLO/VLB may terminate this Contract and/or any applicable Work Order(s). In that event, the Parties shall be discharged from further obligations, subject to the equitable settlement of their interests accrued up to the date of termination.