Common use of Declaration of Financial Exigency Clause in Contracts

Declaration of Financial Exigency. 34.5.1 Not less than thirty (30) calendar days, and not more than sixty (60) calendar days, following the report of the Financial Exigency Committee to the Board, the Board shall either declare a financial exigency or declare that a financial exigency does not exist. 34.5.2 If the Board declares that a financial exigency does not exist the hiring freeze shall be ended. If the Board declares that a financial exigency does exist, the hiring freeze shall be extended until all necessary reductions under section 34.6.1 have been undertaken. 34.5.3 If by a vote of at least four (4) to one (1), the Financial Exigency Committee has found that the conditions that constitute a financial exigency do not exist, then the Board shall be precluded from declaring a financial exigency, invoking the provisions of this Article and initiating a layoff of employees for six (6) months from the date of the report of the Financial Exigency Committee. 34.5.4 Notwithstanding a finding by the Financial Exigency Committee that the conditions that constitute a financial exigency do not exist, the Board may declare a state of financial exigency provided that the basis for such a declaration is clearly stated and the basis on which it disagrees with the finding of the Financial Exigency Committee is also clearly stated. In such an instance, the period of notice provided to an employee concerning lay-off shall be six months greater than the notice provided for in clause 34.8.

Declaration of Financial Exigency. 34.5.1 29.5.1 Not less than thirty (30) calendar days, and not more than sixty (60) calendar days, following the report of the Financial Exigency Committee to the Board, the Board shall either declare a financial exigency or declare that a financial exigency does not exist. 34.5.2 29.5.2 If the Board declares that a financial exigency does not exist the hiring freeze shall be ended. If the Board declares that a financial exigency does exist, the hiring freeze shall be extended until all necessary reductions under section 34.6.1 29.6.1 have been undertaken. 34.5.3 29.5.3 If by a vote of at least four (4) to one (1), the Financial Exigency Committee has found that the conditions that constitute a financial exigency do not exist, then the Board shall be precluded from declaring a financial exigency, invoking the provisions of this Article and initiating a layoff of employees for six (6) months from the date of the report of the Financial Exigency Committee. 34.5.4 29.5.4 Notwithstanding a finding by the Financial Exigency Committee that the conditions that constitute a financial exigency do not exist, the Board may declare a state of financial exigency provided that the basis for such a declaration is clearly stated and the basis on which it disagrees with the finding of the Financial Exigency Committee is also clearly stated. In such an instance, the period of notice provided to an employee concerning lay-off shall be six months greater than the notice provided for in clause 34.829.8.

Declaration of Financial Exigency. 34.5.1 37.5.1 Not less than thirty (30) calendar days, and not more than sixty (60) calendar days, following the report of the Financial Exigency Committee to the Board, the Board shall either declare a financial exigency or declare that a financial exigency does not exist. 34.5.2 37.5.2 If the Board declares that a financial exigency does not exist the hiring freeze shall be ended. If the Board declares that a financial exigency does exist, the hiring freeze shall be extended until all necessary reductions under section 34.6.1 37.6.1 have been undertaken. 34.5.3 37.5.3 If by a vote of at least four (4) to one (1), the Financial Exigency Committee has found that the conditions that constitute a financial exigency do not exist, then the Board shall be precluded from declaring a financial exigency, invoking the provisions of this Article and initiating a layoff of employees for six (6) months from the date of the report of the Financial Exigency Committee. 34.5.4 37.5.4 Notwithstanding a finding by the Financial Exigency Committee that the conditions that constitute a financial exigency do not exist, the Board may declare a state of financial exigency provided that the basis for such a declaration is clearly stated and the basis on which it disagrees with the finding of the Financial Exigency Committee is also clearly stated. In such an instance, the period of notice provided to an employee concerning lay-off shall be six months greater than the notice provided for in clause 34.837.8.