DECREASE IN FUNDING Sample Clauses
The "Decrease in Funding" clause defines the procedures and consequences that apply if the funding for a project or agreement is reduced. Typically, this clause outlines the steps the parties must take if the available funds are cut, such as adjusting the scope of work, modifying deliverables, or potentially suspending or terminating the agreement. For example, if a government grant is reduced mid-project, this clause would specify how the parties should respond and what obligations remain. Its core function is to allocate risk and provide a clear process for managing situations where anticipated funding is no longer fully available, thereby protecting both parties from uncertainty.
DECREASE IN FUNDING. If the Department determines that the Grantee is unable to spend the funding included in this Grant Agreement in a timely manner and that the Grantee is therefore unable to fully carry out the work required under the Agreement in the timeframe required by the Agreement, the Department reserves the right to decrease funding to the Grantee from any Budget year set out in Appendix C of this Grant Agreement by prior written notice signed by the Department and the Comptroller. The decrease in funding shall be reflected by a revised Budget and if necessary, shall also include a revised Work Statement showing any reduction in work resulting from the decrease in funding. The decision to decrease funding is solely within the discretion of the Department.
DECREASE IN FUNDING. If the Regional Subrecipient determines that the Program Subrecipient is unable to spend the funding included in this Sub-grant Agreement in a timely manner and that the Program Subrecipient is therefore unable to fully carry out the work required under the Sub-grant Agreement in the timeframe required by the Sub-grant Agreement, the Regional Subrecipient reserves the right to decrease funding to the Program Subrecipient by prior written notice. The decrease in funding shall be reflected by a revised Budget and, if necessary, shall also include a revised Work Statement showing any reduction in work resulting from the decrease in funding. The decision to decrease funding is solely within the discretion of the Regional Subrecipient.