Common use of Definition of Financial Exigency Clause in Contracts

Definition of Financial Exigency. 34.1.1 Financial exigency is a substantial and recurring financial crisis that threatens the continued operations of OC. 34.1.2 OC undertakes that lay-off of continuing employees for financial reasons shall occur only during a state of financial exigency. Furthermore, such layoffs shall occur after efforts to alleviate the financial crisis by economies in all other segments of the budget have been undertaken and after all reasonable means of improving OC’s revenues have been exhausted. The necessity must arise from the total OC budget.

Definition of Financial Exigency. ‌ 34.1.1 Financial exigency is a substantial and recurring financial crisis that threatens the continued operations of OC. 34.1.2 OC undertakes that lay-off of continuing employees for financial reasons shall occur only during a state of financial exigency. Furthermore, such layoffs shall occur after efforts to alleviate the financial crisis by economies in all other segments of the budget have been undertaken and after all reasonable means of improving OC’s revenues have been exhausted. The necessity must arise from the total OC budget.

Definition of Financial Exigency. 34.1.1 37.1.1 Financial exigency is when a substantial and recurring financial crisis that threatens the continued operations of OCOUC. 34.1.2 OC 37.1.2 OUC undertakes that lay-off of continuing probationary, candidacy or tenured employees for financial reasons shall occur only during a state of financial exigency. Furthermore, such layoffs shall occur after efforts to alleviate the financial crisis by economies in all other segments of the budget have been undertaken and after all reasonable means of improving OCOUC’s revenues have been exhausted. The necessity must arise from the total OC OUC budget.

Definition of Financial Exigency. 34.1.1 3 4.1.1 Financial exigency is a substantial and recurring financial crisis that threatens the continued operations of OC. 34.1.2 OC undertakes that lay-off of continuing employees for financial reasons shall occur only during a state of financial exigency. Furthermore, such layoffs shall occur after efforts to alleviate the financial crisis by economies in all other segments of the budget have been undertaken and after all reasonable means of improving OC’s revenues have been exhausted. The necessity must arise from the total OC budget.

Definition of Financial Exigency. 34.1.1 29.1.1 Financial exigency is a substantial and recurring financial crisis that threatens the continued operations of OC. 34.1.2 29.1.2 OC undertakes that lay-off of continuing employees for financial reasons shall occur only during a state of financial exigency. Furthermore, such layoffs shall occur after efforts to alleviate the financial crisis by economies in all other segments of the budget have been undertaken and after all reasonable means of improving OC’s revenues have been exhausted. The necessity must arise from the total OC budget.