Common use of Failure to Budget Clause in Contracts

Failure to Budget. Notwithstanding any provision of this Agreement to the contrary, a member may withdraw by giving prior written notice thirty (30) days in advance to each of the other parties indicating its intent to terminate its participation in this Agreement as of the end of the month following the expiration of such thirty (30) days, provided, however, withdrawal under this section can only be invoked if the corporate authorities of such member, or the legislature in the case of the University, have failed or refused to authorize, appropriate or budget the funds necessary to pay such member’s share of the costs, as such costs are determined by the Policy Committee pursuant to this Agreement. Each party will utilize its best efforts to appropriate and budget sufficient funds to meet its obligations under this Agreement in full.

Failure to Budget. Notwithstanding any provision of this Agreement to the contrary, a member Member may withdraw by giving prior written notice thirty (30) days in advance to each of the other parties Parties indicating its intent to terminate its participation in this Agreement as of the end of the month following the expiration of such thirty (30) days, provided, however, withdrawal under this section can only be invoked if the corporate authorities of such memberMember, or the legislature in the case of the University, have failed or refused to authorize, appropriate or budget the funds necessary to pay such member’s Member's share of the costs, as such costs are determined by the Policy Committee pursuant to this Agreement. Each party will utilize its best efforts to appropriate and budget sufficient funds to meet its obligations under this Agreement in full.