Financial Obligations of the Parties. All of the parties’ financial obligations under this Agreement are contingent upon appropriation, budgeting, and availability of specific funds to discharge those obligations. Nothing in this Agreement constitutes a debt, a direct or indirect multiple fiscal year financial obligation, a pledge of the parties’ credit, or a payment guarantee by either party to the other.
Financial Obligations of the Parties. 6.1 As of the Effective Date, the costs for Part I of the Project are estimated at EURO 3,500,000.00 (in words: EURO Three Million Five Hundred Thousand), and for Part II of the Project at EURO 1,500,000.00 (in words: EURO One Million Five Hundred Thousand), totalling EURO 5,000,000.00 (in words: EURO Five Million) for completion of the Ancrod Facilities.
Financial Obligations of the Parties. The Participating Entity shall reimburse the Department for all costs incurred by the Department resulting from the utilization of this Agreement. This will include, but is not limited to the following:
Financial Obligations of the Parties. TIME OF PERFORMANCE;
Financial Obligations of the Parties. The Department and the Participating Entity acknowledge that this Agreement is not intended to create financial obligations as between the parties. However, in the event that costs are incurred as a result of either or both of the parties performing their duties or responsibilities under this Agreement, each party agrees to be responsible for their own costs. The Department and the Participating Entity acknowledge that the services described in this agreement are contingent upon grant award funding. Accordingly, in the event that federal grant funding is awarded for the purpose of this Agreement, then the Participating Entity shall notify the Department in writing within ten (10) days of Participating Entity’s being informed of that decision so that the Department is aware this contingency has been met and the Agreement has become effective. In the event that federal grant funding is not awarded for the purpose of this Agreement, then the Participating Entity shall notify the Department in writing within ten (10) days of Participating Entity’s being informed of that decision. Said notice shall function as a mutual termination of this Agreement, and no further action to terminate the Agreement as contemplated by Section VI below will be required of either party.
