Common use of Funding for the Remainder of the Initial Term Clause in Contracts

Funding for the Remainder of the Initial Term. Starting in the First Full Year (as defined in section 1.1(c)) and in each subsequent year in which the HAP Contract is effective, subject to the availability of sufficient appropriations, HUD will obligate funding in accordance with this HAP Contract and provide the Owner written notification of (i) the amount of such additional funding, (ii) the approximate period of time within the HAP Contract term to which it will be applied.

Funding for the Remainder of the Initial Term. Starting in the First Full Year (as defined in section 1.1(c)) and in each subsequent year in which the HAP Contract contract is effective, subject to the availability of sufficient appropriations, HUD will obligate funding in accordance with this HAP Contract and provide the Owner written notification of (i) the amount of such additional funding, (ii) the approximate period of time within the HAP Contract term to which it will be applied.