Common use of Funding Loss Clause in Contracts

Funding Loss. In the event the AGENCY violates a State Law, State Department of Education rule, BOARD policy, and/or other covenant set forth herein, and said violation results in a loss of funding to the BOARD, the AGENCY shall reimburse the BOARD for the full amount of the loss. This provision shall remain in force, even if the agreement is terminated, for a period of (3) three years or until all state audits are conducted, whichever occurs first.