Common use of Funding Reduction in Subsequent Fiscal Years Clause in Contracts

Funding Reduction in Subsequent Fiscal Years. 1. If funding for any State fiscal year is reduced or eliminated by the Legislature, Congress, or Executive Branch of State Government for the purposes of this program, the State shall have the option to either: a. Terminate the Contract pursuant to Exhibit D, Article XII b. Offer a contract amendment to the Contractor to reflect the reduced funding for this contract 2. In the event that the State elects to offer an amendment, it shall be mutually understood by both parties that the State reserves the right to determine which contracts, if any, under this program shall be reduced and that some contracts may be reduced by a greater amount than others. The State shall determine, at its sole discretion, the amount that any or all of the contracts shall be reduced for the fiscal year.

Funding Reduction in Subsequent Fiscal Years. 1. If funding for any State fiscal year is reduced or eliminated deleted by the Legislature, Congress, or Executive Branch of State Government for the purposes of this program, the State shall have the option to either: a. Terminate the Contract pursuant to Exhibit D, Article XIIXIII., A b. Offer a contract amendment to the Contractor to reflect the reduced funding for this contract 2. In the event that the State elects to offer an amendment, it shall be mutually understood by both parties that the State reserves the right to determine which contracts, if any, under this program shall be reduced and that some contracts may be reduced by a greater amount than others. The State shall determine, at its sole discretion, the amount that any or all of the contracts shall be reduced for the fiscal year.