Funds at termination Clause Samples

Funds at termination. (a) Immediately upon sending or receiving a notice of termination, the Federation will cease all disbursement of funds to the National Society and will not make any forward commitments, ensuring, however, that sufficient funds are available for the National Society to meet all contractual commitments incurred by it prior to the date of termination, for the purpose of implementing the Project, and which cannot be legally voided. (b) Unless otherwise agreed in writing by the Federation, all unspent funds will be returned to the Federation within thirty (30) days of termination or end of the Term.