Inadequate Funding Clause Samples
The Inadequate Funding clause allows a party to suspend or terminate its obligations under a contract if sufficient funds are not available to fulfill those obligations. Typically, this clause is used in agreements involving government entities or organizations dependent on budget appropriations, where continued performance is contingent on receiving necessary funding. Its core function is to protect parties from being legally bound to perform when financial resources are lacking, thereby allocating risk and ensuring that neither party is unfairly penalized due to circumstances beyond their control.
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Inadequate Funding. If adequate funds are not appropriated by the General Assembly to sustain this MOU, then the COM or the ATC may terminate the MOU by giving notice to the other party in writing at least 30 days in advance, or otherwise as promptly as possible before termination.
Inadequate Funding. The amount needed to fully fund such an endowed fund shall be that amount required by the School on the date the first gift is received into the Fund. If, after the specified pledge period is ended, the value of the Fund is less than the minimum required by the School as of the date of this Agreement for the establishment and continuing support of the named fund, the Fund may be transferred to and merged with an existing endowment or a current fund at the School approved by the School whose purpose will most nearly accomplish the Donor’s intention evidenced by the purpose described in the Endowment Summary.
Inadequate Funding. If, ___ years after the date of this agreement, the principal of the Fund is less than the minimum required as of the date of this agreement for the establishment of a named endowed fund, as determined by The New School in its sole discretion, the Fund shall be transferred to and merged with an endowment fund at the University whose purpose is in keeping with my special interest as evidenced by the purpose described above.
Inadequate Funding or [ ] N/A The amount needed to fully fund such an endowed fund shall be that amount required by the Charity on the date the first gift is received into the Fund. If, after the specified pledge period is ended, the value of the Fund is less than the minimum required by the Charity as of the date of this Agreement for the establishment and continuing support of the named fund, the Fund may be transferred to and merged with an existing endowment or other fund at the Charity approved by the Charity whose purpose will most nearly accomplish the Donor’s intention evidenced by the purpose described above.
Inadequate Funding. Inadequate funding for Charter Academy is grounds for the District to terminate this charter. Any financial commitment on the part of the District contained in this contract is subject to annual appropriation by the District and the parties agree that the District has no obligation to fund Charter Academy operations except as expressly provided herein.
Inadequate Funding. The minimum amount needed to fully endow the Fund shall be
Inadequate Funding. Subject to the limitations in Section 24.15 of this Agreement, the Parties and Reclamation have committed to provide substantial resources to ensure the proper implementation of the BDCP and, through the Plan and this Agreement, have provided assurances that adequate funding for such purposes will be available and forthcoming. A Fish and Wildlife Agency determination that the BDCP is not being adequately funded shall require a demonstration that: 1) a funding shortfall exists; and 2) such shortfall either a) prevents a specific action or actions from being implemented in a timely manner, as defined by the rough proportionality criteria set out in Chapter 6, or b) prevents a specific action or actions from being properly and fully implemented, as described in the relevant provisions of the BDCP. In the event of a funding shortfall from the Authorized Entities, the Fish and Wildlife Agencies will evaluate the impact of the shortfall on Plan implementation and determine whether the funding deficiency should affect the scope or ongoing viability of the regulatory authorizations. The Plan and this Agreement contain provisions that provide for rough proportionality and that are intended to ensure there would be no mitigation debt in the event of inadequate funding. If circumstances warrant suspension or revocation of one or both of the Federal Permits (and/or invalidation of Reclamations’ Incidental Take Statement) USFWS and NMFS may proceed pursuant to procedures in Sections 22.1, 22.2 and 22.3 of this Agreement. If CDFW determines adequate funding is not being provided by the Authorized Entities, CDFW may suspend or revoke the State Permit, in whole or in part, pursuant to the procedures in Section 22.4 of this Agreement. If the Authorized Entities elect to institute measures to cure the funding shortfall, implementation of such measures shall begin no later than ninety (90) days from the date of the meeting with the Fish and Wildlife Agencies. In the event of a shortfall in State or federal funding, a Fish and Wildlife Agency(ies) shall not suspend or revoke the State and/or Federal Permits or invalidate Reclamation’s take statement if the shortfall in funding is determined to be likely to have no more than a minimal effect on the capacity of the Plan to advance the biological goals and objectives. The Parties have committed to provide substantial resources to ensure the proper implementation of the Plan. The Plan is designed to demonstrate that this funding ...