Period of the Agreements. This Master Agreement and the Local Project Advance Funding Agreements (LPAFAs) subject to this Master Agreement become effective when signed by the last party whose signing makes the respective agreements fully executed. This Master Agreement shall remain in effect until terminated as provided in Article 2. Termination of this Master Agreement This agreement may be terminated by any of the following conditions: by mutual written consent and agreement of all parties. by any party with 90 days written notice. If this Master Agreement is terminated under this clause, all existing, fully executed LPAFAs made under this Master Agreement shall automatically incorporate all the provisions of this Master Agreement. by either party, upon the failure of the other party to fulfill the obligations as set forth in this Master Agreement. Termination of the Local Project Advance Funding Agreement (LPAFA) An LPAFA shall remain in effect until the project is completed and accepted by all parties, unless: the agreement is terminated in writing with the mutual consent of the parties, or; because of a breach of this Master Agreement or a breach of the Local Project Advance Funding Agreement. Any cost incurred due to a breach of contract shall be paid by the breaching party. After the PS&E the local government may elect not to provide the funding and the project does not proceed because of insufficient funds; the local government agrees to reimburse the State for its reasonable actual costs incurred during the project. Conditions for termination as specified in the LPAFA are fulfilled.
Period of the Agreements. This Master Agreement and the Local Project Advance Funding Agreements (LPAFAs) subject to this Master Agreement become effective when signed by the last party whose signing makes the respective agreements fully executed. This Master Agreement shall remain in effect until terminated as provided in Article 2.
