Common use of Reductions in Federal, State and/or City Funding Clause in Contracts

Reductions in Federal, State and/or City Funding. 5.7.1 This Agreement is funded in whole or in part by funds secured from the federal, State and/or City governments, or with the Corporation’s own funds, the expenditure of which were approved by the Corporation in accordance with its operating procedures. Should there be a reduction or discontinuance of such funds by action of the federal, State and/or City governments, the Corporation shall have, in its sole discretion, the right to terminate this Agreement in whole or in part, or to reduce the funding and/or level of services of this Agreement caused by such action by the federal, State and/or City governments. This right shall include, but not limited to, in the case of exercise of the reduction option, the reduction or elimination of programs, services or service components, the reduction or elimination of contract-reimbursable staff or staff-hours, and corresponding reductions in the Agreement budget and the total amount payable under this Agreement. Any reduction in funds pursuant to this Section shall be accompanied by an appropriate reduction in the services required to be performed under this Agreement. 5.7.2 Any total discontinuance of funds pursuant to Section 5.5.1 shall be effective immediately upon written notice to the Contractor. Any reduction in funds pursuant to Section 5.7.3 If the Corporation terminates or otherwise reduces funding pursuant to this Section 5.7, the Corporation shall pay for services provided in accordance with this Agreement prior to the termination or reduction date and any obligation necessarily incurred by the Contractor in accordance with the terms of this Agreement prior to receipt of notice of termination or reduction and falling due after said date.

Reductions in Federal, State and/or City Funding. 5.7.1 7.4.1 This Agreement is funded in whole or in part by funds secured from the federal, State and/or City governments, or with the Corporation’s own funds, the expenditure of which were approved by the Corporation in accordance with its operating procedures. Should there be a reduction or discontinuance of such funds by action of the federal, State and/or City governments, the Corporation shall have, in its sole discretion, the right to terminate this Agreement in whole or in part, or to reduce the funding and/or level of services of this Agreement caused by such action by the federal, State and/or City governments. This right shall include, but not limited to, in the case of exercise of the reduction option, the reduction or elimination of programs, services or service components, the reduction or elimination of contract-reimbursable staff or staff-hours, and corresponding reductions in the Agreement budget and the total amount payable under this Agreement. Any reduction in funds pursuant to this Section shall be accompanied by an appropriate reduction in the services required to be performed under this Agreement.of 5.7.2 7.4.2 Any total discontinuance of funds pursuant to Section 5.5.1 7.4.1 shall be effective immediately upon written notice to the Contractor. Any reduction in funds pursuant to Section 5.7.3 7.4.3 If the Corporation terminates or otherwise reduces funding pursuant to this Section 5.77.4, the Corporation shall pay for services provided in accordance with this Agreement prior to the termination or reduction date and any obligation necessarily incurred by the Contractor in accordance with the terms of this Agreement prior to receipt of notice of termination or reduction and falling due after said date.