Common use of Subsequent Funding Clause in Contracts

Subsequent Funding. All time limits stated in the Agreement documents are of the essence of the Agreement. The term of the Agreement shall be a seven (7) month period. Renewal options are contingent upon future funding availability and Program performance. Execution of option years may be determined by Program performance in the preceding year. If the Contractor does not achieve the stated outcomes, Agreements may not be renewed and those funds may be reprogrammed.