Common use of Term Conditions Precedent Clause in Contracts

Term Conditions Precedent. A. This Contract is effective as of July 1, 2021, and shall continue through June 30, 2026. Although this Contract renews the operation of the School for an additional period of five (5) years, 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 the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application. B. The School shall comply with any conditions of renewal of School’s Contract as set forth in the Resolution attached to this Agreement as Attachment 1 (“Renewal Conditions of Approval”). The School’s failure to comply with one or more of the Renewal Conditions of Approval shall be a material breach of the Contract.

Term Conditions Precedent. ‌ A. This Contract is effective as of July 1, 2021, and shall continue through June 30, 2026. Although this Contract renews the operation of the School for an additional period of five (5) years, 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 the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application. B. The School shall comply with any conditions of renewal of School’s Contract as set forth in the Resolution attached to this Agreement as Attachment 1 (“Renewal Conditions of Approval”). The School’s failure to comply with one or more of the Renewal Conditions of Approval shall be a material breach of the Contract.

Term Conditions Precedent. A. This Contract is effective as of July 1, 2021, 2022 and shall continue through June 30, 20262027. Although this Contract renews the operation of the School for an additional period of five (5) years, 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 the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application. B. The School shall comply with any conditions of renewal of School’s Contract as set forth in the Resolution attached to this Agreement as Attachment 1 (“Renewal Conditions of Approval”). The School’s failure to comply with one or more of the Renewal Conditions of Approval shall be a material breach of the Contract.