Common use of Termination Due to Lack of Funds or Change in Law Clause in Contracts

Termination Due to Lack of Funds or Change in Law. Notwithstanding anything in this Agreement to the contrary, OCIO shall, upon written notice, have the right to terminate this Agreement and the applicable Governmental Entity shall, upon written notice, have the right to terminate a Purchasing Instrument without penalty or liability and without any advance notice as a result of any of the following: 9.4.1. The legislature, governor, or other applicable governing body fail in the sole opinion of OCIO or the applicable Governmental Entity to appropriate funds sufficient to allow OCIO or the applicable Governmental Entity to either meet its obligations under this Agreement or the applicable Purchasing Instrument or to operate as required and to fulfill its obligations under this Agreement or the applicable Purchasing Instrument; or 9.4.2. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by OCIO or the applicable Governmental Entity to make any payment hereunder are insufficient or unavailable for any other reason as determined by OCIO or the applicable Governmental Entity in its sole discretion; or 9.4.3. If OCIO’s or the applicable Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of this Agreement is withdrawn or materially altered or modified; or 9.4.4. If OCIO’s or the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or 9.4.5. If there is a decision of any court, administrative law judge or an arbitration panel or any law, rule, regulation, or order is enacted, promulgated. or issued that materially or adversely affects OCIO’s or the applicable Governmental Entity’s ability to fulfill any of its obligations under this Agreement or the applicable Purchasing Instrument.

Termination Due to Lack of Funds or Change in Law. Notwithstanding anything in this Agreement to the contrary, and subject to the limitations set forth below, OCIO shall, upon written notice, shall have the right to terminate this Agreement and the applicable Governmental Entity shall, upon written notice, have the right to terminate a Purchasing Instrument without penalty or liability and without any advance notice as a result of any of the following: 9.4.1. The Iowa state legislature, governor, or other applicable governing body fail in the sole opinion of OCIO or the applicable Governmental Entity to appropriate funds sufficient to allow OCIO or the applicable Governmental Entity to either meet its obligations under this Agreement or the applicable Purchasing Instrument or to operate as required and to fulfill its obligations under this Agreement or the applicable Purchasing Instrument; or 9.4.2. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by OCIO or the applicable Governmental Entity to make any payment hereunder are insufficient or unavailable for any other reason as determined by OCIO or the applicable Governmental Entity in its sole discretion; or 9.4.3. If OCIO’s or the applicable Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of this Agreement is withdrawn or materially altered or modified; or 9.4.4. If OCIO’s or the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or 9.4.5. If there is a decision of any court, administrative law judge or an arbitration panel of competent jurisdiction, or any law, rule, regulation, or order is enacted, promulgated. or issued issued, in either case that materially or and adversely affects OCIO’s or the applicable Governmental Entity’s ability to fulfill any of its obligations under this Agreement or the applicable Purchasing InstrumentInstrument or the operation of a System purchased hereunder.

Termination Due to Lack of Funds or Change in Law. Notwithstanding anything in this Agreement to the contrary, and subject to the limitations set forth below, OCIO shall, upon written notice, shall have the right to terminate this Agreement and the applicable Governmental Entity shall, upon written notice, have the right to terminate a Purchasing Instrument without penalty or liability and without any advance notice as a result of any of the following: 9.4.1. The legislature, governor, or other applicable governing body fail in the sole opinion of OCIO or the applicable Governmental Entity to appropriate funds sufficient to allow OCIO or the applicable Governmental Entity to either meet its obligations under this Agreement or the applicable Purchasing Instrument or to operate as required and to fulfill its obligations under this Agreement or the applicable Purchasing Instrument; or 9.4.2. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by OCIO or the applicable Governmental Entity to make any payment hereunder are insufficient or unavailable for any other reason as determined by OCIO or the applicable Governmental Entity in its sole discretion; or 9.4.3. If OCIO’s or the applicable Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of this Agreement is withdrawn or materially altered or modified; or 9.4.4. If OCIO’s or the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or 9.4.5. If there is a decision of any court, administrative law judge or an arbitration panel or any law, rule, regulation, or order is enacted, promulgated. or issued that materially or adversely affects OCIO’s or the applicable Governmental Entity’s ability to fulfill any of its obligations under this Agreement or the applicable Purchasing InstrumentInstrument or the operation of a System purchased hereunder.

Termination Due to Lack of Funds or Change in Law. Notwithstanding anything in this Agreement to the contrary, OCIO the State or Governmental Entity shall, upon written notice, have the right to terminate this Agreement and the applicable State or Governmental Entity shall, upon written notice, have the right to terminate a Purchasing Instrument without penalty or liability and without any advance notice as a result of any of the following: 9.4.1. The legislature, governor, or other applicable governing body fail in the sole opinion of OCIO the State or the applicable Governmental Entity to appropriate funds sufficient to allow OCIO the State or the applicable Governmental Entity to either meet its obligations under this Agreement or the applicable Purchasing Instrument or to operate as required and to fulfill its obligations under this Agreement or the applicable Purchasing Instrument; or 9.4.2. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by OCIO the State or the applicable Governmental Entity to make any payment hereunder are insufficient or unavailable for any other reason as determined by OCIO the State or the applicable Governmental Entity in its sole discretion; or 9.4.3. If OCIO’s the State or the applicable Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of this Agreement is withdrawn or materially altered or modified; or 9.4.4. If OCIO’s the State or the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or 9.4.5. If there is a decision of any court, administrative law judge or an arbitration panel or any law, rule, regulation, or order is enacted, promulgated. or issued that materially or adversely affects OCIO’s the State or the applicable Governmental Entity’s ability to fulfill any of its obligations under this Agreement or the applicable Purchasing Instrument.