Common use of Termination Due To Lack of Funds Clause in Contracts

Termination Due To Lack of Funds. In the event funds to finance this Contract become unavailable or if County or State funds upon which this contract is dependent are withdrawn or redirected, Customer may terminate this Contract upon no less than twenty-four (24) hours’ notice in writing to Contractor. Said notification shall be delivered by certified mail, return receipt requested or in person with proof of delivery. Customer shall be the final authority as to the availability of funds and will not reallocate funds earmarked for this Contract to another program thus causing “lack of funds”. In the event of termination of this Contract under this provision, Contractor will be compensated for any work satisfactorily completed prior to notification of termination and no termination charges will be assessed.

Appears in 5 contracts

Samples: Master Services Agreement, Master Services Agreement, Master Services Agreement

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