Termination Due to Loss of Funding. In the event that State and/or Federal funding used to pay for services under this Agreement is reduced so that payments cannot be made in full, this Agreement shall automatically terminate, unless both parties agree to a modification of the obligations under this Agreement. The effective date of such termination shall be ninety (90) days after the Contractor receives written notice of the reduction in payment, unless available funds are insufficient to continue payments in full during the ninety (90) day period, in which case LDSS shall give the Contractor written notice of the earlier date upon which the Agreement shall terminate. A reduction in State and/or Federal funding cannot reduce monies due and owing to the Contractor on or before the effective date of the termination of the Agreement.
Termination Due to Loss of Funding. The parties hereto expressly recognize that the Local Agency is to be paid, reimbursed, or otherwise compensated with federal and/or State funds which are available to the State for the purposes of contracting for the Project provided for herein, and therefore, the Local Agency expressly understands and agrees that all its rights, demands and claims to compensation arising under this contract are contingent upon availability of such funds to the State. In the event that such funds or any part thereof are not available to the State, the State may immediately terminate or amend this contract.
Termination Due to Loss of Funding. This Contract will terminate, in whole or in part, at the discretion of the City in the event that the funds for the project are withdrawn. In this event, the City will give the Contractor advance written notice which sets forth the effective date of the termination and explain that the termination is due to a loss of Project funding.
Termination Due to Loss of Funding. The parties hereto expressly recognize that the Loan is made to the Borrower with State funds which are available to the Lender for the purposes of making a loan for the purposes described herein, and therefore, the Borrower expressly understands and agrees that all its rights, demands and claims to a loan arising under this Agreement are contingent upon availability of such funds to the Lender. In the event that such funds or any part thereof are not available to the Lender, the Lender may immediately terminate or amend this Agreement.
Termination Due to Loss of Funding. The parties hereto expressly recognize that the Loan is made to the Borrower with State funds which are available to the Lender for the purposes of making a loan for the purposes described herein, and therefore, the Borrower expressly understands and agrees that all its rights, demands and claims to a loan arising under this Agreement are contingent upon availability of such funds to the Lender. In the event that such funds or any part thereof are not available to the Lender, the Lender may immediately terminate or amend this Agreement. _$ For VALUE RECEIVED, THE COLORADO HIGH PERFORMANCE TRANSPORTATION ENTERPRISE (the "Maker") subject to and in accordance with a Loan Agreement dated the [Date], promises to pay to the Colorado Department of Transportation (the "Holder") the principal sum of up to $4,000,000.00, with interest from date at the rate 3.5% per annum on the balance from time to time remaining unpaid. The said principal and interest shall be payable in lawful money of the United States of America at 0000 X. Xxxxxx Place, Denver, CO 80204 or at such place as may hereafter be designated by written notice from the Holder to the Maker hereof, on the date and in the manner following: Subject to the requirements of the Financing Agreements, Maker shall pay to the Lender of the Outstanding Amount of the Loan on the Maturity Date. The Maker shall be credited for any payments made prior to the Maturity Date and the interest due shall also be updated to reflect such payments. COLORADO HIGH PERFORMANCE TRANSPORTATION ENTERPRISE By: Its Attest: Effective Date Interest Rate: 6/30/2023 3.50% Period Ending Beginning Balance Disbursements1 Interest Accrued Interest Paid2 Principal Paid3 Total Payments Ending Balance 6/30/2023 - 850,000 - - - 850,000 6/30/2024 850,000 3,150,000 29,750 (29,750) (29,750) 4,000,000 6/30/2025 4,000,000 140,000 (140,000) (140,000) 4,000,000 6/30/2026 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2027 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2028 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2029 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2030 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2031 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2032 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2033 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2034 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/2035 4,000,000 - 140,000 (140,000) (140,000) 4,000,000 6/30/...
Termination Due to Loss of Funding. If City funds are utilized to fund any part of this Agreement, the Contractor understands that those City funds for the payment for work performed by the Contractor under this Agreement have been provided through the City's budget approved by City Council for the current fiscal year only. State statutes prohibit the obligation and expenditure of public funds beyond the fiscal year for which a budget has been approved. The City cannot guarantee the availability of funds, and enters into this Agreement only to the extent such funds are made available. The Contractor acknowledges and agrees that it will have no recourse
Termination Due to Loss of Funding. The parties hereto expressly recognize that the Loan is made to the Borrower with State funds which are available to the Lender for the purposes of making a loan for the purposes described herein, and therefore, the Borrower expressly understands and agrees that all its rights, demands and claims to a loan arising under this Agreement are contingent upon availability of such funds to the Lender. In the event that such funds or any part thereof are not available to the Lender, the Lender may immediately terminate or amend this Agreement. FOR THE COLORADO DEPARTMENT OF TRANSPORTATION: By: Name: Title: FOR THE COLORADO HIGH PERFORMANCE TRANSPORTATION ENTERPRISE: By: Name: Title: APPROVED: By: Name: Title: Assistant Attorney General
Termination Due to Loss of Funding. The parties hereto expressly recognize that Vendor is to be paid, reimbursed, or otherwise compensated with funds provided to or appropriated by County for the purpose of contracting for the services provided for herein, and therefore, Vendor expressly understands and agrees that all its rights, demands, and claims to compensation arising under this Agreement are contingent upon receipt or appropriation of such funds by County. In the event that such funds or any part thereof are not received or appropriated by County, County may immediately terminate this Agreement without liability, including liability for termination costs.
Termination Due to Loss of Funding. This Agreement will terminate, in whole or in part, at the discretion of the OWNER in the event that the U.S. Forest Service Bark Beetle/White Pine Blister Rust Program reduces or terminates payments which may prevent the OWNER from paying the CONTRACTOR with federal aid funds. In this event, the OWNER will give the CONTRACTOR advance written notice which sets forth the effective date of the termination and explain that the termination is due to a loss or reduction of funding from the U.S.
Termination Due to Loss of Funding. This Contract will terminate in whole or in part, at the sole discretion of the Department, in the event that the Department suffers a loss of funding or termination of the Federal grant which permits it to fund the Grantee in whole or in part, thereby rendering the Department unable to make payment to the Grantee. In this event, the Department will give the Grantee written notice setting forth the effective date of full or partial termination or, if a change in funding is required, setting forth the change in funding and changes in the approved budget.
