Common use of Termination Due to the Lack of Funds Clause in Contracts

Termination Due to the Lack of Funds. If funds to finance this Contract become unavailable or if federal or state funds upon which this Contract is dependent are withdrawn or redirected, the SFWIB, in its sole discretion, may terminate this Contract upon no less than twenty-four (24) hours’ notice in writing to the Contractor. Said notice shall be delivered by certified mail, return receipt requested or in person with proof of delivery. The SFWIB 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, the Contractor will be compensated for any work completed to SFWIB’s satisfaction prior to the date of the notification of termination. The Contractor shall not be entitled to recover any cancellation charges, consequential damages, indirect costs, or lost profits

Termination Due to the Lack of Funds. If funds received by SFWIB to finance this Contract become unavailable or if federal or state funds upon which this Contract is dependent are withdrawn or redirected, the SFWIB, in its sole discretion, may terminate this Contract upon no less than twenty-four (24) hours’ notice notice, in writing writing, to the Contractor. Said notice shall must be delivered by certified mail, return receipt requested or in person with proof of delivery. The SFWIB shall be the final authority as to the availability of funds and will may 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 provisiondue to the lack of funds, the SFWIB shall compensate the Contractor will be compensated for any work completed to SFWIB’s satisfaction in accordance with the terms of the Contract prior to the date of the notification of termination. The Contractor shall not be entitled to recover any cancellation charges, consequential damages, indirect costs, or lost profitsprofits as a result of a termination due to the lack of funds.

Termination Due to the Lack of Funds. If funds received by SFWIB to finance this Contract become unavailable or if federal or state funds upon which this Contract is dependent are withdrawn or redirected, the SFWIB, in its sole discretion, may terminate this Contract upon no less than twenty-four (24) hours’ notice notice, in writing writing, to the Contractor. Said notice shall must be delivered by certified mail, return receipt requested or in person with proof of delivery. The SFWIB shall be the final authority as to the availability of funds and will may 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 provisiondue to the lack of funds, the SFWIB shall compensate the Contractor will be compensated for any work completed to SFWIB’s satisfaction in accordance with the terms of the Contract prior to the date of the notification of termination. The Contractor shall not be entitled to recover any cancellation charges, consequential damages, indirect costs, or lost profitsprofits as a result of a termination due to the lack of funds.‌‌‌‌‌‌