Common use of TERMINATION FOR FINANCIAL EXIGENCY Clause in Contracts

TERMINATION FOR FINANCIAL EXIGENCY. The RCUOG shall have the right to terminate this Agreement for financial exigency by giving the Contractor at least thirty (30) days prior written notice. For purposes of this provision, a financial exigency shall be a determination made by the executive director of RCUOG in the event the Federal granting agency or private sector entity fails to fund RCUOG for this program. If notice of such termination is so given, this Agreement shall terminate on the expiration of the time period specified in the notice, and the liability of the parties hereunder for further performance of the terms of this Agreement shall thereupon cease, but the parties shall not be released from the duty to perform their obligations up to the date of termination.

TERMINATION FOR FINANCIAL EXIGENCY. The RCUOG shall have the right to terminate this Agreement for financial exigency by giving the Contractor at least thirty (30) days prior written notice. For purposes of this provision, a financial exigency shall be a determination made by the executive director President of the RCUOG based on the Guam Legislature’s failure to fund this contract or in the event the Federal granting agency or private sector entity Granting Agency fails to fund RCUOG the University for this program. If notice of such termination is so given, this Agreement shall terminate on the expiration of the time period specified in the notice, and the liability of the parties hereunder for further performance of the terms of this Agreement shall thereupon cease, but the parties shall not be released from the duty to perform their obligations up to the date of termination.

TERMINATION FOR FINANCIAL EXIGENCY. The RCUOG shall have the right to terminate this Agreement for financial exigency by giving the Contractor at least thirty (30) days prior written notice. For purposes of this provision, a financial exigency shall be a determination made by the executive director President of the RCUOG based on the Guam Legislature’s failure to fund this contract or in the event the Federal granting agency or private sector entity Granting Agency fails to fund the RCUOG for this program. If notice of such termination is so given, this Agreement shall terminate on the expiration of the time period specified in the notice, and the liability of the parties hereunder for further performance of the terms of this Agreement shall thereupon cease, but the parties shall not be released from the duty to perform their obligations up to the date of termination.