Common use of Termination for Funding Insufficiency Clause in Contracts

Termination for Funding Insufficiency. Notwithstanding anything to the contrary in any Contract document, the DRS may terminate the Contract in whole or in part if funds sufficient to pay obligations under the Contract are not appropriated or received from an intended third-party funding source. In the event of such insufficiency, the Contractor shall be provided at least fifteen (15) calendar days’ written notice of termination. Any partial termination of the Contract under this section shall not be construed as a waiver of, and shall not affect, the rights and obligations of any party regarding portions of the Contract that are not terminated. The determination by the DRS of insufficient funding shall be accepted by and shall be final and binding on the Contractor.

Appears in 7 contracts

Samples: Supplemental Employment Services Agreement, Supported Employment Services Agreement, Supported Employment Services Agreement

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