Common use of Termination for Lack of Funding Clause in Contracts

Termination for Lack of Funding. Without limiting Agency’s right to terminate the Contract under Contract Section 16, nothing in this Agreement may be construed to permit any violation of Article XI, Section 7 of the Oregon Constitution or any other law regulating liabilities or monetary obligations of the State of Oregon. Agency’s payment for services performed or license fees due after the last Calendar Day of the current biennium is contingent upon Agency receiving funding, appropriations, limitations, allotments or other expenditure authority from the Oregon Legislative Assembly (including its Emergency Board) sufficient to allow Agency, in the exercise of its reasonable administrative discretion, to continue to compensate Contractor. Agency may immediately terminate this Agreement upon written notice if Agency fails to receive funding, appropriations, limitations, allotments, or other expenditure authority as contemplated by Agency’s budget or spending plan and Agency determines, in its assessment and ranking of the policy objectives explicit or implicit in its budget or spending plan, that it is necessary to terminate this Agreement.