FISCAL FUNDING definition

FISCAL FUNDING. The Grantor’s obligations hereunder shall cease immediately, without penalty or further payment being required, in any year for which the General Assembly of the State of Illinois fails to make an appropriation sufficient to pay such obligation or the U.S. Department of Homeland Security, Federal Emergency Management Agency, Grants Programs Directorate (DHS FEMA GPD) fails to provide the funds. The Grantor shall give Grantee notice of such termination for funding as soon as practicable after Grantor becomes aware of the failure of funding. Grantee’s obligation to perform work shall cease upon notice by Grantor of lack of appropriated funds.
Sample 1
FISCAL FUNDING. IEMA’s obligations hereunder shall cease immediately, without penalty or further payment being required, in any year for which USDOT fails to provide the funds, or the Illinois General Assembly fails to make an obligation sufficient to pay such obligation. IEMA shall give the Grantee notice of such termination for funding as soon as practicable after IEMA becomes aware of the failure of funding. The Grantee’s obligation to perform work shall cease upon notice by IEMA of lack of appropriated funds.
Sample 1

Examples of FISCAL FUNDING in a sentence

  • FISCAL FUNDING If the contract extends beyond the end to the current funding year, it shall be understood that purchases in future funding years are conditional on the receipt of federal and/or state funds.

  • FISCAL FUNDING OUT COUNTY reasonably believes that funds can be obtained sufficiently to make all payments during the term of CONTRACT.

  • Figure 15: Example for scale reading on a typical smolt scale (Age: 1+, Size: 150 mm, Date of capture: 06.04.2016).

  • THIS AGREEMENT IS NON-CANCELABLE BY CUSTOMER EXCEPT AS DESCRIBED IN THE FISCAL FUNDING PROVISION HEREIN.

  • FISCAL FUNDING: The continuation of this contract is contingent upon the appropriation of funds to fulfill the requirements of the contract by the legislature.

  • FISCAL FUNDING OUT CLAUSE: STATE SHALL USE ITS BEST EFFORTS TO SECURE SUFFICIENT APPROPRIATIONS TO FUND THIS CONTRACT.

  • F00938D: FISCAL FUNDING OUT: THE RENTAL AGREEMENT MAY BE CANCELLED FOR FISCAL FUNDING OUT PURPOSES OR FOR DOCUMENTED CAUSE.

  • FISCAL FUNDING OUT OWNER reasonably believes that funds can be obtained sufficiently to make all payments during the term of CONTRACT.

  • FISCAL FUNDING OUTCOUNTY reasonably believes that funds can be obtained sufficiently to make all payments during the term of CONTRACT.

  • FISCAL FUNDING: Obligations of the State shall cease immediately and without penalty or further payment being required, if in any fiscal year, the Illinois General Assembly fails to appropriate or otherwise make available appropriate funds for this contract.

Related to FISCAL FUNDING

  • Total Funded Debt means all Funded Debt of the Borrower and its Consolidated Subsidiaries, on a consolidated basis, as determined in accordance with GAAP.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.