By Consortium Sample Clauses
The "By Consortium" clause defines the rights and responsibilities of a group of entities (the consortium) acting collectively under an agreement. Typically, this clause outlines how decisions are made within the consortium, how obligations are shared among members, and how the consortium interacts with third parties or the contracting authority. For example, it may specify that all consortium members are jointly and severally liable for the performance of the contract, or detail the process for appointing a lead member to represent the group. The core function of this clause is to ensure coordinated action and clear allocation of duties among consortium members, thereby reducing ambiguity and managing collective risk in joint projects.
By Consortium. The Consortium may terminate this Agreement for cause at any time if any covenant, warranty, or representation made by Subrecipient in this Agreement or in its application for funding submitted to the Consortium shall at any time be false or misleading in any respect, or in the event of the failure of the Subrecipient to comply with the terms and conditions of this Agreement. Prior to termination, the Consortium shall provide fifteen (15) days written notice of its intent to terminate and shall provide the Subrecipient an opportunity to consult with the Consortium regarding the reason(s) for termination.