Economic Self-Sufficiency Clause Samples
The Economic Self-Sufficiency clause establishes a requirement that a party, often an individual or entity, must be able to financially support themselves without relying on external assistance. In practice, this clause may require proof of income, assets, or employment to demonstrate the ability to meet living expenses or contractual obligations independently. Its core function is to ensure that the party is not a financial burden on others involved in the agreement, thereby reducing the risk of default or dependency.
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Economic Self-Sufficiency. The Non-Federal Parties recognize and support that the consideration for the settlement of the Provisionally Settled Tribal Water Right Claims and conditional relinquishments of Tribal claims related to certain water resources in section 2.5 is based, in part, on the expectations of the Klamath Tribes and the United States that certain benefits, in addition to those benefits enumerated in the Klamath Basin Restoration Agreement (KBRA) and Klamath Hydroelectric Settlement Agreement (KHSA), will be received by the Klamath Tribes before settlement is complete as described in this subsection 2.4 and in section 10. These benefits are: (1) congressional establishment and subsequent funding of a Tribal economic development fund in the amount of $40 million, with the parameters of funding, fund access, and use to be established in Federal Authorizing Legislation for the settlement, and (2) the payment of $1 million annually from the Department of the Interior to the Tribes, for a period of five years, to address Tribal needs during the Transition Period beginning in 2014. The Non-Federal Parties agree to support legislation and administrative actions by the Interior Department so that the requirements of this section are met.
Economic Self-Sufficiency. The Non-Federal Parties will work to support efforts by the Klamath Tribes to address short-term and long-term economic goals.
Economic Self-Sufficiency. Possession of economic resources which are sufficient for ongoing solvency at a generally acceptable standard of living.
Economic Self-Sufficiency. Achieved when at least one client in the family unit reaches his/her 180-days follow-up, is employed, and the total household income meets or exceeds 133% of the Federal Poverty Level income standards for the family size.