Failure to Appropriate. On or before July 1st of each year, each RCS Party and Associate must give written notification to the Program Manager/Xxxxxxxxxx County of its intent to appropriate its Subscriber Unit Fees. Following its governing body’s formal appropriation of such Subscriber Unit Fees, each RCS Party and Associate shall provide the Program Manager/Xxxxxxxxxx County with written documentation evidencing its formal appropriation. In the event that an RCS Party’s or Associate’s governing body fails to appropriate the necessary funds at the beginning of its fiscal year, such RCS Party or Associate may be considered to be in material breach of this Agreement and may be subject to termination as set forth herein in Subsection 18.03.
Failure to Appropriate. If the State has not obtained proper appropriation of the full amount of funds necessary to make Purchase Installments under the Purchase Agreement during the next succeeding fiscal year of the State, then the obligations of the State requiring the expenditure of appropriated funds will cease so long as all payments previously appropriated have been made and, commencing with the immediately succeeding fiscal year, the Buses shall be surrendered to the Trustee and the Certificates will be subject to mandatory redemption and subsequent sale of the Department’s interest in the Buses as provided in the Trust Agreement. In the event funds available therefrom are not sufficient to redeem the Certificates in full, then payment of a redemption price of less than 100 percent of the principal amount and accrued interest amount and accrued interest to the redemption date shall constitute a redemption in full of the Certificates, and the Owners hereof shall have no further claim for payment against the State or the Department. No assurance is given that such will be sufficient to pay the Purchase Installments when due.
Failure to Appropriate. Unless otherwise agreed to by the Parties, failure by either Party to appropriate moneys for the ensuing fiscal year to pay all amounts estimated to become due under this IGA for the ensuing fiscal year. Notwithstanding any provisions of this IGA to the contrary, the terms and obligations of this IGA are subject to annual appropriations by the Parties so as to not create a multiple fiscal year obligation pursuant to Article X, Section 20 of the Colorado Constitution. In the event of non-appropriation, the non-appropriating Party shall give the other Party written notice of the non- appropriation not later than December 15th of such year and pay any amounts that are due and have not been paid before the end of the then-current fiscal year.
Failure to Appropriate. If the City fails to make an Appropriation to the Authority in accordance with this Agreement in a Fiscal Year, then the City shall make an Appropriation of the amount provided for in accordance with this Agreement in the following fiscal years to reconcile the underpayment.
Failure to Appropriate. The City hereby certified that it has made sufficient appropriation in its Fiscal Year budget (ending June 30th); provided, however, this Agreement shall terminate immediately and absolutely at such time as appropriated and otherwise unobligated funds are no longer available to satisfy the obligations of the City therein.
Failure to Appropriate. The failure of a BVWACS Party to appropriate its proportionate share of the BVWACS Budget by the first day of the Fiscal Year for which the Operating Budget and Capital Costs Budget is applicable shall be a material default of such BVWACS Party under this Agreement, and the BVWACS Parties shall follow the procedures for termination of a BVWACS Party set out in this Agreement addressing the effect of breach and default.
Failure to Appropriate. (a) The obligation of Purchaser to pay the Purchase Installments and all other amounts payable by the Purchaser hereunder is subject to appropriation by the Maryland General Assembly. In the event sufficient funds shall not be appropriated for the payment of the Purchase Installments required to be paid under Exhibit C to continue the acquisition of the Seller’s interest in the Buses or to pay other amounts payable by the Purchaser under this Agreement, Purchaser shall not be obligated to make payment of the Purchase Installments provided for in this Agreement beyond the last date for which an appropriation is available. Purchaser shall deliver written notice to Seller of a Failure to Appropriate no later than ten days after Purchaser has knowledge that an appropriation will not be available. In the event of a Failure to Appropriate, the obligations of Purchaser requiring the expenditure of appropriated funds will cease so long as all payments previously appropriated have been made. The Certificates shall be subject to mandatory redemption upon the occurrence of a Failure to Appropriate and subsequent sale of the Department’s interest in the Buses, as provided in Section 5.02 of the Trust Agreement.
