Common use of Financial Stringency Clause in Contracts

Financial Stringency. The Employer is aware of the concerns of members of Local as to the adverse effects which inadequate funding of the Institution might have on employees. In addition to confirming in writing verbal assurances already given that the Employer shares these concerns, this letter is written to assure Local 2424:

Financial Stringency. The Employer is aware of the concerns of members of Local as to the adverse effects which inadequate funding of the Institution might have on employees. In addition to confirming in writing verbal assurances already given that the Employer shares these concerns, this letter is written to assure Local 2424:: that the Employer, before making a declaration of financial stringency, will provide an opportunity for Local to present its point of view to the body making the declaration; and

Financial Stringency. The Employer is aware of the concerns of members of Local as to the adverse effects which inadequate funding of the Institution might have on employees. In addition to confirming in writing verbal assurances already given that the Employer shares these concerns, this letter is written to assure Local 2424: