Common use of Funding Out Clause in Contracts

Funding Out. Each payment obligation of DCPS created by this Agreement is conditioned upon the availability of funds that are appropriated or allocated for the payment of services or products. If such funds are not allocated and available, this Agreement may be terminated by DCPS at the end of the period for which funds are available. DCPS shall notify the Contractor at the earliest possible time before such termination. No penalty shall accrue to DCPS in the event this provision is exercised, and DCPS shall not be obligated or liable for any future payments due or for any damages as a result of termination under this section.

Appears in 4 contracts

Samples: Agreement for Contracted Services, Agreement for Contracted Services, Agreement for Contracted Services

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