Common use of Grant Reduction Clause in Contracts

Grant Reduction. In the event the Funders reduce the funding for the Program or the Project, the Parties will enter into good faith negotiations to determine if the Project can be completed as originally anticipated or its scope must be modified. In the event of insufficient funding and the Parties cannot agree to a modified Project and Budget reasonably acceptable to the Funders, MPP may suspend this Agreement immediately. In the event of suspension of the Project, Afrigen will immediately cease incurring expenses and take every reasonable measure to cancel outstanding expenses. In the event Funders discontinue support of the Program or if funding is reduced to the extent that MPP, in in consultation with Afrigen, determines it is not practicable to continue funding this Project, MPP may terminate this Agreement effective immediately upon notice. In such event, to the extent funds are allowable by and available from Funders, MPP shall pay reasonable and allowable costs incurred up to and including the effective date of termination, and for reasonable and allowable non-cancelable obligations made consistent with the Budget prior to Afrigen’s receipt of notice of termination.

Grant Reduction. In the event the Funders reduce the funding for the Program Programme or the Project, the Parties will enter into good faith negotiations to determine if the Project can be completed as originally anticipated or its scope must be modified. In the event of insufficient funding and the Parties cannot agree to a modified Project and Budget reasonably acceptable to the Funders, MPP may suspend this Agreement immediately. In the event of suspension of the Project, Afrigen SAMRC will immediately cease incurring expenses on the MPP grant and take every reasonable measure to cancel outstanding expenses. In the event Funders discontinue support of the Program Programme or if funding is reduced to the extent that MPP, in in consultation with AfrigenSAMRC, determines it is not practicable to continue funding this Project, MPP may terminate this Agreement effective immediately upon notice. In such event, to the extent funds are allowable by and available from Funders, MPP shall pay reasonable and allowable costs incurred up to and including the effective date of termination, and for reasonable and allowable non-cancelable obligations made consistent with the Budget prior to AfrigenSAMRC’s receipt of notice of termination.

Grant Reduction. In the event the Funders reduce the funding for the Program or the Project, the Parties will enter into good faith negotiations to determine if the Project can be completed as originally anticipated or its scope must be modified. In the event of insufficient funding and the Parties cannot agree to a modified Project and Budget reasonably acceptable to the Funders, MPP may suspend this Agreement immediately. In the event of suspension of the Project, Afrigen SAMRC will immediately cease incurring expenses on the MPP grant and take every reasonable measure to cancel outstanding expenses. In the event Funders discontinue support of the Program or if funding is reduced to the extent that MPP, in in consultation with AfrigenSAMRC, determines it is not practicable to continue funding this Project, MPP may terminate this Agreement effective immediately upon notice. In such event, to the extent funds are allowable by and available from Funders, MPP shall pay reasonable and allowable costs incurred up to and including the effective date of termination, and for reasonable and allowable non-cancelable obligations made consistent with the Budget prior to Afrigen▇▇▇▇▇’s receipt of notice of termination.

Grant Reduction. In the event the Funders reduce the funding for the Program or the Project, the Parties will enter into good faith negotiations to determine if the Project can be completed as originally anticipated or its scope must be modified. In the event of insufficient funding and the Parties cannot agree to a modified Project and Budget reasonably acceptable to the Funders, MPP may suspend this Agreement immediately. In the event of suspension of the Project, Afrigen will immediately cease incurring expenses and take every reasonable measure to cancel outstanding expenses. In the event Funders discontinue support of the Program or if funding is reduced to the extent that MPP, in in consultation with Afrigen, determines it is not practicable to continue funding this Project, MPP may terminate this Agreement effective immediately upon notice. In such event, to the extent funds are allowable by and available from Funders, MPP shall pay reasonable and allowable costs incurred up to and including the effective date of termination, and for reasonable and allowable non-cancelable obligations made consistent with the Budget prior to Afrigen’s receipt of notice of termination.