Non-Appropriation; Termination of Financing Lease. If, as a result of the failure of the Local Government to appropriate moneys for such purposes (an "Event of Non- Appropriation"), the Local Government is unable to pay when due the Rental Payments and other payments to be paid under this Agreement, VRA shall have the right to terminate this Agreement upon 30 days' written notice of the exercise of its rights pursuant to this Section, which notice shall specify the effective date for such termination; provided that such termination shall be effective not later than the date through which rent has been paid in accordance with the terms hereof.
Appears in 4 contracts
Samples: Local Lease Acquisition Agreement, Local Lease Acquisition Agreement and Financing Lease, Prime Lease
