Common use of Termination Due To Lack of Funds Clause in Contracts

Termination Due To Lack of Funds. In the event funds to finance this contract become unavailable, the Coalition may terminate the contract upon no less than 24 hour notice in writing to the Sub-recipient. Said notice shall be delivered by certified mail, return receipt requested, or in person with proof of delivery. The Coalition shall be the final authority as to the availability of funds. In the event of termination of this contract, the Sub- recipient will be compensated for any work satisfactorily completed prior to notification of termination. Any expenses initiated after the termination notice has been issued and received by the Sub-recipient shall not be reimbursed by the Coalition.

Termination Due To Lack of Funds. In the event funds to finance this contract become unavailable, the Coalition may terminate the contract upon no less than 24 hour notice in writing to the Sub-recipient. Said notice shall be delivered by certified mail, return receipt requested, or in person with proof of delivery. The Coalition shall be the final authority as to the availability of funds. In the event of termination of this contract, the Sub- Sub-recipient will be compensated for any work satisfactorily completed prior to notification of termination. Any expenses initiated after the termination notice has been issued and received by the Sub-recipient shall not be reimbursed by the Coalition.