Common use of Termination Protocol Clause in Contracts

Termination Protocol. Either organization can terminate this agreement by providing 90 days written notice to the other Board. a. Should the agreement be terminated by the Endowment, the Endowment shall provide funding for two subsequent calendar years to the AOG that equals the average level of funding for the previous two calendar years to the AOG, less the funding which would be available from the Long Blue Line Endowment(s) in accordance with Endowment disbursement policy. b. Should the agreement be terminated by the AOG, the Endowment shall provide funding for one subsequent calendar year to the AOG that equals the average level of funding for the previous two calendar years to the AOG, less the funding which would be available from the Long Blue Line Endowment(s) in accordance with Endowment disbursement policy. c. If required, a new MOU and Annual Operating Contract should be negotiated between the organizations. (In the unlikely event that either or both organizations want to terminate this Agreement, a process is laid out.)

Termination Protocol. Either organization can terminate this agreement by providing 90 days written notice to the other Board. a. Should the agreement be terminated by the Endowment, the Endowment shall provide funding for two subsequent calendar years to the AOG that equals the average level of funding for the previous two calendar years to the AOG, less the funding which would be available from the Long Blue Line Endowment(s) in accordance with Endowment disbursement policy. b. Should the agreement be terminated by the AOG, the Endowment shall provide funding for one subsequent calendar year to the AOG that equals the average level of funding for the previous two calendar years to the AOG, less the funding which would be available from the Long Blue Line Endowment(s) in accordance with Endowment disbursement policy. c. In the event of termination of this agreement, the AOG will revert to the Bylaws approved by the membership dated May 2011. d. If required, a new MOU and Annual Operating Support Contract should be negotiated between the organizations. (In the unlikely event that either or both organizations want to terminate this Agreement, a process is laid out.)