Non-Appropriation Event definition
Non-Appropriation Event means any of the following:
Non-Appropriation Event means, with respect to a Lease, the failure of Lessee’s governing body to appropriate funds to pay Rent Payments under such Lease following the Original Term or then current Renewal Term sufficient for the continued performance of such Lease by Lessee.
Non-Appropriation Event means the failure by the Legislature to timely appropriate sufficient funds for the entire State Investment with respect to a Project, a veto of appropriated funding, or a reduction of such an appropriation required by law. A Non-Appropriation Event is determined on a Project by Project basis, and in no event shall the Non-Appropriation of one Project under an Ancillary Agreement affect the obligation of the State for the State Investment under any other Ancillary Agreements.
Examples of Non-Appropriation Event in a sentence
Notwithstanding anything in any General Terms to the contrary, and in addition to any other termination provision(s) set forth therein, in the event of a Non-Appropriation Event, the applicable Governmental Entity may terminate any General Terms without advance notice and without penalty or liability.
Notwithstanding anything in any Underlying Agreement(s) to the contrary, and in addition to any other termination provision(s) set forth therein, in the event of a Non-Appropriation Event, the applicable Governmental Entity may terminate any Underlying Agreement(s) without advance notice and without penalty or liability.
More Definitions of Non-Appropriation Event
Non-Appropriation Event means any of the following:
a. The legislature or governor fail, in the sole opinion of the applicable Governmental Entity, to appropriate funds sufficient to allow the Governmental Entity to either meet its obligations under any General Terms, or to operate as required or to fulfill its obligations under any General Terms.
b. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by a Governmental Entity (regardless of the source of funding or revenues) to make any payment under any General Terms are insufficient or unavailable for any other reason as determined by the Governmental Entity in its sole discretion;
c. If a Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of any General Terms is withdrawn or materially altered or modified;
d. If the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or
e. If there is a decision of any court, administrative law judge or an arbitration panel or any law, rule, regulation, or order is enacted, promulgated. or issued that materially or adversely affects the applicable Governmental Entity’s ability to fulfill any of its obligations under any General Terms.
Non-Appropriation Event means any of the following:
a. The legislature or governor fail, in the sole opinion of the applicable Governmental Entity, to appropriate funds sufficient to allow the Governmental Entity to either meet its obligations under any Underlying Agreement(s), or to operate as required or to fulfill its obligations under any Underlying Agreement(s).
b. If funds are de-appropriated, reduced, not allocated, or receipt of funds is delayed, or if any funds or revenues needed by a Governmental Entity (regardless of the source of funding or revenues) to make any payment under any Underlying Agreement(s) are insufficient or unavailable for any other reason as determined by the Governmental Entity in its sole discretion;
c. If a Governmental Entity’s authorization to conduct its business or engage in activities or operations related to the subject matter of any Underlying Agreement(s) is withdrawn or materially altered or modified;
d. If the applicable Governmental Entity’s duties, programs, or responsibilities are modified or materially altered; or
e. If there is a decision of any court, administrative law judge or an arbitration panel or any law, rule, regulation, or order is enacted, promulgated. or issued that materially or adversely affects the applicable Governmental Entity’s ability to fulfill any of its obligations under any Underlying Agreement(s).
Non-Appropriation Event means, with respect to a Lease, the failure of ▇▇▇▇▇▇’s governing body to appropriate funds to pay Rent Payments under such Lease following the Original Term or then current Renewal Term sufficient for the continued performance of such Lease by ▇▇▇▇▇▇.
Non-Appropriation Event has the meaning set forth in Paragraph 29 of this PPA.