EARLY TERMINATION FOR FINANCIAL EXIGENCY Clause Samples

EARLY TERMINATION FOR FINANCIAL EXIGENCY. The Customer may terminate this Agreement if public funding of the Customer or funding of the Customer by the Members is materially reduced and the Customer thereby becomes unable to pay future amounts payable pursuant to this Agreement. The Customer will give the Publisher notice of such termination and this Agreement shall terminate effective sixty (60) days after the giving of such notice if the Customer has failed to pay the Fee for the calendar year in which such notice was given, or if the Customer has paid the Fee for the calendar year in which such notice was given, January 1 of the following year.

EARLY TERMINATION FOR FINANCIAL EXIGENCY. The Licensee may terminate this Agreement without penalty if sufficient content acquisitions funds are not allocated to enable the Licensee, in the exercise of its reasonable administrative discretion, to continue this Agreement. In the event of such financial circumstances, ▇▇▇▇▇▇▇▇ agrees to notify Licensor of the intent to terminate the Agreement as soon as is reasonably possible, but in any case, no less than [X days] prior to next payment date. {Liblicense editors suggest that this clause may be most appropriate for multiple year Agreements.}

EARLY TERMINATION FOR FINANCIAL EXIGENCY. The Consortium may terminate this Agreement if public funding of the Consortium or funding of the Consortium by the Members is materially reduced and the Consortium thereby becomes unable to pay future amounts payable pursuant to this Agreement. The Consortium may give the Publisher written notice of such termination and this Agreement shall terminate effective sixty (60) days after the giving of such notice if the Consortium has failed to pay the Fee for the calendar year in which such notice was given, or if the Consortium has paid the Fee for the calendar year in which such notice was given, January 1 of the following year.

EARLY TERMINATION FOR FINANCIAL EXIGENCY. Licensee may terminate this License Agreement if public funding of Licensee or funding of Licensee by the Members is materially reduced and Licensee thereby becomes unable to pay future amounts payable pursuant to this License Agreement. Licensee will give Licensor prior written notice of such termination and this License Agreement shall terminate effective sixty (60) days after the giving of such notice if Licensee has failed to pay the Fee for the calendar year in which such notice was given, or if Licensee has paid the Fee for the calendar year in which such notice was given, January 1 of the following year. The parties agree that the earliest date on which Licensee will try and terminate this License Agreement under this clause shall be in year 2 of its term.