Grounds for Reduction of Compensation or Termination of the Contract Sample Clauses

The "Grounds for Reduction of Compensation or Termination of the Contract" clause defines the specific circumstances under which a party may reduce payment obligations or end the contract altogether. Typically, this clause outlines events such as material breach, failure to perform, or other significant issues that justify adjusting compensation or terminating the agreement. By clearly stating these grounds, the clause helps manage expectations, provides a structured process for addressing serious problems, and protects parties from ongoing obligations when the contract is not being properly fulfilled.
Grounds for Reduction of Compensation or Termination of the Contract. The Grantee Staff reserves the right to terminate this Contract or to commensurately reduce the Contract compensation amount, in an amount as determined by the United States Department of Housing and Urban Development, upon written notification to the Subgrantee that any one or more of the following has occurred: (1) Failure of the Subgrantee to file quarterly reports by the 30th day following the end of each quarter; (2) Failure of the Subgrantee to expend fifty percent of the funding by November 16, 2020; (3) Failure of the Subgrantee to meet any standards specified in this Contract; (4) Failure to comply with written notice from Grantee Staff of substandard performance in scope of services under the terms of this Contract; (5) Failure of the Subgrantee to comply with State and Federal Accounting Laws; (6) Subgrantee employees, officers or its designees or agents using their positions for a purpose that is, or gives the appearance of being, motivated by a desire for private gain for themselves or others, particularly those with whom they have family, business or other ties; (7) Where applicable, notification by HUD to the Grantee Staff that said programs are ineligible because of services provided, location of services provided, or that the programs funded with the Community Development Block Grant Funds are not deemed to be related to the Consolidated Plan; (8) Where applicable, notification by HUD to the Grantee Staff that said programs funded by the Community Development Block Grant Funds are deficient and that continued support of the programs would not provide an adequate level of services to low income and minority people; (9) Where applicable, written notification from HUD to the Grantee Staff that the program funds made available to the Subgrantee are being curtailed, withdrawn, or otherwise restricted.
View SourceView Similar (3)
Grounds for Reduction of Compensation or Termination of the Contract. The County Staff reserves the right to terminate this Contract or to reduce the Contract compensation amount upon written notification to the Grantee that any one or more of the following has occurred: 1) Failure of the Grantee to file monthly/quarterly/annual (whichever is required) reports by the 7th day of each month, or the 15th day after the end of the quarter or year (whichever is appropriate); 2) Failure of the Grantee to meet any standards specified in this Contract; 3) Expenditures under this Contract for ineligible activities, services, or items; 4) Failure to comply with written notice from County Staff of substandard performance in scope of services under the terms of this Contract; 5) Failure of the Grantee to keep accounts and records showing the disposition of the money provided pursuant to this contract; 6) Grantee employees, officers or its designees or agents using their positions for a purpose that is, or gives the appearance of being, motivated by a desire for private gain for themselves or others, particularly those with whom they have family, business or other ties; 7) Failure of the County or the Grantee to secure or obtain other funding from sources which are needed in combination with the grant funds provided by the County to completely carry out the programs provided in this Contract; 8) If Grantee receives funds from other sources prior to or during the program year to cover costs under this Contract, the County Staff reserves the right to reduce the Contract amount; 9) Failure of the Grantee to pay debts owed to the County or other debts when due; or 10) Failure of the County to appropriate or budget money for the purposes specified in this contract.
View SourceView Similar (2)
Grounds for Reduction of Compensation or Termination of the Contract. The Grantee Staff reserves the right to terminate this Contract or to commensurately reduce the Contract compensation amount, in an amount as determined by the United States Department of Housing and Urban Development, upon written notification to the Subgrantee that any one or more of the following has occurred: (1) Failure of the Subgrantee to file quarterly reports by the 30th day following the end of each quarter; (2) Failure of the Subgrantee to expend fifty percent of the funding by November 16, 2020; (3) Failure of the Subgrantee to meet any standards specified in this Contract; (4) Failure to comply with written notice from Grantee Staff of substandard performance in scope of services under the terms of this Contract; (5) Failure of the Subgrantee to comply with State and Federal Accounting Laws; (6) Subgrantee employees, officers or its designees or agents using their positions for a purpose that is, or gives the appearance of being, motivated by a desire for private gain for themselves or others, particularly those with whom they have family, business or other ties; (7) Where applicable, notification by HUD to the Grantee Staff that said programs are ineligible because of services provided, location of services provided, or that the programs funded with the Community Development Block Grant Funds are not deemed to be related to the Consolidated Plan; (8) Where applicable, notification by HUD to the Grantee Staff that said programs funded by the Community Development Block Grant Funds are deficient and that continued support of the programs would not provide an adequate level of services to low income and minority people; (9) Where applicable, written notification from HUD to the Grantee Staff that the program funds made available to the Subgrantee are being curtailed, withdrawn, or otherwise restricted.
View Source

Related to Grounds for Reduction of Compensation or Termination of the Contract

  • DETERMINATION OF BREACH AND TERMINATION OF AGREEMENT A. Prior to making a determination that the Applicant has failed to comply in any material respect with the terms of this Agreement or to meet any material obligation under this Agreement, the District shall provide the Applicant with a written notice of the facts which it believes have caused the breach of this Agreement, and if cure is possible, the cure proposed by the District. After receipt of the notice, the Applicant shall be given ninety (90) days to present any facts or arguments to the Board of Trustees showing that it is not in breach of its obligations under this Agreement, or that it has cured or undertaken to cure any such breach. B. If the Board of Trustees is not satisfied with such response or that such breach has been cured, then the Board of Trustees shall, after reasonable notice to the Applicant, conduct a hearing called and held for the purpose of determining whether such breach has occurred and, if so, whether such breach has been cured. At any such hearing, the Applicant shall have the opportunity, together with their counsel, to be heard before the Board of Trustees. At the hearing, the Board of Trustees shall make findings as to: i. whether or not a breach of this Agreement has occurred; ii. whether or not such breach is a Material Breach; iii. the date such breach occurred, if any;

  • Reduction or Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Revolving Commitment Termination Date. The Borrower shall have the right, upon not less than two Business Days’ written notice to the Administrative Agent, to terminate the Commitments or, from time to time, reduce the amount of the Commitments; provided, however, that the Borrower shall not terminate or reduce any Commitment if, after giving effect to any concurrent repayment of the Loans in accordance with Section 2.07 and Section 2.08, the total Credit Exposure of the Lenders would exceed the sum of total Commitments. Any reduction shall be accompanied by prepayment of the Loans to the extent, if any, that the total Credit Exposure of the Lenders then outstanding exceeds the sum of the total Commitments as then reduced. Any termination of the Commitments shall be accompanied by prepayment in full of the Loans then outstanding and the payment of any unpaid fees then accrued hereunder. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender thereof. Any partial reduction shall be in an amount of $5,000,000 or a whole multiple thereof and shall reduce permanently the total amount of the Commitments, together with a corresponding reduction in the aggregate amount of each Lender’s applicable Commitment. The Commitments, once terminated or reduced, may not be reinstated. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their Commitments (except for in connection with the termination of this Agreement as to any Lender pursuant to Section 10.15).

  • Optional Termination or Reduction of the Commitments The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce in part the unused Commitments of the Lenders, provided that each partial reduction shall be in the amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof.

  • Modification or Termination The Loan Documents may only be modified or terminated by a written instrument or instruments intended for that purpose and executed by the party against which enforcement of the modification or termination is asserted. Any alleged modification or termination which is not so documented shall not be effective as to any party.

  • Resignation or Termination of Agent The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. BANA, as Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place of BANA without any further notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.