Common use of Reduction in Funding Clause in Contracts

Reduction in Funding. (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient: (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 (Reduction in Funding).

Reduction in Funding. (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient:DW OHDVW %XVLQHVV 'D\V¶ QRWLFH WR WKH (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of SD\ WKH 5HFLSLHQW¶V UHDVRQDEOH VXEVW profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction ³Reduction in Funding Costs”´), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 6 (Reduction in Funding).

Reduction in Funding. ‌ (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient: (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 6 (Reduction in Funding).

Reduction in Funding. (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient: (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 7. (Reduction in Funding).

Reduction in Funding. ‌ (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 twenty (20) Business Days’ notice to the Recipient: (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 6 (Reduction in Funding).

Reduction in Funding. (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient: (i) (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) If the Funding is reduced under this clause the Agency will: (i) agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 6 (Reduction in Funding).

Reduction in Funding. (a) Without limiting other rights under this Agreement, the Agency may reduce the Funding agreed but not yet paid to the Recipient under this Agreement by giving at least 20 Business Days’ notice to the Recipient: (i) : (Loss of Funding) if the Agency does not receive sufficient funds from the NSW Parliament or the Commonwealth Government to provide the Funding for the Activity; or (ii) or (Change of policy) if there is a change in NSW Government policy which affects the Funding Program or the Activity. (b) . If the Funding is reduced under this clause the Agency will: (i) : agree with the Recipient any necessary consequent variation to this Agreement, for example, by way of reduction in scope of the Activity; and (ii) and pay the Recipient’s reasonable, substantiated costs (other than loss of profit or income) necessarily and directly incurred as a result of the reduction in the Funding and any consequent variation to the Agreement (“Reduction in Funding Costs”), provided that: A. : the Recipient uses its best efforts to minimise its Reduction in Funding Costs; and B. and the total amount of Reduction in Funding Costs payable will not exceed the total amount of unpaid Funding forfeited through reduction in the Funding under this clause 7 (Reduction in Funding).