Common use of Termination Due to Lack of Funding Clause in Contracts

Termination Due to Lack of Funding. ▇▇▇▇▇▇ and ▇▇▇▇▇▇ acknowledge that both Parties are political subdivisions of the Commonwealth of Massachusetts established pursuant to law and that they are funded in large part through Federal, state and local monies. Notwithstanding any other provision in this Lease, both Parties shall have the right, exercised in each Party’s discretion, to terminate this Lease on less than one year’s notice, but not less than forty-five (45) days’ notice, by written notice to the other in the event a lack of governmental funding makes it impossible for the terminating Party to perform its Lease obligations for a full year prior to termination. The termination notice shall include documentation of the funding insufficiency.

Termination Due to Lack of Funding. ▇▇▇▇▇▇ LESSOR and ▇▇▇▇▇▇ LESSEE acknowledge that both Parties are political subdivisions of the Commonwealth of Massachusetts established pursuant to law and that they are funded in large part through Federal, state and local monies. Notwithstanding any other provision in this Lease, both Parties shall have the right, exercised in each Party’s discretion, to terminate this Lease on less than one year’s notice, but not less than forty-five (45) days’ notice, by written notice to the other in the event a lack of governmental funding makes it impossible for the terminating Party to perform its Lease obligations for a full year prior to termination. The termination notice shall include documentation of the funding insufficiency.

Termination Due to Lack of Funding. ▇▇▇▇▇▇ and ▇▇▇▇▇▇ acknowledge Each Party acknowledges that both Parties are political subdivisions of the Commonwealth of Massachusetts established pursuant to law and that they are funded in large part through Federal, state and local monies. Notwithstanding any other provision in this LeaseAgreement, both Parties shall have the right, exercised in each Party’s discretion, to terminate this Lease Agreement on less than one year’s notice, but not less than forty-forty- five (45) days’ notice, by written notice to the other in the event a lack of governmental funding makes it impossible for the terminating Party to perform its Lease obligations under the Agreement for a full year prior to termination. The termination notice shall include documentation of the funding insufficiency.