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

Termination Due to Lack of Funding. 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. The maximum extent of each Town's financial liability in connection with this Agreement shall not exceed the amount validly appropriated by, or available to, each said Town for said purposes. Notwithstanding any other provision in this Agreement, both Parties shall have the right, exercised in each Party’s discretion, to terminate this Agreement 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 appropriation makes it impossible for the terminating Party to perform its obligations under the Agreement. The termination notice shall include documentation of the funding insufficiency.

Termination Due to Lack of Funding. 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 state, and local monies. The maximum extent of each Town's financial liability in connection with this Agreement shall not exceed the amount validly appropriated by, or available to, each said Town for said purposes. Notwithstanding any other provision in this Agreement, both Parties shall have the right, exercised in each Party’s discretion, to terminate this 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 appropriation makes it impossible for the terminating Party to perform its obligations under the Agreement. The termination notice shall include documentation of the funding insufficiency.