(a) The Executive Director may terminate a grant prior to the expiration of the contract between the Institute and the grant recipient on the grounds that:
- (1) The recipient has failed to meet contractual obligations; or
- (2) Funds allocated to the grant are reduced, depleted, or unavailable during the award period, and CPRIT is unable to obtain additional funds for such purposes.
- (b) The Executive Director shall notify the grant recipient in writing of the intent to terminate funding at least 30 days before the intended termination date.
- (c) The notice shall state the reasons for termination, the procedure, and the time period for seeking reconsideration of the decision to terminate.
- (d) Nothing in this section prohibits termination of the grant by mutual agreement of the parties prior to expiration of the contract. Mutual agreement is not required for termination as provided by subsection (a) of this section.
Source Note:The provisions of this §703.14 adopted to be effective December 21, 2009, 34 TexReg 9213.