CONTINUITY OF THE FUND Sample Clauses

CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated, the Community Foundation shall use any remaining assets in the Fund exclusively for charitable or other exempt purposes that: a. are within the scope of the charitable and other exempt purposes of the Community Foundation; and b. most nearly approximate, in the good faith opinion of the Board, the original purpose of the Fund.
Sample 1Sample 2Sample 3See All (47)
AutoNDA by SimpleDocs
CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated, the Legacy Foundation shall use any remaining assets in the Fund exclusively for educational, charitable, or other exempt purposes that: a. are within the scope of the educational, charitable, and other exempt purposes of the Legacy Foundation; and b. most nearly approximate, in the good faith opinion of the Board, the original purpose of the Fund.
Sample 1Sample 2Sample 3See All (19)
CONTINUITY OF THE FUND. If the Foundation dissolves, or ceases to hold or administer the Fund or otherwise to function under this agreement, the assets of the Fund, after payment or making provision for payment of any liabilities properly chargeable to the Fund, shall be distributed to such charitable organizations as the Foundation’s Board of Directors may select, with primary consideration given to the stated purpose of the Fund.
Sample 1Sample 2Sample 3
CONTINUITY OF THE FUND. The Fund shall continue as long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated, the Community Foundation shall disburse any remaining assets in the Fund to the City exclusively for deposit in the City of Urbana’s Public Art Program fund. In the event that the corporate authorities terminate the Public Art Program, any such disbursement made upon closing out the Fund shall be made to the City of Urbana fund for maintenance of permanent public art projects and/or sculptures, in the absence thereof, to the City of Urbana for general marketing efforts. The Community Foundation agrees to administer the Fund as follows:
Sample 1Sample 2Sample 3
CONTINUITY OF THE FUND. The Fund shall continue so long as the purposes of the Fund can be served by its continuation. If the operations of the undergraduate Zeta shall be suspended for any reason, the Foundation will hold the assets of the Fund for educational purposes pending re-establishment of undergraduate Zeta operations, and/or pending further direction of the Donor. Notwithstanding the foregoing, if undergraduate Zeta operations shall not have been re-established by the date which is five (5) years after the suspension of undergraduate Zeta operations, the Fund shall terminate automatically. If the Fund is terminated, the Foundation may use any remaining assets in the Fund for charitable or other exempt purposes that are within the scope of the purposes of the Foundation and most nearly approximate, in the good faith opinion of the Board, the original purpose of the Fund.
Sample 1Sample 2
CONTINUITY OF THE FUND. If any of the events referred to in Section 2(i), (ii), (iii), (iv), (v) or Section 5 (iii) above occur, TSDF and Agency shall elect a new nonprofit habitat management organization approved by Agency and the TSDF Board of Governors. The Fund shall continue so long as assets are available in the Fund and the purposes in the Fund can be served by its continuation. If the Fund is terminated for any of the above reasons, TSDF shall devote any remaining assets in the Fund exclusively for charitable purposes that: a. are within the scope of the charitable purposes of TSDF’s Articles of Incorporation; and, b. most nearly approximate, in the good faith opinion of the Board of Governors, of the original purpose of the Fund.
Sample 1Sample 2
CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes in the Fund can be served by its continuation. If the Fund is terminated for either of the above reasons, TSDF shall devote any remaining assets in the Fund exclusively for charitable purposes that: a. are within the scope of the charitable purposes of TSDF’s Articles of incorporation; and, b. most nearly approximate, in the good faith opinion of the Board of Governors, the original purpose of the Fund.
Sample 1
AutoNDA by SimpleDocs
CONTINUITY OF THE FUND. Upon the date of death of the survivor of the Fund Representative and the Donor (the “Determining Date”), the Fund shall become a named unrestricted fund; provided, however, that if at any time after the Determining Date the value of the Fund is less than $10,000.00, then the Fund shall cease to be a named fund and shall become a part of the unrestricted endowment funds of the Foundation.
Sample 1
CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes in the Fund can be served by its continuation. If the Fund is terminated for either of the above reasons, TSDF shall devote any remaining assets in the Fund exclusively for charitable purposes that: a. are within the scope of the charitable purposes of TSDF’s Articles of incorporation; and, b. most nearly approximate, in the good faith opinion of the Board of Governors, the original purpose of the Fund.
Sample 1

Related to CONTINUITY OF THE FUND

  • Continuity of Services A. The Contractor recognizes that the service(s) to be performed under this Contract are vital to the State and must be continued without interruption and that, upon Contract expiration, a successor, either the State or another contractor, may continue them. The Contractor agrees to: Furnish phase-in training; and Exercise its best efforts and cooperation to effect an orderly and efficient transition to a successor. B. The Contractor shall, upon the State's written notice: Furnish phase-in, phase-out services for up to sixty (60) days after this Contract expires; and Negotiate in good faith a plan with a successor to determine the nature and extent of phase-in, phase-out services required. The plan shall specify a training program and a date for transferring responsibilities for each division of work described in the plan, and shall be subject to the State's approval. The Contractor shall provide sufficient experienced personnel during the phase-in, phase-out period to ensure that the services called for by this Contract are maintained at the required level of proficiency. C. The Contractor shall allow as many personnel as practicable to remain on the job to help the successor maintain the continuity and consistency of the services required by this Contract. The Contractor also shall disclose necessary personnel records and allow the successor to conduct on-site interviews with these employees. If selected employees are agreeable to the change, the Contractor shall release them at a mutually agreeable date and negotiate transfer of their earned fringe benefits to the successor. D. The Contractor shall be reimbursed for all reasonable phase-in, phase-out costs (i.e., costs incurred within the agreed period after contract expiration that result from phase-in, phase-out operations).

  • Continuity Except as expressly modified hereby, the terms and provisions of the Agreement and all instruments, agreements or other documents executed and delivered in connection therewith shall continue in full force and effect. Whenever the “Agreement” is referenced in the Agreement or any of the instruments, agreements or other documents executed and delivered in connection therewith, such references shall be deemed to mean the Agreement as modified hereby.

  • Continuity of Operations Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower’s stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a “Subchapter S Corporation” (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower’s stock, or purchase or retire any of Borrower’s outstanding shares or alter or amend Borrower’s capital structure.

  • Business Continuity and Disaster Recovery Bank shall maintain and update from time to time business continuation and disaster recovery procedures with respect to its global custody business, which are designed, in the event of a significant business disruption affecting Bank, to be sufficient to enable Bank to resume and continue to perform its duties and obligations under this Agreement without undue delay or disruption. Bank shall test the operability of such procedures at least annually. Bank shall enter into and shall maintain in effect at all times during the term of this Agreement reasonable provision for (i) periodic back-up of the computer files and data with respect to Customer and (ii) use of alternative electronic data processing equipment to provide services under this Agreement. Upon reasonable request, Bank shall discuss with Customer any business continuation and disaster recovery procedures of Bank. Bank represents that its business continuation and disaster recovery procedures are appropriate for its business as a global custodian to investment companies registered under the 1940 Act.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!