Common use of Continuity Clause in Contracts

Continuity. 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 assets in the Fund become, in the good faith opinion of the Foundation’s Board, uneconomical to administer, has not reached the minimum principal balance defined herein, or remains below the minimum principal balance for three consecutive (3) years with no additional contributions, or if the Fund is otherwise terminated; the Foundation shall transfer all remaining fund assets to the Foundation’s Longleaf General Endowment Fund exclusively for charitable or other exempt purposes that: (a) are within the scope of the of the Foundation's Organizational Documents and Bylaws as from time to time amended; and (b) most nearly approximate, in the good faith opinion of the Board, the original charitable purpose(s) and donor intent of the Fund.

Continuity. 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 assets in the Fund become, in the good faith opinion of the Foundation’s Board, uneconomical to administer, has not reached the minimum principal balance defined herein, or remains below the minimum principal balance for three consecutive (3) years with no additional contributions, or if the Fund is otherwise terminated; the Foundation shall transfer all remaining fund assets to the Foundation’s Longleaf General Endowment Fund exclusively for charitable or other exempt purposes that: (a) are within the scope of the of the Foundation's Organizational Documents and Bylaws as from time to time amended; and (b) most nearly approximate, in the good faith opinion of the Board, the original charitable purpose(s) and donor Beneficiary Charity intent of the Fund.

Continuity. 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 assets in the Fund become, in the good faith opinion of the Foundation’s 's Board, uneconomical to administer, has not reached the minimum principal balance defined herein, or remains below the minimum principal balance of $10,000.00 for three consecutive (3) years with no additional contributions, or if the Fund is otherwise terminated; the Foundation shall transfer all remaining fund assets to the Foundation’s 's Longleaf General Endowment Fund exclusively for charitable or other exempt purposes that: (a) are within the scope of the of the Foundation's Organizational Documents and Bylaws as from time to time amended; and (b) most nearly approximate, in the good faith opinion of the Board, the original charitable purpose(s) and donor intent of the Fund.

Continuity. 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 assets in the Fund become, in the good faith opinion of the Foundation’s Board, uneconomical to administer, has not reached the minimum principal balance defined herein, or remains below the minimum principal balance of $10,000 for three consecutive (3) years with no additional contributions, or if the Fund is otherwise terminated; the Foundation shall transfer all remaining fund assets to the Foundation’s Longleaf General Legacy Endowment Fund exclusively for charitable or other exempt purposes that: (a) are within the scope of the of the Foundation's ’s Organizational Documents and Bylaws as from time to time amended; and (b) most nearly approximate, in the good faith opinion of the Board, the original charitable purpose(s) and donor intent of the Fund.