Common use of Control of the Fund Clause in Contracts

Control of the Fund. The Fund shall be the property of the Foundation, held by it as a component fund of the Foundation, and shall not be deemed a trust fund held by it in a trustee capacity. The Foundation shall have the ultimate authority and control over all property in the Fund, and the income derived therefrom, in accordance with the Restated Certificate of Formation dated March 24, 2015 and Section 4.3 of the Bylaws dated June 15, 2015 (collectively the “Governing Instruments”), and all amendments and policies adopted by the Board of Governors of the Foundation under the authority of the Governing Instruments.

Control of the Fund. The Fund shall be the property of the Foundation, held by it as a component fund of the Foundation, and shall not be deemed a trust fund held by it in a trustee capacity. The Foundation shall have the ultimate authority and control over all property in the Fund, and the income derived therefrom, in accordance with the Foundation’s Restated Certificate of Formation dated March 24, 2015 and Section 4.3 of the Bylaws of the Foundation dated June 15, 2015 (collectively the “Governing Instruments”), and all amendments and policies adopted by the Board of Governors of the Foundation under the authority of the Governing Instruments. The Foundation agrees that the Fund will be used consistent with this Agreement and the Fund’s purpose as set forth in Section 2, subject to the Foundation’s Variance Power, as described in Section 5.

Control of the Fund. The Fund shall be the property of the Foundation, held by it as a component fund of the Foundation, and shall not be deemed a trust fund held by it in a trustee capacity. The Foundation shall have the ultimate authority and control over all property in the Fund, and the income derived therefrom, in accordance with the Restated Certificate of Formation dated March 24, 2015 and Section 4.3 of the Bylaws dated June 15, 2015 (collectively the “Governing Instruments”), and all amendments and policies adopted by the Board of Governors of the Foundation under the authority of the Governing Instruments.