Disbursement Timing Sample Clauses

Disbursement Timing. Bright Funds Foundation, in its sole discretion, determines whether and when to make disbursements to a Recommended Charitable Organization. For clarity, while a Recommended Charitable Organization may see undisbursed Donations or grants listed in the Bright Funds SaaS, Bright Funds Foundation retains exclusive legal control and discretion over the donated or granted funds. Recommended Charitable Organizations have no ownership of, claim to, right to, or entitlement to the donated or granted funds held by Bright Funds Foundation. Bright Funds Foundation typically disburses funds to a Recommended Charitable Organization during the calendar month following the month in which it received the Donation or grant (e.g., if Bright Funds Foundation received a Donation or grant in January, it would typically disburse such funds, less fees, to the Recommended Charitable Organization in February). However, exceptions to the regular disbursement schedule may apply, including but not limited to situations where minimum Donation or disbursement thresholds or maximum limits apply, where a Recommended Charitable Organization requires different timing for disbursement, or where disbursements have been suspended or terminated pursuant to this Bright Funds TOS.