Dissolution of the Beneficiary Organization Sample Clauses

Dissolution of the Beneficiary Organization. In the event of the dissolution of the Beneficiary Organization, or in the event the Beneficiary Organization ceases to be a 501(c)(3) organization, the Foundation shall maintain the Fund as Fund Advisor; provided, however, the purposes of the Fund shall be modified to provide financial support to one or more such other 501(c)(3) organizations located in Xxxx County, Georgia that serve charitable purposes similar to those of the Beneficiary Organization as the Foundation’s Board of Directors shall determine.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Dissolution of the Beneficiary Organization. In the event of the dissolution of the Beneficiary Organization, or in the event the Beneficiary Organization ceases to be a 501(c)(3) organization, the Foundation shall maintain the Fund as Fund Advisor; provided, however, the purposes of the Fund shall be modified to provide financial support to one or more such other 501(c)(3) organizations located in Cobb County, Georgia that serve charitable purposes similar to those of the Beneficiary Organization as the Foundation’s Board of Directors shall determine. Merger or Change in Structure of the Beneficiary Organization If the Beneficiary Organization merges with another organization, the entity resulting from such a merger shall succeed to the rights, powers and privileges of the Organization under this Agreement, but only if such resulting entity is a 501(c)(3) organization. If the resulting entity is not a 501(c)(3) organization, the Foundation shall proceed as if the Beneficiary Organization was dissolved.
Sample 1

Related to Dissolution of the Beneficiary Organization

  • Dissolution of Entity The Contractor shall notify the County immediately of any intention to discontinue existence of the entity or to bring an action of dissolution.

  • Dissolution The Company shall be dissolved and its affairs shall be wound up on the first to occur of the following:

  • NO DISSOLUTION, NO NULLIFICATION To the extent permitted by law, the parties hereby waive their rights pursuant to Articles 6:265 to 6:272 inclusive of the Dutch Civil Code to dissolve (ontbinden), or demand in legal proceedings the dissolution (ontbinding) of, this Agreement. Furthermore, to the extent permitted by law, the parties hereby waive their rights under Article 6:228 of the Dutch Civil Code to nullify, or demand in legal proceedings the nullification of, this Agreement on the ground of error (dwaling).

  • Winding Up Upon dissolution of the Company, the Company shall continue solely for the purposes of winding up its business and affairs as soon as reasonably practicable. Promptly after the dissolution of the Company, the Manager shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Act. In winding up the business and affairs of the Company, the Manager may, to the fullest extent permitted by law, take any and all actions that it determines in its sole discretion to be in the best interests of the Members, including, but not limited to, any actions relating to (i) causing written notice by registered or certified mail of the Company’s intention to dissolve to be mailed to each known creditor of and claimant against the Company, (ii) the payment, settlement or compromise of existing claims against the Company, (iii) the making of reasonable provisions for payment of contingent claims against the Company and (iv) the sale or disposition of the properties and assets of the Company. It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of claims against the Company so as to enable the Manager to minimize the losses that may result from a liquidation.

  • Disqualification of Former Employees GRANTEE is familiar with the provisions relating to the disqualification of former officers and employees of CITY in matters which are connected with former duties or official responsibilities as set forth in Chapter 12.10 of the San Xxxx Municipal Code (“Revolving Door Ordinance”). GRANTEE shall not utilize either directly or indirectly any officer, employee, or agent of GRANTEE to perform services under this AGREEMENT, if in the performance of such services, the officer, employee, or agent would be in violation of the Revolving Door Ordinance.

Time is Money Join Law Insider Premium to draft better contracts faster.