Dissolution of the Foundation. In the event the Foundation ceases to be a qualified charitable organization (as described in Internal Revenue Code Sections 509(a)(1), (2), (3), or (4) and which is other than a private foundation under Section 509(a)), or proposes to dissolve, the Foundation will distribute the assets of the Fund to one or more organizations eligible to receive funds under the Articles and Bylaws of the Foundation to be administered by such organization(s) in a manner that will, as much as is practical, achieve the original purposes of the Fund.
Dissolution of the Foundation. In the event of the dissolution of the Foundation, or in the event the Foundation ceases to be a 501(c)(3) organization, the Assets remaining in the Fund, after payment or making provision for payment of any fees, expenses or other liabilities properly chargeable to the Fund, shall be distributed to 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. 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.
Dissolution of the Foundation. If the Foundation ceases to be exempt from taxation under Code section 501(c)(3) or if the Foundation proposes to dissolve, then the assets of the Fund shall, after payment or making provision for payment of any liabilities properly chargeable to the Fund, be distributed to the community project. If the community project is then (i) not exempt from taxation under Code section 501(c)(3) or (ii) a private foundation under Code section 509, then such assets shall be distributed in such a manner and to such organization or organizations in the Battle Creek community as are (i) exempt from taxation under Code section 501(c)(3) and (ii) not a private foundation under Code section 509 (a "Qualified Charitable Organization") and serve purposes, all in the discretion of the Foundation.
Dissolution of the Foundation. 19.1. The Foundation shall endure indefinitely but may be wound up and dissolved at any time provided a two-thirds majority is obtained for such winding up and dissolution at a General Meeting of the Donor. If, after the winding up or dissolution of the Foundation and after payment of all liabilities and debts, there remains any monies or properties or assets of whatsoever kind, such monies, properties and assets shall be given or transferred at or before the dissolution to a similar Public Benefit Organisation approved in terms of the Act.
Dissolution of the Foundation. 23.1 The Foundation may be dissolved by unanimous resolution of the Board, at a general meeting of the Board convened for the purpose of considering such dissolution, subject to consultation with and approval of the Council of UKZN. Not less than 21 days' notice shall be given of such meeting and the notice shall clearly state that the dissolution of the Foundation and the disposal of its assets will be considered. If there is no quorum at such meeting, the meeting shall stand adjourned for not less than one week and the members attending such adjourned meeting shall constitute a quorum. If upon dissolution of the Foundation there remain any assets after the satisfaction of all its debts and liabilities, such assets shall not be paid to or distributed among the trustees or any members of the governing body, but shall be given to the University of KwaZulu-Natal.
Dissolution of the Foundation. If the Foundation ceases to be a qualified charitable organization or if the Foundation dissolves, the assets of the Fund shall, after payment or making provision for payment of any liabilities properly chargeable to the Fund, be distributed to organization. If this organization is unwilling or unable to accept such assets, or is no longer an organization described in Section 501(c)(3) of the Internal Revenue Code, all remaining assets in the Fund shall be distributed in such manner and to such organization or organizations in the New Canaan community as satisfies the requirements of a qualified charitable organization and serves the stated interest areas of X, X, and X.
Dissolution of the Foundation. If the Foundation ceases to be exempt from taxation under Code section 501(c)(3) or if the Foundation proposes to dissolve, the assets of the Fund shall, after payment or making provision for payment of any liabilities, properly chargeable to the Fund, be distributed to the [abbreviated name of organization]. If the [abbreviated name of organization] is not then a qualified charitable organization, said assets shall be distributed in such manner and to such organization or organizations in Branch County as satisfies the requirements of a qualified charitable organization and serves purposes similar to those of the [abbreviated name of organization].
Dissolution of the Foundation. In the event of the dissolution of the Foundation, all of the remaining assets of the Foundation after payment of its liabilities will be distributed to TO Live in accordance with the Foundation's Letters Patent. TO Live will accept such assets on the same trusts, terms and conditions and for the same purposes under which they are held by the Foundation.
Dissolution of the Foundation. If the Foundation
Dissolution of the Foundation. In the event of the dissolution of the Foundation, or in the event the Foundation ceases to be a 501(c)(3) organization, the Assets remaining in the Fund, after payment or making provision for payment of any fees, expenses or other liabilities properly chargeable to the Fund, shall be distributed to the Beneficiary Organization.
