Common use of Donor Advised Fund Clause in Contracts

Donor Advised Fund. a) The Donor may advise the Foundation in writing from time to time on the distribution of the Fund. In addition, the Donor may designate in writing one or more persons to advise the Foundation in the event of withdrawal, incapacity, or death of the Donor for a period not to exceed twenty years after the death of the Donor. b) If more than one person shall have the right to advise the Foundation at any time, and the Donor shall not have designated a spokesperson as the advisor, those who have a right to advise shall unanimously notify the Foundation in writing of the spokesperson who shall communicate with the Foundation on their behalf. The Foundation may rely upon such notification until changed by written notice executed by all such persons, and shall not be obliged to consider advice without the designation of an advisor. c) In the event that no one advises the Foundation on the distribution of the Fund for three consecutive years, the Foundation may deem that no one has an interest in advising with respect to the Fund and administer the Fund without considering the advice of any third party thirty days after written notice to the last known address of the last designated spokesperson.

Donor Advised Fund. (a) The Donor Donors or successor advisors as indicated on Addendum (A) may advise the Foundation in writing from time to time on the distribution of the Fund. In addition, the Donor Donors may designate in writing one or more persons to advise the Foundation in the event of the withdrawal, incapacity, incapacity or death of the Donor for a period not to exceed twenty years after the death of the DonorDonors. (b) If more than one person shall have the right to advise the Foundation at any time, and the Donor Donors shall not have designated a spokesperson Spokesperson as the advisorAdvisor, those who have a right to advise shall unanimously notify the Foundation in writing of the spokesperson Spokesperson who shall communicate with the Foundation on their behalf. The Foundation may rely upon such notification until changed by written notice executed by all such persons, and shall not be obliged obligated to consider advice without the designation of an advisorAdvisor. (c) In the event that no one advises the Foundation on the distribution of the Fund for three consecutive years, the Foundation may deem that no one has an interest in advising with respect to the Fund Fund, and administer the Fund without considering the advice of any third party thirty days may terminate such rights after written notice to the last known address of the last Donors or designated spokespersonSpokesperson.

Donor Advised Fund. (a) The Donor Donor(s) or successor advisors as indicated on Addendum (A) may advise the Foundation in writing from time to time on the distribution of the Fund. In addition, the Donor may designate in writing one or more persons to advise the Foundation in the event of the withdrawal, incapacity, incapacity or death of the Donor for a period not to exceed twenty years after the death of the Donor. (b) If more than one person shall have the right to advise the Foundation at any time, and the Donor shall not have designated a spokesperson Spokesperson as the advisor, those who have a right to advise shall unanimously notify the Foundation in writing of the spokesperson Spokesperson who shall communicate with the Foundation on their behalf. The Foundation may rely upon such notification until changed by written notice executed by all a majority of such persons, and shall not be obliged obligated to consider advice without the designation of an advisora Spokesperson. (c) In the event that no one advises the Foundation on the distribution of the Fund for three consecutive years, the Foundation may deem that no one has an interest in advising with respect to the Fund Fund, and administer the Fund without considering the advice of any third party thirty days may terminate such rights after written notice to the last known address of the last designated spokesperson.