Establishment and Term of GRDF Sample Clauses

Establishment and Term of GRDF. (A) Following the satisfaction of conditions precedent contained in the Disbursement Agreement and in accordance with the Final Fund Documents, MCC Funding will be used to organize and establish the GRDF in a legal form and jurisdiction acceptable to MCC. All of the ownership interests in the GRDF are expected to be held initially by a trust (or similar structure acceptable to MCC and MCA-Georgia), the trustee (or similar) of which will be procured through a process acceptable to MCC and will be subject to MCC approval. MCC will be a third party beneficiary to the appropriate Final Fund Documents. (B) The investment period of the GRDF shall run for five years from the Entry into Force, subject to an earlier termination upon termination of the Compact (the “Investment Period”). All MCC obligations shall terminate at the end of the Investment Period. GRDF is expected to exist for ten years, including a five year wind-down period after the termination of the Investment Period. (C) Any distributions to the GRDF will be held for the benefit of beneficiaries to be agreed upon by MCC and MCA- Georgia prior to the end of the Investment Period. Any beneficiary or beneficiaries selected by MCC and MCA- Georgia must be a charitable, educational or other non- profit developmental entity in Georgia that benefits, in substantial part, citizens working in agribusiness and/or other enterprises outside of Tbilisi.
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Related to Establishment and Term of GRDF

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