Common use of For Nonprofit Organizations Clause in Contracts

For Nonprofit Organizations. (i) The Recipient has neither actual nor constructive knowledge of any events or pending matters that may adversely affect its status as a nonprofit or not-for- profit entity under the laws of the Recipient’s state of formation. (ii) The Recipient has neither actual nor constructive knowledge that may adversely affect its Federal income taxation pursuant to the Internal Revenue Code of 1986. (iii) The Recipient has neither actual nor constructive knowledge of any events or pending matters that may adversely affect that one of its principal purposes is the development or management of affordable housing.