Foundation Assets Clause Samples
The Foundation Assets clause defines the specific assets that are owned, managed, or controlled by a foundation entity. This typically includes tangible and intangible property such as cash, investments, intellectual property, or other resources contributed to or acquired by the foundation. By clearly identifying what constitutes foundation assets, this clause ensures transparency and proper management of the foundation’s resources, helping to prevent disputes over ownership and use of assets.
Foundation Assets. (1) The Foundation assets comprise the original Foundation assets donated by the founders and the pension fund assets of the individual pension funds.
(2) The Foundation assets or parts thereof may under no circumstances be returned to the associated em- ployers or to the founders. The foundation's endow- ment fund must also not be alienated from the pur- pose of staff provident insurance in any other way.
Foundation Assets. LH shall use the existing assets of the Foundation consistent with each donor’s restrictions, if any. Further, the District and LH represent and warrant that the total amount of unrestricted donor assets held by the Foundation equals $6,980,147 as of June 2024, as evidenced on Schedule 3.1.5 hereto. LH agrees that within the first five (5) years following the Closing, LH shall cause the Foundation to deploy at least $6,980,147 to promote access to high-quality and affordable healthcare for Lee County residents. For purposes of clarity, assets pledged or donated to the Foundation after the Closing are not subject to the limitation of this Section 3.1.5.
Foundation Assets. All assets of the Fund shall be assets of the Foundation, treated as a component fund of the Foundation, and not a separate trust. The Fund shall be a “component part” of the Foundation. The Fund, and distributions from the Fund, shall be subject to the Founda- tion’s ultimate control and absolute discretion. The Fund shall be held and administered subject to and in accordance with the Foundation’s govern- ing documents and procedures as presently in effect or as amended from time to time, and with all applicable laws.