Foundation Contributions Sample Clauses

Foundation Contributions. An annual allowance of $2,000 is made available ------------------------ for charitable contributions of the Executive's choice from the Company's Foundation budget.
Sample 1
AutoNDA by SimpleDocs
Foundation Contributions. Prior to August 1, 1998, the Foundation has made monetary contributions in the amount of $942,053, of which $830,153 has been paid to MedQuest and $111,900 has been paid directly to the University of Virginia gift account. It is the intent of the Foundation to contribute up to an additional $2,057,947 to the Company. It is intended that a portion of the funding will be allocated to the Utah Artificial Heart Program under a separate agreement subject to approval by the Board of Managers. The Foundation also agrees to use reasonable efforts to raise additional funds to contribute to the Company. MedQuest is not obligated to accept any contributions. It is intended that any such additional contributions shall be made according to the Proposed Budget Estimate shown in Exhibit D, Table I. The Foundation shall have the right, but not the obligation, to contribute additional amounts to the Company, but only with the consent of all of the Board of Managers.
Sample 1
Foundation Contributions. Except for funds acquired in an equity offering by GRMH for the purpose of funding a surgical center or hospital acquisition by Foundation, no Borrower may contribute, advance or otherwise disburse funds to Foundation.
Sample 1
Foundation Contributions. Notwithstanding any other provision of the Loan Documents, no Borrower or Borrower Subsidiary may contribute, advance or otherwise disburse funds to Foundation, except that: (a) GRMH may contribute to Foundation, directly or indirectly, 90% of the funds acquired in an equity offering by GRMH for the purpose of funding a surgical center, hospital or similar, related or complementary business acquisition by Foundation, if 10% of the funds acquired in that equity offering are applied to the Borrowers’ Obligations in accordance with the Loan Documents; and (b) if no uncured Default exists and is continuing; and on or before April 1, 2013, the Borrowers (i) pay or cause to be paid to the Bank in immediately available funds the aggregate of all payments of principal that would otherwise become due under the Loan Documents between April 1, 2013, and October 1, 2013, to be immediately applied to Borrowers’ Obligations owed to the Bank in accordance with the Loan Documents; and (ii) deposit or cause to be deposited in the Required Prepayment Account the aggregate of all interest payments that would otherwise become due under the Loan Documents between April 1, 2013, and October 1, 2013 (to be applied by the Bank on the dates such interest payments become due, except that after Default the Bank may immediately apply such funds to the Borrowers’ indebtedness to the Bank in the Bank’s sole and absolute discretion), then GRMH may pay or cause one or more of its Borrower Subsidiaries to distribute to the existing Foundation preferred holders $2,600,000.00 pursuant to the existing Operating Agreements for Foundation. Except as permitted by this paragraph 10(b), no contribution, advance or other distribution may be made by any Borrower or Borrower Subsidiary to any Foundation equity holder, while the Borrowers’ Obligations to the Bank remain outstanding (it being understood and agreed that payment of such distributions by Foundation from its own funds or funds from other sources is not prohibited by this paragraph 10(b) nor governed by the Loan Agreement). AND RESTATED LOAN AGREEMENT
Sample 1
Foundation Contributions. The Guess? Foundation is a California non-profit public benefit corporation established in 1994 as a vehicle through which the Borrower periodically makes voluntary charitable contributions. Although certain directors and executive officers of the Borrower also participate as directors and officers of the Guess? Foundation, no proceeds thereof will, directly or indirectly, compensate or materially benefit any related person. To: JPMorgan Chase Bank, N.A., as Administrative Agent Ladies and Gentlemen: Reference is made to that certain Credit Agreement, dated as of July 6, 2011 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among Guess ?, Inc., a Delaware corporation (the “Borrower”), each lender from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. The undersigned hereby requests (select one):
Sample 1

Related to Foundation Contributions

  • Pension Contributions While on leave pursuant to Section B. of this Article, an employee may make contributions to the appropriate State pension system and will receive service credit for the time the employee is on unpaid leave.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Campaign Contributions The CONTRACTOR is hereby notified of the applicability of 11-355, HRS, which states that campaign contributions are prohibited from specified state or county government contractors during the terms of their contracts if the contractors are paid with funds appropriated by a legislative body.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Charitable Contributions Make any charitable or similar contributions, except in amounts not to exceed five thousand dollars ($5,000) individually, and twenty thousand dollars ($20,000) in the aggregate.

  • Contributions Without creating any rights in favor of any third party, the Member may, from time to time, make contributions of cash or property to the capital of the Company, but shall have no obligation to do so.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!