Common use of Foundation Funding and Administration Clause in Contracts

Foundation Funding and Administration. The Foundation is responsible for establishing a financial plan to pay the cost of Foundation programs, operations, and services. In addition to the consideration for the services provided under this agreement, the Foundation has the right to impose reasonable fee assessments on funds established with the Foundation to support its programs. The Foundation will provide reimbursement to the University for telephone systems used by the Foundation. The Foundation, at its own expense, will provide for adequate personnel, office supplies, and other such services that may be necessary or required to fulfill its responsibilities and obligations.

Foundation Funding and Administration. The Foundation is responsible for establishing a financial plan to pay the cost of Foundation programs, operations, and services. In addition to the consideration for the services provided under this agreement, the Foundation has the right to impose reasonable fee assessments on funds established with the Foundation to support its programs. The Foundation will provide reimbursement to the University university for telephone systems and utilities used by the Foundation. The Foundation, at its own expense, will provide for adequate personnel, office supplies, and other such services that may be necessary or required to fulfill its responsibilities and obligations.