Fund Only Clause Samples
The "Fund Only" clause restricts the use of provided funds strictly to the purposes or activities specified in the agreement. In practice, this means that the recipient cannot use the funds for unrelated expenses or projects, and must ensure that all expenditures are directly tied to the agreed-upon objectives. This clause serves to ensure accountability and proper allocation of resources, preventing misuse or diversion of funds and thereby protecting the interests of the funding party.
Fund Only. It is the intention of the Trustees to create only the relationship of Trustee and beneficiary between the Trustees and each Shareholder from time to time. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment or any form of legal relationship with another trust. Nothing in this Declaration of Trust shall be construed to make the Shareholders, either by themselves or with the Trustees, partners or members of a joint stock association.
Fund Only. (other than against the Fund Indemnitors)], who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.
Fund Only. A copy of the Agreement and Declaration of Trust of the Fund is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this Agreement has been executed on behalf of the Fund by an officer of the Fund as an officer and not individually and the obligations of the Fund arising out of this Agreement are not binding upon any of the trustees, officers or shareholders of the Fund individually but are binding only upon the assets and property of the Fund.
Fund Only. Primacy of Indemnification;]