Common use of Future Changed Circumstances Clause in Contracts

Future Changed Circumstances. If, in the opinion of the Board, all or part of the Fund cannot at some time in the reasonably foreseeable future be usefully or practically applied to the stated purposes or if the purposes cannot be achieved because of a future change in law or unforeseeable circumstances, the Foundation may use the Fund for any related purpose which in the opinion of the Board will most nearly accomplish the stated purposes. Should the Foundation cease to exist, the principal of the Fund will be distributed in the manner provided in the Articles of Incorporation of the Foundation.

Appears in 3 contracts

Samples: Account Agreement, Chapter Support Fund Agreement, Chapter Support Fund Agreement

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