GIFT PROVISIONS Sample Clauses
The Gift Provisions clause defines the terms under which gifts may be given or received in the context of the agreement. It typically outlines any restrictions on the value or type of gifts, specifies approval processes, and may require disclosure of gifts to avoid conflicts of interest. This clause helps ensure transparency and ethical conduct by preventing undue influence or the appearance of impropriety in business relationships.
GIFT PROVISIONS. The Donor establishes this Permanent Fund Account(s) with the Foundation to further the mission of the Presbyterian Church (U.S.
A.). To this end, the Donor has (1) completed and executed this Application and Agreement, for approval and acceptance by a duly-authorized officer of the Foundation; and (2) irrevocably transferred the Gift to the Foundation. The Foundation shall permanently hold, invest and reinvest the Gift as the Foundation shall determine within its sole and absolute discretion. The Foundation shall make Distributions to the Charitable Beneficiaries, or Contingent Beneficiaries, as applicable, subject to the Restriction(s). The Foundation may, in its sole discretion, commingle the assets of this Permanent Fund Account with the other endowment funds held by the Foundation and is compensated for investment advisory and/or other services. A reasonable fee may be charged by the Foundation for the management and administration of Permanent Fund Account(s), as determined by the Foundation from time to time. Unless otherwise noted in the Restriction(s), Distributions from this Permanent Fund Account(s) shall be made pursuant to then applicable Board policy and organizational procedures.
GIFT PROVISIONS. Example: You are in the process of submitting a contracting bid to a state agency. You provide the agency head with a gift certificate for $45 to a popular West Hartford eatery for her to use on her own. You have not previously given anything of value to this individual. Even though you are under the permissible $49.99 food and beverage limit, this gift is not allowed because you or your representative will not be in attendance while the food and beverage is being consumed.