Common use of Ministry Fund Clause in Contracts

Ministry Fund. The Ministry will establish a Single Charity Fund (the “Ministry Fund”) with the Foundation in accordance with the Policies and Guidelines of the Foundation. The Ministry Fund will be used to receive, hold, invest and distribute the future proceeds of the gift portion of any Annuities or, if reinsured, the present value of the otherwise-anticipated future proceeds of such gift portion. At the recommendation of such persons designated in writing by a duly authorized representative of the Ministry, cash proceeds held by the Foundation in such Ministry Fund may be distributed to the Ministry or invested in an investment portfolio selected by the Ministry. Nothing contained in this Agreement or any other verbal or written communications from the Foundation to the Ministry, shall be construed as a guarantee by the Foundation that the assets held in any such Ministry Fund will (i) maintain its original value, (ii) increase in value, (iii) not diminish in value, or (iv) earn a specified rate of return.

Ministry Fund. The Ministry will establish a Single Charity Fund (the “Ministry Fund”) with the Foundation in accordance with the Policies and Guidelines of the Foundation. The Ministry Fund will be used to receive, hold, invest and distribute the future proceeds of the gift portion of any Annuities or, if reinsured, the present value of the otherwise-anticipated future proceeds of such gift portion. At the recommendation of such persons designated in writing by a duly authorized representative of the Ministry, cash proceeds held by the Foundation in such Ministry Fund may be distributed to the Ministry or invested in an investment portfolio selected by the Ministry. Nothing contained in this Indemnity Agreement or any other verbal or written communications from the Foundation to the Ministry, shall be construed as a guarantee by the Foundation that the assets held in any such Ministry Fund will (i) maintain its original value, (ii) increase in value, (iii) not diminish in value, or (iv) earn a specified rate of return.