Common use of Nonprofit Termination Clause in Contracts

Nonprofit Termination. If the Nonprofit ceases to exist with no successor, or if the Nonprofit ceases to qualify as a public charity as defined in Section 170(b)(l)(A) of the Internal Revenue Code, and such Condition is not cured within 30 days following written notice delivered by the Foundation to the Nonprofit at its last known address, then the Fund shall terminate and its assets shall become unrestricted assets of the Foundation.

Nonprofit Termination. If the Nonprofit ceases to exist with no successor, or if the Nonprofit ceases to qualify as a public charity as defined in Section 170(b)(l)(A) of the Internal Revenue Code, and such Condition condition is not cured within 30 days following written notice delivered by the Foundation to the Nonprofit at its last known address, then the Fund shall terminate and its assets shall become unrestricted assets of the Foundation.

Nonprofit Termination. If the any Nonprofit identified in this agreement ceases to exist with no successor, or if the any Nonprofit ceases to qualify as a public charity as defined in Section 170(b)(l)(A) of the Internal Revenue Code, and such Condition condition is not cured within 30 days following written notice delivered by the Foundation to the Nonprofit at its last known address, then the Fund shall terminate and its assets shall become unrestricted assets of follow the FoundationNonprofit Termination Plan described in Addendum II.