RECOMMENDATIONS FOR DISTRIBUTION Sample Clauses

RECOMMENDATIONS FOR DISTRIBUTION. Subject to the Foundation's principles and procedures for scholarship funds, the commitments, grants or expenditures from the Fund contemplated in paragraph 3 shall be made on an annual basis with the selection of recipients based on the criteria specified in paragraph 14 and using the selection process specified in paragraphs 15 and 16. All recommendations from the Selection Committee shall be solely advisory, and the Foundation may accept or reject them, applying reasonable standards and guidelines with regard thereto.
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RECOMMENDATIONS FOR DISTRIBUTION. Subject to the Foundation's principles and procedures for scholarship funds, the commitments, grants or expenditures from the Fund contemplated in paragraph 3 shall be made on an annual basis with the selection of recipients. This selection will be based on the criteria specified, using the selection process agreed to by the Tidewater Community College Scholarship Selection Committee.
RECOMMENDATIONS FOR DISTRIBUTION. Subject to the Foundation’s principles and procedures for advised funds, the commitments, grants, or expenditures from the Fund contemplated in Paragraph 3 shall be made at such time or times and in such amount or amounts as may be determined solely by the Foundation for such purposes described in Paragraph 2 as may be designated by the Foundation; provided, however, that Donor or the Fund's Advisor may from time to time submit to the Foundation the specific charitable or other exempt purposes or the names of specified organizations for or to which it is recommended that distributions be made. All recommendations from Donor shall be solely advisory, and the Foundation may accept or reject them, applying reasonable standards and guidelines with regard thereto. The foregoing notwithstanding, the Donor may designate another advisor to the Fund at any time by written instrument delivered to the Foundation, and any designated Advisor may designate one or more successor advisors to the Fund. If the Donor, the Donor’s designated Advisor(s) and all other designated successor advisors all fail or cease to act, the Board of Directors of the Foundation shall itself serve as the advisor of the Fund and shall treat the Fund as a general charitable Fund supporting the above-stated purposes, subject to the Foundation’s authority to vary the terms of any gift or fund as described above in Paragraph 3. If more than one person is acting as advisor at any one time, such advisors shall act by majority vote.
RECOMMENDATIONS FOR DISTRIBUTION. Subject to the Community Foundation's policies and procedures for scholarship funds, the commitments, grants or expenditures from the Fund contemplated in paragraph 3 shall be made on an annual basis with the selection of recipients based on the criteria specified in paragraph 14 and using the selection process specified in paragraphs 15 and 16. All recommendations from the Selection Committee shall be solely advisory, and the Community Foundation may accept or reject them, applying reasonable standards and guidelines with regard thereto. Except as provided in the Specific Provisions, below, after the death or incapacity of Donor, the assets of the Fund will be distributed to [The Indianapolis Foundation or the Legacy Fund] Community Scholarship Fund and the Fund will be terminated.
RECOMMENDATIONS FOR DISTRIBUTION. 6.1 The "Fund Advisor" may advise the Foundation in writing from time to time regarding distributions from the Fund. The Fund Advisor may from time to time submit to the Foundation the names of proposed grantees to which the Fund Advisor recommends that the Foundation make distributions and the amounts of such recommended distributions. Any such proposed grantee shall be an organization described in paragraph 5.1. 6.2 All recommendations from the Fund Advisor shall be solely advisory. The Foundation shall consider all advice given in accordance with this Agreement and shall apply reasonable standards and guidelines with respect to any proposed distribution to any proposed grantee. The Foundation may otherwise accept or reject any proposed distribution or any proposed grantee. Subject to the foregoing, distributions from the Fund shall be made at such times and in such amounts as the Foundation shall determine. The Donor acknowledges that the Foundation is under no obligation to accept or follow the advice of the Fund Advisor. 6.3 The Donor shall be the initial advisor of the Fund (the “Fund Advisor”). If the "Donor" consists of more than one person (such as husband and wife), they shall coordinate their advice so that the Foundation does not receive conflicting advice. If husband and wife are the Donor, upon the incapacity or death of either of them the other shall be the Fund Advisor. Upon the death of the Donor, or upon the death of the survivor of husband and wife if both are the Donor, the Foundation shall serve as the Fund Advisor. (Here you may also name successor advisors)
RECOMMENDATIONS FOR DISTRIBUTION a. The Founders shall be the advisors of the Fund (the “Fund Advisors”). Upon the death or incapacity of one of the Founders, the remaining Founder shall be the Fund Advisor. Upon the death or incapacity of the last surviving Founder, this fund shall be converted to an endowment, to be held in perpetuity; with the Board of Governors of TSDF itself serving as the advisor of the Fund. b. Distributions from the Fund may be made from income and/or principal and shall be made at such times and in such amounts as may be determined by the Board of Governors. There shall be no requirement that income be distributed each year; income may be accumulated and added to principal. Consistent with the foregoing, distributions shall be made to such distributees of the type described in paragraph 4 as may be designated by TSDF; provided, however, that the Fund Advisors may from time to time submit to TSDF the names of distributees to which it is recommended that distributions be made, which distributees shall not be other than those described in paragraph 4. All recommendations from the Fund Advisors shall be solely advisory, and TSDF may accept or reject them, applying reasonable standards and guidelines with regard thereto.

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