Restricted Gifts. During the period between the date of this Disaffiliation Agreement and Closing, the Parties shall work together to identify any restrictions or change of control provisions in gifts, grants, endowments, restricted accounts and similar funds available or pledged to the Local Church. The Parties shall cooperate to determine any actions that may be necessary, including without limitation any consent or acknowledgment from the grantor of such funds, in order that such funds, resources or pledges will not be adversely affected by the disaffiliation of the Local Church. The Local Church, after disaffiliation, shall treat such funds and any future bequests or other gifts received in the pre-disaffiliation name of the Local Church, consistent with requirements of law and such donor’s direction in the written gift instrument, as restricted for the church related operations and activities as conducted by the Local Church.
Restricted Gifts. During the period leading up to the Disaffiliation Date, Local Church and PNWACUMC shall work together to identify and review any gifts, grants, donations, endowments, and memorial bequests to Local Church that are dedicated or restricted as to use or subject to reversion, change of control, or similar provisions, to ensure compliance with all restrictions particular to United Methodism and to determine any actions that are necessary, such as the consent or acknowledgment of the donor, to assure that the assets will not be adversely affected by the disaffiliation of Local Church. Local Church shall treat all dedicated and restricted funds and property received by it before the date of this Agreement, or subsequently received by it in its pre-disaffiliation name, in accordance with requirements of applicable law and the provisions of any written direction of the donor regarding the use of the funds or property.
Restricted Gifts. All gifts restricted for a specific library service will be initially authorized by the County Librarian, subject to Library Board of Directors approval when required under Library policies, and then accepted by the Foundation. The Foundation agrees to administer such gifts in accordance with the restrictions imposed by the donor or donors.
Restricted Gifts.
(a) The Institution agrees that, upon the request of the Authority and as a condition to the issuance of the Bonds, it shall deliver to the Authority a certificate of an Authorized Officer of the Institution satisfactory to the Authority setting forth and representing (i) the amount of Restricted Gifts theretofore received by the Institution in connection with the Project financed thereby, (ii) that all of such amount has been or will be spent on such Project or will be otherwise applied in a manner acceptable to the Authority, (iii) that such amount will not be reimbursed from the proceeds of the sale of such Bonds, (iv) whether the Institution reasonably expects that additional Restricted Gifts in connection with such Project will be received by the Institution while such Bonds are Outstanding, and (v) such other matters as may be required by the Authority to determine whether issuance of such Bonds will comply with the requirements of the Code.
(b) If, prior to completion of construction of the Project, the Institution receives any Restricted Gift therefor, the Institution shall, to the extent not inconsistent with the terms of such Restricted Gift, either (i) to the extent necessary to complete the Project, apply such amount in a manner acceptable to the Authority, or (ii) to the extent such moneys will exceed the amount necessary to complete the Project, pay such amount to the Trustee for deposit to the Debt Service Fund. If, after completion of the construction of the Project, the Institution receives any Restricted Gift which prior to such completion it reasonably expected to receive, the Institution shall deliver a like amount to the Trustee for deposit to the Debt Service Fund.
(c) The Institution represents, warrants and covenants that it has expended or will expend on the Project, from sources other than the proceeds of the issuance of Bonds, an amount equal to the amount of Restricted Gifts received and reasonably expected to be received by it in the future from pledges or otherwise, and no such moneys will be pledged as collateral for the Bonds or is otherwise expected to be used to pay the principal of or interest on Bonds, except as otherwise provided in paragraph (c) above. For purposes of this paragraph, it is understood that all or any part of the Project may be named in honor of a donor or donors in recognition of pledges, contributions or services of the donor or donors that are unrelated to the Costs of such Project, and amounts pled...
Restricted Gifts. The parties acknowledge that funds may be contributed subject to Donor conditions requiring the application of such funds to specific Projects. Such funds are referred to as “Restricted Gifts”. All other funds held in the Aggregation Account are referred to as “Unrestricted Funds.” CI will deposit all Restricted Gifts in the Aggregation Account, but shall treat such Gifts as separate funds on its books and shall disburse such Gifts as follows:
(1) When funding the First Project in Line, CI shall first apply to such Project any available Restricted Gifts and shall fund the balance of the Project costs using Unrestricted Funds.
(2) When the CI has on hand Restricted Gifts in an amount sufficient to close the Project for which they were donated which is not currently the First Project in Line, CI may, if all Closing Conditions are satisfied, proceed directly with such closing using such Restricted Gifts. Such closing will not affect the order in which remaining Projects will be funded.
Restricted Gifts. The term “Restricted Gifts” shall mean and include those gifts that are restricted in their use or application as a result of terms or conditions created by the donor, other than gifts restricted for the general use of the Diocese or a Related Institution. A Restricted Gift is always a Complex Gift.
Restricted Gifts. (a) The Institution agrees that it shall deliver to the Issuer a certificate of an Authorized Officer of the Institution satisfactory to an Authorized Officer of the Issuer setting forth and representing (i) the amount of Restricted Gifts theretofore received in connection with the NYMC Project, (ii) that all of such amount has been or will be spent on the NYMC Project or will be otherwise applied in a manner for which the Institution provides a Favorable Opinion of Bond Counsel addressed to the Issuer and the Trustee; (iii) that such amount shall not be reimbursed from the proceeds of the sale of the Series 2020A Bonds, (iv) whether the Institution reasonably expects to receive while Series 2020A Bonds are Outstanding any additional Restricted Gifts and
Restricted Gifts. Restricted Gifts will be accepted for the designated purpose (i) upon approval by the President/CEO; and (ii) provided that the intended purpose is in accordance with existing NHA policy and mission.
Restricted Gifts. Subject to the terms of this Policy, the Diocese or a Related Institution may accept Restricted Gifts in its own discretion, provided, however, that any such gift that falls into one of the categories described below shall be referred to the Chief Financial Officer of the Diocese (or such other person as the Trustee shall from time to
3.1 PAGE 6 OF 11
1. Restricted Gifts that are valued at greater than or equal to $100,000.
2. Restricted Gifts that are (i) inconsistent with the teachings or mission of the Catholic Church, or (ii) inconsistent with a publicly stated mission, purpose or goal of the Diocese or Related Institution.
Restricted Gifts. Subject to the terms of this Policy, the Diocese or a Related Institution may accept Restricted Gifts in its own discretion, provided, however, that any such gift that falls into one of the categories described below shall be referred to the Chief Financial Officer of the Diocese (or such other person as the Trustee shall from time to time designate) (the “CFO”) for review prior to acceptance. Upon any such referral, the GIFT ACCEPTANCE POLICY POLICY D –
3.1 PAGE 6 OF 11
1. Restricted Gifts that are valued at greater than or equal to $100,000.
2. Restricted Gifts that are (i) inconsistent with the teachings or mission of the Catholic Church, or (ii) inconsistent with a publicly stated mission, purpose or goal of the Diocese or Related Institution.
