Strategic Reserve Sample Clauses

Strategic Reserve. Fifteenth, to a “Strategic Reserve” (or “SR”), the difference between the balance of the Strategic Reserve at the end of each Fiscal Year and Two Million Dollars ($2,000,000), or another amount as may be determined by the VDFI Board with concurrence of the Financial Review Team as described in Sections 3.3.16.9 through 3.3.16.10, or may be referred to the dispute resolution process in Section 8 by the Financial Review Team as described in Section 3.3.16.11. The purpose of the Strategic Reserve is to fund large-scale events, conventions and other strategic opportunities that will create economic benefit and that require a financial commitment to gain agreement from the event sponsors, organizers or promoters to stage the event in Portland.
Sample 1
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Strategic Reserve. Sixteenth, to a “Strategic Reserve” (or “SR”), the difference between the balance of the Strategic Reserve at the end of each Fiscal Year and Two Million Dollars ($2,000,000), or another amount as may be determined by the VDFI Board, as described below in Sections 3.3.16.9 through 3.3.16.10, or may be referred to the dispute resolution process in Section 8. The purpose of the Strategic Reserve is to fund large-scale events, conventions and other strategic opportunities that will create economic benefit and that require a financial commitment to gain agreement from the event sponsors, organizers or promoters to stage the event in Portland.
Sample 1

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