Common use of Suspension of Distributions Clause in Contracts

Suspension of Distributions. A. A Fund’s historic dollar value (“HDV”) is the sum of original and subsequent contributions to the Fund, not including investment earnings or losses. In the case where a distribution from a Fund would result in the Fund balance falling below the Fund’s HDV, such distribution must be authorized by both the primary fund representative (defined below) and the Board Chair of the beneficiary organization. B. Notwithstanding authorization by the primary fund representative and the Board Chair of the beneficiary organization, the Foundation shall suspend distributions from any Fund if a distribution would result in the Fund balance falling below sixty-six percent (66%) of the Fund’s HDV. C. Administrative fees paid to the Foundation shall continue even when distributions are suspended.