Endowment Holder definition
Examples of Endowment Holder in a sentence
In support of the Endowment Fund, the Endowment Holder is responsible for investing, managing and distributing funds annually to the Conservancy as a non-wasting corpus.
The Endowment Holder may impose any administrative rules, forms, procedures or requirements that it determines to be consistent with its obligations under applicable law in connection with requests to disburse amounts from the Endowment.
The Endowment shall provide that it may be commingled with other Endowment Holder funds for investment purposes, but it shall be accounted for as a Donor Advised Fund and shall be subject to the Endowment Agreement.
Notwithstanding the foregoing, the non-Federal Party, may in its reasonable discretion, allow the Appeals Process to lapse prior to establishing the Endowment and donating the Endowment Amount to the Endowment Holder.
At the Closing, the non-Federal Party shall establish the Endowment by donating the Endowment Amount to the Endowment Holder.