Inurement, definition

Inurement, as used in this COI Policy, shall mean: (i) a transaction in which the ANA provides an economic benefit, directly or indirectly, to or for the use of any Covered Person where the value of that economic benefit exceeds the value of the consideration (including the performance of services) that the ANA receives in exchange; or (ii) any transaction or arrangement by or through which a Covered Person receives a direct or indirect distribution of the ANA’s funds (other than payment of fair market value for property or the right to use property and reasonable compensation for services).
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Inurement, as used in this COI Policy, shall mean: (i) a transaction in which ICANN provides an economic benefit, directly or indirectly, to or for the use of any
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Inurement,. This agreement shall inure to the benefit of and shall be binding upon all of the parties hereto and their respective heirs, executors, administrators, personal representatives, successors and assigns.
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Examples of Inurement, in a sentence

  • See Chapter 8 for additional discussion.Tax-Exempt Status (Private Inurement & Taxable Income) SummaryIf the nonprofit entity is earning a development fee, there are two issues that may affect the tax-exempt status of the entity.

  • Inurement Common law practice dictates that neither the income nor assets of a not-for-profit organization can be distributed to employees, directors, founders, or any other person other than for the fulfillment of the organization’s statutory purposes.

  • Private Inurement Explained: The term “private inurement” is used to describe a private benefit to a person who is an “insider” to the corporation.

  • A Note on Private Benefit and Private Inurement: The text in Section 5.1 (and similar language in Section 3.1) that prohibits the distribution of profits or gains to officers, directors or any other persons relates to the important requirement that the activities of a section 501(c)(3) corporation cannot operate in a way that creates a substantial benefit to private individuals or for-profit entities.

  • Inurement This agreement is binding upon and shall inure to the benefit of the parties hereto, their heirs, personal representatives, successors and newly elected public officials.

  • Leff, Preventing Private Inurement in Tranched Social Enterprises, 45 SETON HALL L.

  • Comm., Final Approval of New COMAR Regulations – Private Inurement by Nonprofit Institutions of Higher Education 13, 15 ( Jan.

  • Jones Fortenberry PLLC, The Inurement Prohibition & Non-Profit Or- ganizations, NONPROFIT L.

  • Inurement, a particular form of private benefit is discussed in the next session.

  • Tax-Exempt Status (Private Inurement & Taxable Income) If the nonprofit entity is earning a development fee, there are two issues that may affect the tax- exempt status of the entity.


More Definitions of Inurement,

Inurement, as used in this COI Policy, shall mean: (a) a transaction in which PTI provides an economic benefit, directly or indirectly, to or for the use of any Covered Person where the value of that economic benefit exceeds the value
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Inurement, means impermissible private benefit to a Director or a party related to a Director.
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Inurement, means enriching a church leader, such as a member or church board member. “Enriching” means the church is providing a benefit, good, or service, for less than its fair market value to someone or the church is paying more than fair market value for a benefit for a good, or service that is buys. For example, in the context of this policy, inurement occurs when the church allows a church leader to use the
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Inurement, as used in this COI Policy, shall mean: a transaction in which DS provides an economic benefit, directly or indirectly, to or for the use of any Covered Person where the value of that economic benefit exceeds the value of the consideration (including the performance of services) that DS receives in exchange.
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Related to Inurement,

  • Irrigation efficiency (IE) means the measurement of the amount of water beneficially used divided by the amount of water applied. Irrigation efficiency is derived from measurements and estimates of irrigation system characteristics and management practices. The irrigation efficiency for purposes of this ordinance are 0.75 for overhead spray devices and 0.81 for drip systems.

  • Energy efficiency means the ratio of output of performance, service, goods or energy, to input of energy;

  • Critical Path means those Trade Contractor Work activities identified on the Construction Schedule which, if delayed, will cause a corresponding Delay in the Substantial Completion Date.

  • Complications of Pregnancy means conditions whose diagnoses are distinct from pregnancy but are adversely affected by pregnancy or are caused by pregnancy. These conditions include acute nephritis, nephrosis, cardiac decompensation, missed abortion and similar medical and surgical conditions of comparable severity. Complications of pregnancy also include nonelective cesarean section, ectopic pregnancy which is terminated and spontaneous termination of pregnancy, which occurs during a period of gestation in which a viable birth is not possible.

  • durability means the ability of components and systems to last so that the environmental performance can still be met after a mileage set out in paragraph 2.4. and so that vehicle functional safety is ensured, if the vehicle is used under normal or intended circumstances and serviced in accordance with the manufacturer’s recommendations.

  • Project Management Agreement means the agreement dated the 20th February 1985 made between the Trustee and the Manager providing for the Manager to manage and co-ordinate the development and construction of the Resort and includes, if that agreement is terminated, any other agreement in like and similar terms made with the prior consent of the Minister;

  • Continuous parameter monitoring system or "CPMS" means all of the equipment necessary to meet the data acquisition and availability requirements of this chapter, to monitor process and control device operational parameters (for example, control device secondary voltages and electric currents) and other information (for example, gas flow rate, oxygen or carbon dioxide concentrations), and to record average operational parameter value on a continuous basis.

  • Deaf/blindness means concomitant hearing and visual impairments, the combination of which causes such severe communication and other developmental and educational problems that they cannot be accommodated in special education programs solely for students with deafness or students with blindness.

  • Zero tolerance means Agency initiated activities, such as education and training, which are intended to prevent occurrences of abuse, neglect, exploitation, and abandonment involving persons with developmental disabilities and facilitate quicker identification and reporting of potentially harmful situations and environments in which abuse, neglect, exploitation, or abandonment may arise.

  • Integrated pest management means careful consideration of all available plant protection methods and subsequent integration of appropriate measures that discourage the development of populations of harmful organisms and keep the use of plant protection products and other forms of intervention to levels that are economically and ecologically justified and reduce or minimise risks to human health and the environment. ‘Integrated pest management’ emphasises the growth of a healthy crop with the least possible disruption to agro-ecosystems and encourages natural pest control mechanisms;

  • Project Management The individuals appointed by each Party cf. clause 4.1 in the Agreement.

  • Competencies means powers given to a public authority in respect of a specific activity which is key to ensuring the provision of a public service and includes powers of planning, regulating, setting standards, constructing, financing, managing, monitoring and evaluating, sanctioning or intervening in any way to ensure that a function is discharged;

  • Project Management Unit and “PMU” each means the Recipient’s unit responsible for the implementation of its Respective Part of the Project referred to in Section I.A.2 of Schedule 2 to this Agreement.

  • Multiple Exchange Carrier Access Billing or “MECAB” means the document prepared by the Billing Committee of the OBF, which functions under the auspices of the Carrier Liaison Committee (CLC) of the Alliance for Telecommunications Industry Solutions (ATIS). The MECAB document, published by ATIS as ATIS/OBF-MECAB- Issue 6, February 1998, contains the recommended guidelines for the billing of access services provided to an IXC by two (2) or more LECs, or by one LEC in two (2) or more states within a single LATA.

  • Operational means that the system or sensor, at the time of the event, is active or can be activated/deactivated by the driver.

  • Repeatability means the range of values within which the repeat results of cigarette test trials from a single laboratory will fall 95 percent of the time.

  • Compatibility means compatibility as defined in point (10) of Article 2 of Directive (EU) 2019/770;

  • PJM Reliability Assurance Agreement means that certain Reliability Assurance Agreement Among Load Serving Entities in the PJM Region, on file with FERC as PJM Interconnection L.L.C. Rate Schedule FERC No. 44, and as amended from time to time thereafter.

  • Efficiency means the gas turbine manufacturer's rated heat rate at peak load in terms of heat input per unit of power output based on the lower heating value of the fuel.

  • Nominal tomographic section thickness means the full width at half-maximum of the sensitivity profile taken at the center of the cross-sectional volume over which x-ray transmission data are collected.

  • Parallel operation means the Generating Facility’s electrical apparatus is connected to the Transmission Provider’s system and the circuit breaker at the point of common coupling is closed. The Generating Facility may be producing electric energy or consuming electric energy at such time.

  • Outcomes means the Health and Wellbeing Outcomes prescribed by the Scottish Ministers in Regulations under section 5(1) of the Act;

  • Payment Infrastructure Provider means a payments clearance system or other third party which forms part of a payment system infrastructure, including without limitation communications, clearing or payment systems and intermediary banks or correspondent banks who are not agents of the Service Provider;

  • Autism spectrum disorder means a neuro-developmental condition typically appearing in the first three years of life that significantly affects a person's ability to communicate, understand relationships and relate to others, and is frequently associated with unusual or stereotypical rituals or behaviours.

  • HCPCS means CMS' Healthcare Common Procedure Coding System, which describes products, supplies, procedures and health professional services and includes, the American Medical Associations (AMA's) Physician "Current Procedural Terminology", Fourth Edition (CPT-4) codes, alphanumeric codes, and related modifiers.

  • Service Level Agreement or SLA means the processes, deliverables, key performance indicators and performance standards relating to the Services to be provided by the Service Provider;