VARIANCE POWER definition

VARIANCE POWER. The Fund is protected from obsolescence. The Foundation’s Board of Directors has the authority to modify any restriction or condition on the distribution of funds for any specified charitable purposes if in the sole judgment of the board, such restrictions or conditions become, in effect, unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or area being served. This provision is consistent the Foundation Board’s variance power as set forth in tax regulations, 1.170A-9(e)(11)(V)(B), (C) and (D).
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VARIANCE POWER. The Board of Trustees shall have the power to modify any donor recommendation, restriction or condition on the distribution of funds for any specified charitable purpose or to specified organizations, if in the Board’s sole judgment (without the approval of any trustee, custodian or agent), such restriction or condition becomes, in effect, unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community served. AGREED: Date ▇▇▇▇ ▇. ▇▇▇▇▇ Date ▇▇▇▇ ▇. ▇▇▇▇▇ COMMUNITIES FOUNDATION OF TEXAS: Date ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, Chief Relationship Officer In order for Communities Foundation of Texas (“CFT”) to provide exemplary service, act as a wise steward of resources, and serve as a trusted partner for community knowledge and collaboration with the funds under its control, all Donor(s) must agree with the following terms:
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VARIANCE POWER. All funds established at WCCF are subject to WCCF’s “Variance Power.” The Variance Power gives WCCF’s Board the authority to modify any restriction or condition on the distribution of funds for any qualified specified purposes or to specified organizations if in the sole judgment of the Board (without the necessity of approval of any other trustee, custodian, or agent of WCCF), the restriction or condition becomes, in effect, unnecessary,
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Examples of VARIANCE POWER in a sentence

  • VARIANCE POWER All funds established at the Foundation are subject to the Foundation’s “variance power,” as set forth in its Bylaws.

Related to VARIANCE POWER

  • Combined cycle power facility means a generation facility that

  • explosive powered tool means a tool that is activated by an explosive charge and that is used for driving bolts, nails and similar objects for the purpose of providing fixing;

  • Reactive Power means the wattless component of the product of voltage and current, which the Facility shall provide to or absorb from the Grid System within the Technical Limits and which is measured in MVAR;

  • Independent Power Producer , or “IPP”, means a person that is not an electric provider but owns or operates facilities to generate electric power for sale to electric providers, this state, or local units of government.

  • net power means the power obtained on a test bench at the end of the crankshaft or its equivalent at the corresponding engine or motor speed with the auxiliaries, and which is determined under the reference atmospheric conditions;