WPN definition
Examples of WPN in a sentence
In the event the collegiate chapter with which Participant is affiliated loses its charter from Sigma Tau Gamma Fraternity, Participant’s participation in the Program shall be effectively suspended Notwithstanding the foregoing, WPN shall maintain ownership of Participant’s Assets during the term of such suspension.
WPN reserves the right to raise or lower the monthly management fee upon 90 days advance written notice to Participant if WPN deems it necessary or advisable.
If at any time within seven (7) years from the date the charter was lost or such longer term of years as agreed upon by Participant and WPN, the collegiate chapter is rechartered, Participant (or its successor,so long as such successor is registered and in good standing with Sigma Tau Gamma Fraternity) shall be entitled to recommence participation in the Program with all rights and benefits reinstated.
WPN shall acquire absolute title to the Assets transferred to its by Participant hereunder, and WPN and Participant agree that WPN shall under no circumstance be deemed a trustee, escrow agent or other fiduciary agent with respect to such Assets.
If the collegiate chapter is not rechartered within such period, all rights and benefits of Participant in the Program, including any Assets held by WPN, shall be permanently divested in favor of WPN, and this Agreement shall terminate.
WPN shall prepare reports, copies of which shall be provided to Participant twice annually, which shall include all assets, balance sheets, revenue and expense reports and earnings statements, in order that Participant be aware of the financial status of the Assets.
In connection therewith, Participant agrees to transfer all cash and other liquid assets as stated on the Application which are owned by Participant as of the date of this Agreement (the “Assets”) to an account held in the name of WPN.
Subject to and upon the terms and conditions set forth in this Agreement, Participant hereby agrees to participate, and WPN agrees to accept Participant as a Participant, in the Program.
Participant agrees to fully comply with all operating policies and procedures adopted by WPN and all amendments thereto, as contained in this Agreement and all other handbooks, manuals or other written publications or established procedures adopted by WPN and as amended and in effect from time to time.
Participant further represents and warrants that all information, documents and representations supplied to WPN pursuant to the Application, are true and correct in all material respects.