Charitable Foundations Sample Clauses

Charitable Foundations. Each of the Charitable Foundations is a Missouri nonprofit corporation which has applied for exemption, or is exempt, from taxation pursuant to Section 501(c)(3) of the Code.
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Charitable Foundations. Use commercially reasonable efforts to promptly qualify each Charitable Foundation as exempt from taxation pursuant to Section 501 (c)(3) of the Code, and once such qualification is obtained, not cause or permit any Charitable Foundation to lose its status as a nonprofit corporation which is exempt from taxation pursuant to Section 501 (c)(3) of the Code, and not cause or permit any Charitable Foundation to violate any provision of its organizational documents.
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Charitable Foundations. The Company has initiated the establishment of two charitable foundations or equivalent not-for-profit entities, one to be established in Israel and one to be established in the United States or such other jurisdiction as may be determined by the Board (the "Charitable Foundations"), to each of which the Company intends to assign or transfer the equivalent of a 3% overriding royalty or equivalent net profits interest. Subject to legal requirements as reasonably determined by the Company, the Company shall take all reasonable steps to appoint the Chairman to represent the Company in all matters concerning the establishment and organization of the Charitable Foundations and to appoint the Chairman as the Chairman of the board of trustees or board of directors or equivalent governing body as may be established to supervise the activities of the Charitable Foundations (the "Governing Bodies"). Nothing in the Agreement shall be deemed to estop the Chairman from receiving director fees from either or both of the Charitable Foundations in such manner and amounts as shall be determined in accordance with the organizational documentation of each of the Charitable Foundations. The Chairman's term as Chairman of the Governing Bodies shall not be coextensive with the Term of this Agreement,and shall continue notwithstanding the termination of this Agreement. The terms governing Chairman's position with the Governing Bodies shall be specified in the Governing Bodies constituting documents.
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Charitable Foundations. 39 SECTION 10 AFFIRMATIVE COVENANTS. ................................................................................. 39 10.1 Reports, Certificates and Other Information............................................................................. 39 10.2 Books, Records and Inspections ............................................................................................... 41 10.3 Maintenance of Property; Insurance ......................................................................................... 42 10.4 Compliance with Laws; Payment of Taxes and Liabilities....................................................... 42 10.5 Maintenance of Existence, Material Licenses, etc.................................................................... 42 10.6 Use of Proceeds ........................................................................................................................ 42 10.7 Employee Benefit Plans............................................................................................................ 42 10.8 Environmental Matters.............................................................................................................. 43 10.9 Compliance with Loan Documents........................................................................................... 43 10.10 Credit Ratings ........................................................................................................................... 43 10.11 Conference Call ........................................................................................................................ 43 SECTION 11 NEGATIVE COVENANTS......................................................................................... 43 11.1 Debt........................................................................................................................................... 43 11.2 Liens.......................................................................................................................................... 45 11.3 Operating Leases....................................................................................................................... 45
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Charitable Foundations. 49 11.20 Transactions Having a Material Adverse Effect ....................................................................... 49 11.21 Guaranties ................................................................................................................................. 49 11.22 Exceptions................................................................................................................................. 50 SECTION 12 EFFECTIVENESS; CONDITIONS OF LENDING, ETC........................................... 50 12.1 Effectiveness............................................................................................................................. 50 12.2 Conditions................................................................................................................................. 51 SECTION 13 EVENTS OF DEFAULT AND THEIR EFFECT........................................................ 52 13.1 Events of Default ...................................................................................................................... 52 13.2 Effect of Event of Default......................................................................................................... 53 SECTION 14 AGENTS. ..................................................................................................................... 54 14.1 Appointment of Agents............................................................................................................. 54
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Related to Charitable Foundations

  • Charitable Contributions Make any charitable or similar contributions, except in amounts not to exceed five thousand dollars ($5,000) individually, and twenty thousand dollars ($20,000) in the aggregate.

  • Distributions to Members To the extent available after meeting the financial obligations of the Company, and after providing any necessary reserves as determined by the Manager, the Company shall distribute cash and other assets to the Member in a manner determined by the Manager, at such times and on such terms and conditions as deemed appropriate by the Manager.

  • Regular Distributions Subject to the rights of the holders of Preferred Units ranking senior to or on parity with the Series H Preferred Units, the holders of Series H Preferred Units shall be entitled to receive on each Distribution Payment Date, out of assets of the Partnership legally available for the payment of the distributions, monthly cumulative cash distributions at the following rates per annum on the $1,000 liquidation preference per Series H Preferred Unit:

  • Distributions, Etc Upon the dissolution, winding up, liquidation or reorganization of the Tenant, whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Tenant, if any sum shall be paid or any property shall be distributed upon or with respect to any of the Pledged Collateral, such sum shall be paid over to the Secured Parties, to be held as collateral security for the Secured Obligations. If any dividend shall be declared on any of the Pledged Collateral (excluding cash dividends), or any share of beneficial interest or fraction thereof shall be issued pursuant to any split of beneficial interests involving any of the Pledged Collateral, or any distribution of capital shall be made on any of the Pledged Collateral, or any property shall be distributed upon or with respect to the Pledged Collateral pursuant to recapitalization or reclassification of the capital of the Tenant, the shares or other property so distributed shall be delivered to the Secured Parties to be held as collateral security for the Secured Obligations.

  • Other Distributions (i) Securities or property available to the Depositary resulting from any distribution on Deposited Securities other than Cash, Share Distributions and Rights ("Other Distributions"), by any means that the Depositary may deem equitable and practicable, or (ii) to the extent the Depositary deems distribution of such securities or property not to be equitable and practicable, any U.S. dollars available to the Depositary from the net proceeds of sales of Other Distributions as in the case of Cash. Such U.S. dollars available will be distributed by checks drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without liability and dealt with by the Depositary in accordance with its then current practices.

  • Distributions to Shareholders (a) The Trustees shall from time to time distribute ratably among the Shareholders of any class of Shares, or any series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, such proportion of the net profits, surplus (including paid-in surplus), capital, or assets held by the Trustees as they may deem proper or as may otherwise be determined in accordance with this Declaration. Any such distribution may be made in cash or property (including without limitation any type of obligations of the Trust or any assets thereof) or Shares of any class or series or any combination thereof, and the Trustees may distribute ratably among the Shareholders of any class of shares or series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, additional Shares of any class or series in such manner, at such times, and on such terms as the Trustees may deem proper or as may otherwise be determined in accordance with this Declaration.

  • DISTRIBUTIONS TO HOLDERS OF CERTIFICATES Section 5.01 Distributions Generally. Section 5.02 Distributions from the Certificate Account. 70 Section 5.03 Allocation of Losses. Section 5.04 Advances by Master Servicer, Servicers and Securities Administrator. Section 5.05 Compensating Interest Payments. 79 Section 5.06 Reserve Fund.

  • Preferred Distributions For any period and without duplication, all Distributions paid, declared but not yet paid or otherwise due and payable during such period on Preferred Securities issued by the Borrower or any of its Subsidiaries or REIT. Preferred Distributions shall not include dividends or distributions: (a) paid or payable solely in Equity Interests of identical class payable to holders of such class of Equity Interests; (b) paid or payable to the Borrower or any of its Subsidiaries; or (c) constituting or resulting in the redemption of Preferred Securities, other than scheduled redemptions not constituting balloon, bullet or similar redemptions in full.

  • Residual Distributions If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Corporation ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Corporation shall be entitled to receive all remaining assets of the Corporation (or proceeds thereof) according to their respective rights and preferences.

  • Membership Dues Association membership dues, as explicitly approved by the Trustees;

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