Common use of Additional Background Clause in Contracts

Additional Background. 1.1 The Foundation is a private and charitable foundation organized under the provisions of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), in order to further the charitable intent established by the Foundation. 1.2 The parties desire the charitable contribution made by the Agreement to be made in compliance with all of the applicable provisions of the Code, and accompanying Treasury Regulations governing charitable organizations formed in accordance with the Code, as interpreted and applied by the Internal Revenue Service.

Additional Background. 1.1 1.1. The Foundation is a private and charitable foundation organized under the provisions of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), in order to further the charitable intent established by the board of directors of the Foundation. 1.2 1.2. The parties desire the charitable contribution made by the this Agreement to be made in compliance with all of the applicable provisions of the Code, and accompanying Treasury Regulations governing charitable organizations formed in accordance with the Code, as interpreted and applied by the Internal Revenue Service.