Charitable Foundation. To the extent that Affiliate elects, at its option, to establish a charitable foundation to receive public contributions and engage in education programs, research projects, scholarship awards and other charitable activities, Affiliate shall establish the foundation as an independently incorporated not-for-profit corporation; shall register as a tax- exempt entity under Section 501(c)(3) of the Internal Revenue Code; shall permit the foundation to operate separate from Affiliate and file its own federal and state annual tax returns; and shall comply with such other legal requirements as may be necessary under state or federal law.
Charitable Foundation. AlCana is currently concluding an agreement with a charitable foundation (“Foundation”) covering a research and development program. The name of the Foundation will be disclosed in the detailed agreement. The planned research is directed at development of potential therapeutics for the treatment of a specific chronic and currently untreatable disease (“Foundation Disease”) [**]. The research program will include studies involving potential RNAi therapeutics. Tekmira agrees that AlCana will undertake this program under the following conditions:
Charitable Foundation. The Employer agrees to pay the sum of $2.00 for each regular employee (covered by this agreement) per month to a trust fund set up and established for religious, charitable and educational purposes as the same may be defined in Section 501 (c) (3) of the Internal Revenue C o d e or any amendment thereto. Said trust fund is to be known as the “ Teamsters’ Local 688 Foundation.” The Employer shall not be responsible for the contributions or other obligations of any other E m p l o y e r . The Employer agrees that its execution of this agreement shall constitute execution also of the Agree ment and Declaration of Trust which is attached hereto and marked Exhibit “ C” and is hereby incorporated by reference as though fully set out: the Employer further agrees to execute such other and additional copies of said Agreement and Declaration of Trust as the Trustees shall request for their records.
Charitable Foundation. Prior the end of the Term, the Company shall establish and fund a charitable foundation to be administered by the Employee for the benefit of the local community. Following the end of the Term and for a period of up to three years, the Employee shall earn fifteen hundred dollars ($1,500) per month for services performed on behalf of such new charitable foundation, with such payments to be made by the Company.
Charitable Foundation. (a) Company represents that the board of directors of the Company Bank Charitable Foundation is currently comprised of the individuals set forth on Company Disclosure Schedule Section 5.22. The Company shall use its best efforts to cause those individuals to remain on the board of the Company Bank Charitable Foundation until the Effective Time.
Charitable Foundation. At the Effective Time, Umpqua will establish a charitable foundation for the benefit of the communities served by the Surviving Corporation, and Umpqua will contribute $10,000,000 to such foundation.
Charitable Foundation. As of the Effective Time, (i) a majority of the board of directors of the Company Charitable Foundation shall consist of individuals that are acceptable to Buyer in its sole discretion, and (ii) the name of the Company Charitable Foundation shall have been changed to “Rockland Trust — Peoples Federal Foundation”. By way of example, if the board of directors of the Company Charitable Foundation has 5 members, 3 of them shall be acceptable to Buyer in its sole discretion; if the board of directors of the Company Charitable Foundation has 6 or 7 members, 4 of them shall be acceptable to Buyer in its sole discretion, in each case as of the Effective Time.
Charitable Foundation. NHSB acknowledges and agrees that SBM Charitable Foundation, Inc., the charitable foundation affiliated with Connecticut Bancshares, is in existence and will continue to be operated for the benefit of Connecticut Bancshares’ community, notwithstanding that it is NHSB’s intention that The New Haven Savings Bank Foundation, Inc., the charitable foundation affiliated with NHSB and/or a new charitable foundation to be established in connection with the Conversion, may at some time subsequent to the Effective Date, service each of Connecticut Bancshares’ and NHSB’s respective communities.
Charitable Foundation. Subject to any notification and/or approval required by relevant Governmental or Regulatory Authorities, (i) Company agrees to use all commercially reasonable efforts to terminate or dissolve Company Charitable Foundation and contribute its remaining assets to Buyer Charitable Foundation prior to the Closing or (ii) Buyer and Company agree to use all commercially reasonable efforts to, immediately after the Effective Time, consummate the merger of Company Charitable Foundation with and into Buyer Charitable Foundation, with Buyer Charitable Foundation the surviving entity.
Charitable Foundation. 50 5.16 Disclosure Supplements........................................... 51 5.17 Failure to Fulfill Conditions.................................... 51
