CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated, the Community Foundation shall use any remaining assets in the Fund exclusively for charitable or other exempt purposes that:
CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated for failure to satisfy either of such conditions, the Foundation shall devote any remaining assets in the Fund exclusively for charitable purposes that (a) are within the scope of the charitable purposes of the Foundation’s Articles of Incorporation; and (b) most nearly approximate, in the good faith opinion of the Board of Directors, the original purpose of the Fund.
CONTINUITY OF THE FUND. The Fund shall continue as long as assets are available in the Fund and the purposes of the Fund can be served by its continuation. If the Fund is terminated, the Community Foundation shall disburse any remaining assets in the Fund to the City exclusively for deposit in the City of Urbana’s Public Art Program fund. In the event that the corporate authorities terminate the Public Art Program, any such disbursement made upon closing out the Fund shall be made to the City of Urbana fund for maintenance of permanent public art projects and/or sculptures, in the absence thereof, to the City of Urbana for general marketing efforts. Administrative Provisions The Community Foundation agrees to administer the Fund as follows:
CONTINUITY OF THE FUND. The Fund shall continue so long as the purposes of the Fund can be served by its continuation. If the operations of the undergraduate Zeta shall be suspended for any reason, the Foundation will hold the assets of the Fund for educational purposes pending re-establishment of undergraduate Zeta operations, and/or pending further direction of the Donor. Notwithstanding the foregoing, if undergraduate Zeta operations shall not have been re-established by the date which is five (5) years after the suspension of undergraduate Zeta operations, the Fund shall terminate automatically. If the Fund is terminated, the Foundation may use any remaining assets in the Fund for charitable or other exempt purposes that are within the scope of the purposes of the Foundation and most nearly approximate, in the good faith opinion of the Board, the original purpose of the Fund.
CONTINUITY OF THE FUND. If the Foundation dissolves, or ceases to hold or administer the Fund or otherwise to function under this agreement, the assets of the Fund, after payment or making provision for payment of any liabilities properly chargeable to the Fund, shall be distributed to such charitable organizations as the Foundation’s Board of Directors may select, with primary consideration given to the stated purpose of the Fund.
CONTINUITY OF THE FUND. If any of the events referred to in Section 2(i), (ii), (iii), (iv), (v) or Section 5 (iii) above occur, TSDF and Agency shall elect a new nonprofit habitat management organization approved by Agency and the TSDF Board of Governors. The Fund shall continue so long as assets are available in the Fund and the purposes in the Fund can be served by its continuation. If the Fund is terminated for any of the above reasons, TSDF shall devote any remaining assets in the Fund exclusively for charitable purposes that:
CONTINUITY OF THE FUND. The Fund shall continue so long as assets are available in the Fund and the purposes in the Fund can be served by its continuation. If the Fund is terminated for either of the above reasons, TSDF shall devote any remaining assets in the Fund exclusively for charitable purposes that:
CONTINUITY OF THE FUND. Upon the date of death of the survivor of the Fund Representative and the Donor (the “Determining Date”), the Fund shall become a named unrestricted fund; provided, however, that if at any time after the Determining Date the value of the Fund is less than $10,000.00, then the Fund shall cease to be a named fund and shall become a part of the unrestricted endowment funds of the Foundation.
