FMD Pool Sample Clauses
The FMD Pool clause establishes a collective fund or account where certain financial resources, such as fees, margins, or deposits, are pooled together for a specific purpose within a financial arrangement. In practice, this clause outlines how contributions are made to the pool, how the pooled funds are managed, and under what circumstances distributions or withdrawals can occur. By centralizing these resources, the FMD Pool clause helps ensure efficient risk management, facilitates the settlement of obligations, and provides a clear mechanism for handling shared financial exposures among parties.
FMD Pool. The University will provide a pool for funding faculty modified duties. Where and when possible, the funding will be applied so that FMD in any unit:
1. Results in hiring of faculty to replace necessary teaching responsibilities;
2. Does not result in cancellation of required classes;
3. Does not result in an increased teaching load for any unit faculty, unless by volition.