Fund Duration Clause Samples
The Fund Duration clause defines the specific period during which a fund will operate, from its inception to its termination. Typically, this clause outlines the start date, the expected lifespan of the fund (such as 10 years), and any provisions for extensions or early termination. For example, it may allow the fund manager to extend the fund’s life by a set number of years with investor approval. The core function of this clause is to provide certainty and structure for both investors and managers regarding the timeline for investments, distributions, and eventual wind-down of the fund.
Fund Duration. The Fund is perpetual.
Fund Duration. The Fund is not perpetual. It is anticipated that the principal and earnings of the Fund will be distributed, committed, granted or expended, provided, however, that all such distributions, commitments, grants or expenditures shall be in accordance with paragraph (e) below.
Fund Duration. The privilege of making recommendations is limited to the Donor. Such privilege of the Donor will be continuous with the existence of the Fund unless the privilege is terminated earlier by (i) death, (ii) written notice to the Foundation of resignation or release, or (iii) a finding by the Foundation that the person involved is not available or is incompetent to exercise the privilege.