Fund Representative Clause Samples
The 'Fund Representative' clause designates a specific individual or entity as the official point of contact and decision-maker for the fund in relation to the agreement. This representative is typically authorized to receive notices, provide approvals, and act on behalf of the fund in contractual matters. By clearly identifying who holds this authority, the clause ensures efficient communication and decision-making, while also preventing confusion or disputes about who can legally bind the fund.
Fund Representative. The Managing Member is hereby designated as the “partnership representative” of the Fund for any tax period subject to the provisions of Subchapter C of Subtitle F, Chapter 63 of the Code, as amended by the Bipartisan Budget Act of 2015, P.L. 114-74 (together with any subsequent amendments thereto, Treasury Regulations promulgated thereunder, and published administrative interpretations thereof) and if a “designated individual” (within the meaning of Treasury Regulations Section 301.6223-1(b)(3) is required to be appointed, the Managing Member shall designate the individual to serve as the designated individual (such designated individual together with the partnership representative, the “Fund Representative”). The Fund Representative shall represent the Fund in any disputes, controversies or proceedings with the U.S. Internal Revenue Service or with any state or local or non-U.S. taxing authority and is hereby authorized to take any and all actions that it is permitted to take, including making the election under Section 6226 of the Code to have the Members take tax adjustments into account on their own tax returns. The Fund shall reimburse the Fund Representative for all costs and expenses incurred by it in performing its duties as the Fund Representative (including legal and accounting fees and expenses). Nothing herein shall be construed to restrict the Fund from engaging an accounting firm or a law firm to assist the Fund Representative in discharging its duties hereunder. The Members acknowledge the proposed revenue procedure set forth in Notice 2005-43, 2005-24 I.R.B. 1 (May 20, 2005), and expressly intend that the Fund shall be enabled to make a “Safe Harbor Election” and to issue “Safe Harbor Partnership Interests” within the meaning thereof. If such proposed revenue procedure (or a substantial equivalent) is promulgated in final, effective form, the Fund Representative shall (without the need for further action by the Members) have all necessary authority under this Agreement to give effect to the intention set forth in the preceding sentence (including the authority to make any applicable tax election on behalf of the Fund and the Members).
Fund Representative. □ Mr. □ Mrs. □ Ms. □ Mx. □ Dr. □ Other: □ Prefer no honorifics First Name Middle Initial Last Name Preferred Name Role(s) with Company Street City State Zip Code Primary Phone: Primary Email: Fund Representative 2 (optional): □ Mr. □ Mrs. □ Ms. □ Mx. □ Dr. □ Other: □ Prefer no honorifics First Name Middle Initial Last Name Preferred Name Role(s) with Company Street City State Zip Code Primary Phone: Primary Email: Authorized Parties Please designate authorized parties to recommend grants from the Gift Fund and/or provide online access to the Gift Fund (“Authorized Party(ies)”). Additional individuals can be authorized to make recommendations of grants from the Gift Fund or access information on the Gift Fund through the Foundation’s online portal. To authorize the proper level of authority, please provide the requested information of the individual to be authorized below and select the level of authority. If more than two individuals are to be authorized, please list additional Authorized Parties, their contact information and the level of authority in an attachment to this Agreement. Authorized Party (optional): □ Mr. □ Mrs. □ Ms. □ Mx. □ Dr. □ Other: □ Prefer no honorifics First Name Middle Initial Last Name Preferred Name Role(s) with Company Street City State Zip Code Primary Phone: Primary Email: Grants Access. Authorized Party may (a) make recommendations of grants from the Gift Fund, and (b) access and view all information about the Gift Fund. View Only. Authorized Party may access and view all information about the Gift Fund. Authorized Party 2 (optional): □ Mr. □ Mrs. □ Ms. □ Mx. □ Dr. □ Other: □ Prefer no honorifics First Name Middle Initial Last Name Preferred Name Role(s) with Company Street City State Zip Code Primary Phone: Primary Email: Grants Access. Authorized Party 2 may (a) make recommendations of grants from the Gift Fund, and (b) access and view all information about the Gift Fund. View Only. Authorized Party 2 may access and view all information about the Gift Fund. Referral (optional) Who referred you to Foundation For The Carolinas? Referral Source: Street City State Zip Code Email: Phone Number: Opening Contribution Please indicate the amount and nature of the opening contribution to the Gift Fund. The minimum opening contribution is $50,000 for all Gift Funds, except the minimum opening contribution for an Executive Engagement Corporate Donor Advised Fund is $10,000. Additional gifts can be made at any time. Please include the fu...