Spendable Letter Clause Samples

A Spendable Letter clause defines the conditions under which a letter of credit or similar financial instrument can be drawn upon or utilized by the beneficiary. Typically, this clause outlines the documentation required, the process for presenting claims, and any limitations on the amount or timing of draws. For example, it may specify that funds can be accessed upon delivery of certain goods or completion of specific milestones. The core function of this clause is to ensure that the beneficiary has clear, actionable terms for accessing funds, thereby reducing uncertainty and facilitating smooth financial transactions between parties.
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Spendable Letter. A letter will be mailed annually detailing the available amount for distribution from the Gift fund. Unless otherwise noted, Advisor 1 will be designated as the recipient of the spendable letter. If the spendable letter should instead be sent to a different recipient, please provide the name and full contact information of this recipient in the space below. Name: Address: Fund Advisors Please designate Advisors to the Gift Fund. Please indicate a preference for whether Advisors should be designated: □ No Advisors – the Foundation should use its exclusive discretion in administering the Gift Fund’s distributions and investments. □ Advisors are designated below: A. Advisor(s). Advisor 1: □ Same as Opening Donor(s) □ Other (provide information below): FULL NAME (first, middle, last) PREFERRED SALUTATION (e.g., ▇▇. ▇▇▇▇▇ ▇. Smith or ▇▇▇ ▇▇▇▇▇) HOME ADDRESS CITY STATE ZIP RELATIONSHIP TO DONOR DATE OF BIRTH (optional) BUSINESS OR ORGANIZATION NAME TITLE BUSINESS ADDRESS CITY STATE ZIP HOME PHONE BUSINESS PHONE CELL PHONE E-MAIL (preferred) Preferred Phone: □ Home □ Business □ Cell Preferred Mail: □ Home □ Business FULL NAME (first, middle, last) PREFERRED SALUTATION (e.g., ▇▇. ▇▇▇▇▇ ▇. Smith or ▇▇▇ ▇▇▇▇▇) HOME ADDRESS CITY STATE ZIP RELATIONSHIP TO DONOR DATE OF BIRTH (optional) BUSINESS OR ORGANIZATION NAME TITLE BUSINESS ADDRESS CITY STATE ZIP HOME PHONE BUSINESS PHONE CELL PHONE E-MAIL (preferred) Preferred Phone: □ Home □ Business □ Cell Preferred Mail: □ Home □ Business B. Online Access to the Gift Fund Choose one level of authority, as defined above:
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Spendable Letter. A letter will be mailed annually detailing the available amount for distribution from the Agency fund. Unless otherwise noted, Representative 1 will be designated as the recipient of the spendable letter. If the spendable letter should instead be sent to a different recipient, please provide the name and full contact information of this recipient in the space below. Name: Address: Investments The Foundation is pleased to offer a variety of investment pools for Agency Funds. All investment pools are reviewed by the Foundation’s Investment Committee. Please complete Addendum I – Agency Fund Investment Recommendation Form – to select an investment pool. FFTC offers investment options that span the risk-return spectrum from conservative allocations to more growth oriented investment pools. For investment pool descriptions and information on performance, visit ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇. Affiliation Please indicate the primary Foundation affiliate with which the Agency Fund should be associated, if any. □ None/unaffiliated (generally associated with the Foundation) □ □ United Way Legacy Foundation □ Cabarrus County Community Foundation □ Cleveland County Community Foundation □ Lexington Area Community Foundation □ The ▇▇▇▇ Foundation (Richmond County) □ Stanly County Community Foundation □ Cherokee County Community Foundation □ □ York County Community Foundation Other ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Library Foundation Greater Charlotte Cultural Trust ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Community Foundation Iredell County Community Foundation Lincoln County Community Foundation ▇▇▇▇▇▇▇▇▇-▇▇▇▇▇ Community Foundation Union County Community Foundation □ Lancaster County Community Foundation Service Level Please indicate the Foundation’s service level that you choose for the Agency Fund. Which of the Foundation’s service levels should apply to the Agency Fund: □ Standard – Please refer to The Charitable Giving Guide for more information.
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Spendable Letter. A letter will be mailed annually detailing the available amount for distribution from the Agency Fund. Unless otherwise noted, Representative 1 will be designated as the recipient of the spendable letter. If the spendable letter should instead be sent to a different recipient, please provide the name and full contact information of this recipient in the space below. Name: Address: Investments The Trust is pleased to offer a variety of investment pools for Agency Funds. All investment pools are reviewed by the Trust’s Investment Committee. The Trust offers investment options that span the risk-return spectrum from conservative allocations to more growth oriented investment pools. For information on investment pool descriptions and performance, visit ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇. Service Levels Please indicate the service level that you choose for the Agency Fund. Which of FFTC’s service levels should apply to the Agency Fund: □ Standard – Please refer to The Charitable Giving Guide for more information.
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