Common use of Variance Power Clause in Contracts

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment of the Board of Directors of the Foundation, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s Board of Directors shall modify any restriction or condition on the use or distribution of the income and principal of the Fund.

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment of the Foundation’s Board of Directors of the FoundationDirectors, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s Board of Directors shall modify any restriction or condition on the use or distribution of the income and principal of the Fund.

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment of the Board of Directors of the Foundation, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s Board of Directors shall modify any restriction or condition on the use or distribution of the income and principal of the FundXxxx.

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment of the Board of Directors of the Foundation, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s 's Board of Directors shall modify any restriction or condition on the use or distribution of the income and principal of the Fund.

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment judgement of the Board of Directors of the Foundation, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s Board of Directors Director’s shall modify any restriction or condition on the use or distribution of the income and principal of the Fund. The foundation may not change the restriction of the Fund as endowment without the Donor’s written consent.

Variance Power. The Fund is protected from obsolescence. If, in the sole judgment of the Board of Directors of the FoundationBoard, the purposes for which the Fund was created ever become unnecessary, incapable of fulfillment, or inconsistent with the charitable needs of the community served by the Foundation, the Foundation’s Board of Directors shall modify any restriction or condition on the use or distribution of the income and principal of the FundFund pursuant to federal (United States Treasury Regulations Section 1.170A-9(e)(11)(v)(B), (C) and (D))) or state law.