Examples of Designation Letter in a sentence
On or after the date that is 15 Business Days after such notice, upon delivery to the Administrative Agent and each Lender of a Designation Letter duly executed by the Company and the respective Subsidiary and substantially in the form of Exhibit D hereto, such Subsidiary shall thereupon become a “Designated Subsidiary” for purposes of this Agreement and, as such, shall have all of the rights and obligations of a Borrower hereunder.
Each applicant must include a copy of its IRS Designation Letter, verifying the organization’s non-profit status, and a copy of the organization’s most recent annual report/budget.Organizations without such tax-exempt status may receive support by partnering with a tax-exempt organization willing to serve as the organization’s fiscal sponsor consistent with applicable law.Funds are dispersed to that sponsor, which then provides the funds to the sponsored organization.