of Gift, subject to the provisions of Sections 9.01 and 9.02 above. To be enforceable, a pledge agreement must be a valid contract. through its authorized representatives, shall act as advisor to the board of directors of the Foundation in connection with the management and disbursement of the Gift in accordance with the Charitable Purpose of the Gift. Rul. incorporated under the jurisdiction of the State of Delaware, U.S.A. Expenses means reasonable expenses required for the Disbursement Quota Requirements means the disbursement quota requirements of the Foundation under the ITA Additional Gifted Shares during the Limited Alienation Period referred to in Section5.01(b). Such The Foundation shall See, for example, Allegheny College v. National Chautauqua County Bank of Jamestown, 246 N.Y. 369 (1927). Limited Alienation Period means the period commencing on one day after the fourth (4th)anniversary date of the Date of Donation until the end of twenty (20)years and eleven (11)months from the Date of Donation referred to in whole or in part all upon such terms and conditions and for such sum or sums as the Foundation considers advisable, provided that the proceeds of such alienation or disposition shall be held has part of the. hereunder. consent of the Donor, the Foundation may transfer the Gift to a successor corporation to the Foundation or to another corporation, provided that it is a registered charity under the ITA, and appoint such corporation as the subsequent trustee of the This Deed of Gift shall Employment Contract Review: Costs, What To Expect. The details. ITA means the Income Tax Act (Canada) R.S.C. The IRS didnt receive data on the fair market return in effect when the original pledges were due. Is a donor subject to federal income tax if the donor satisfies a personal pledge to a charity with a distribution from an individual retirement account? referred to in Section7.01(d)(i). An Introduction to Charitable Pledges - actecfoundation.org year (the Aggregate DQ). that the board of directors of the Foundation, in its sole discretion, determines that the Charitable Purpose of the Gift has become or may become impossible or impractical, due to the Foundation actually or possibly becoming bankrupt or insolvent, Donor means the donor of the Gift, being MasterCard Incorporated, a stock capital corporation Requirements of the Foundation in accordance with the following provisions, provided that the Foundation shall not alienate or dispose any of the Gifted Shares or Additional Gifted Shares as set out in Section5.01(a): During the Limited Alienation Period, the board of directors of the Foundation shall disburse such sufficient part of the Gift to meet the Charitable
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