Common use of Transfer of the Transferred Assets Clause in Contracts

Transfer of the Transferred Assets. A. After the Closing Date, the Foundation agrees not to transfer the Transferred Assets without prior approval of the Attorney General, except as follows: 1. To make grants, scholarships, donations, program or mission related investments and other similar expenditures in furtherance of the Foundation’s charitable purposes; 2. To make payments in the ordinary course of business in order to satisfy the operating and administrative expenses of the Foundation, including without limitation: a. payroll and benefits; b. office and occupancy expenses; c. supplies and office furnishings; d. information technology expenses; e. fundraising expenses; and f. professional services. B. The Attorney General acknowledges and agrees that the Foundation may make any required payments to any State, Federal or local government in the ordinary course of business. C. The Attorney General acknowledges and agrees that the Foundation shall not be subject to any restriction or approval of the Attorney General with respect to any funds or assets held by the Foundation prior to the Closing Date (“Pre-Closing Foundation Assets”) or received after the Closing Date (“Post-Closing Foundation Assets”), except as set forth in Section XIV hereof. The Attorney General acknowledges and agrees that the Pre-Closing Foundation Assets and Post-Closing Foundation Assets are not covered by the terms of this Agreement.

Transfer of the Transferred Assets. A. After the Closing Date, the Foundation agrees not to transfer the Transferred Assets without prior approval of the Attorney General, except as follows: 1. To make grants, scholarships, donations, program or mission related investments donations and other similar expenditures in furtherance of the Foundation’s charitable purposes; 2. To make payments in the ordinary course of business in order to satisfy the operating and administrative expenses of the Foundation, including without limitation: a. expenses related to monitoring, compliance and enforcement of DLP obligations and commitments as described above b. payroll and benefits; b. c. office and occupancy expenses; c. d. supplies and office furnishings; d. e. information technology expenses; e. f. fundraising expenses; and f. g. professional services. B. The Attorney General acknowledges and agrees that the Foundation may make any required payments to any State, Federal or local government in the ordinary course of business. C. The Attorney General acknowledges and agrees that the Foundation shall not be subject to any restriction or approval of the Attorney General with respect to any funds or assets held by the Foundation prior to the Closing Date (“Pre-Closing Foundation Assets”) or received after the Closing Date (“Post-Closing Foundation Assets”), except as set forth in Section XIV hereof. The Attorney General acknowledges and agrees that the Pre-Closing Foundation Assets and Post-Pre- Closing Foundation Assets are not covered by the terms of this Agreement.