Common use of Use of Net Proceeds Clause in Contracts

Use of Net Proceeds. In accordance with the Community of ▇▇▇▇▇▇ net proceeds policy, the mission center officers will be responsible for developing a proposal for the use of net proceeds in consultation with the field apostle and the mission center council. The resolution to sell Camp Manitou indicates that the net proceeds “shall be utilized for pursuing mission through the development of campground properties and mission center camping and gathering activities.” The mission center officers will develop and guide a dialogue and discernment process in the coming months to explore ideas and options for the use of net proceeds. Conversation will occur at summer reunions and August budget presentations. Additional feedback through surveys may also be gathered. To provide for an open and Spirit-led discernment process, no deadline or expectation is in place at this time for bringing a proposal to a mission center conference.

Use of Net Proceeds. In accordance with the Community of ▇▇▇▇▇▇ net proceeds policy, the mission center officers will be responsible for developing a proposal for the use of net proceeds in consultation with the field apostle and the mission center council. The resolution to sell Camp Manitou indicates that the net proceeds “shall be utilized for pursuing mission through the development of campground properties and mission center camping and gathering activities.” The mission center officers will develop and guide a dialogue and discernment process in the coming months to explore ideas and options for the use of net proceeds. Conversation will occur at summer reunions and August budget presentations. Additional feedback through surveys may also be gathered. To provide for an open and Spirit-led discernment process, no deadline or expectation is in place at this time for bringing a proposal to a mission center conference. A: Yes, the buyer is C.K.S.K. LLC.