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consistent language: Sponsor instead of CF
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ebullient committed Dec 17, 2024
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Expand Up @@ -147,7 +147,7 @@ Beginning on the Effective Date, all monetary contributions to the Project will
**Expenditure Authority:**
While the Sponsor will delegate certain expenditure authority to the Signatories as provided in this Agreement and the [Terms and Conditions][], the Sponsor retains the unilateral right to spend such funds to accomplish the Project Purposes as nearly as possible[^1] within the Sponsor’s sole judgment, subject to any more specific donor-imposed restrictions on the use of such assets.

[^1]: This provision is meant to ensure that if it is no longer feasible for the funds to be spent for the Project Purposes (for example if a sponsored project ceases to operate), CF can use the funds for other projects without seeking approval of a court.
[^1]: This provision is meant to ensure that if it is no longer feasible for the funds to be spent for the Project Purposes (for example if a sponsored project ceases to operate), the Sponsor can use the funds for other projects without seeking approval of a court.

- The restricted fund must be used in alignment with donor intent and for tax-exempt purposes.

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