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SAY THAT AGAIN?

May 30, 2025

The loan agreement says: “All contractual rates of interest chargeable on the outstanding Term Loans shall continue to accrue and be paid even after default, maturity, acceleration, judgment, bankruptcy, insolvency proceedings of any kind or the happening of any event or occurrence similar or dissimilar.”

A former banker friend says that “any event or occurrence similar or dissimilar” is some lawyer “fancy talk” for “the kitchen sink!”

See our "Say That Again" collection

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How do we calculate deductions for gala tickets, sponsorship?

What should members do when do-nothing president resigns?

May nonprofit sell donated wine without UBIT?

What are charity’s risks from online retailer’s affiliate plan?

May director execute contract with another nonprofit where also a director?

How do we hold nonprofit water company accountable?

Should nonprofit accept board member with conflict?

How does small charity assure public charity status?

What should HOA board leave behind when resigning?

May 501(c)(3) nonprofit rent facility for political rally?

May donor change restrictions on charitable gift?

What should nonprofit president do when disrupter disrupts?

May nonprofit replace 1023-EZ with full Form 1023?

May charity fundraiser work for (c)(4) and PAC?

May nonprofit purchase and sell founder’s books?

Can chamber get rid of its board of directors?

May members review nonprofit’s Form 990?

Should nonprofit conflict policies cover personal relationships?

What should nonprofit animal rescue do when it loses insurance?

May 501(c)(3) vets group contribute to political party?