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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 get minutes of foundation board meeting?

Should food pantry run all gifts through church?

Should sports education group create a for-profit subsidiary?

What are tax implications of my personal reparation?

May (c)(4) impose political requirement on members?

What should charity do with non-deductible gift?

Should small 501(c)(3) bid the work for new scholarship endowment?

May member submit question for annual meeting proxy?

How do we convince foundation we are 509(a)(2)?

May members remove directors at special meeting?

Must church provide 1099 to homeless housed in hotel?

When do we combine bank accounts in merger?

Should we enforce rule without minutes showing it was approved?

Should I join board of corporate foundation wanting to give abroad?

What do we do without receipt for gift of furniture?

How should we deal with $100 for virtual board dinner?

May volunteer fire company give station to municipality?

May moms exclude men from their social club?

May I use a “corporation sole” to control my nonprofit?

May director of social club serve on foundation’s board?