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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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May (c)(3) group hold elections at ticketed banquet?

May public inspect booster club records?

May club give scholarships to members’ kids first?

How do we avoid looking like salary reduces programs?

I can’t honor charity auction of my house. Am I liable?

Should we remove director?

Is gift for earmarked computer deductible?

May we provide hearing aids to public without incurring UBIT?

May sister of a nonprofit director broker real estate purchase?

May director be present by telephone?

Does right to vote reduce value of membership contribution?

May HOA hold “Christmas” party instead of a “holiday” party?

What do we call transgender person in our documents?

Would renting roof for wi-fi connector jeopardize exemption?

How do we avoid liability after name change?

Would you worry about auctioning helicopter rides?

What should we report on unsolicited big gift?

How should we handle building relocated to our property?

May tenant of charity display political signs?

May church be used as a marital asset in a divorce?