Calculation of an Entrance Fee Refund Sample Clauses

Calculation of an Entrance Fee Refund. The calculation of the refund of the Entrance Fee shall be: (a) the unamortized balance of the Entrance Fee as of the date of transfer; less (b) the “Adjusted Entrance Fee For A Transfer to Another Accommodation With A Lower Entrance Fee” which is calculated as the ratio of the Entrance Fee paid by the Resident at the time of occupancy divided by the result of (i) the current Entrance Fee of the Residence the Resident currently occupies less (ii) a Refurbishment Fee for the Residence currently occupied, collectively multiplied by the Entrance Fee of the accommodation the Resident is transferring to (the “Adjusted Entrance Fee For A Transfer to an Accommodation With A Lower Entrance Fee”); further collectively multiplied by (iii) the percentage of the unamortized Entrance Fee of the initial Residence as of the date of transfer.
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Related to Calculation of an Entrance Fee Refund

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