MAINTENANCE CORPUS/SINKING FUND Sample Clauses

MAINTENANCE CORPUS/SINKING FUND. The Total Price includes an amount of Rs. /- for creation of Maintenance Corpus/ Sinking Fund towards creation of a maintenance corpus / sinking fund for major repairs, renovation and/or reconstruction of the Common Areas and Facilities of the Luxury Zone and Luxury portion of the Future Development and/or for similar other eventualities. The maintenance corpus/sinking fund shall be held, invested and applied by the Promoter as a trustee of the allottees of the Luxury Zone and Luxury portion of the Future Development without requiring the express consent or approval of the allottees. This maintenance corpus/sinking fund together with accruals thereon (net of Income Tax) will be handed over to the Association at the time of handing over maintenance and management of the common areas and facilities of the Luxury Zone and Luxury portion of the Future Development, subject to adjustment/recovery of any expenses incurred by the Promoter on account of major repairs, renovation and/or reconstruction of any of the Common Areas and Facilities. P. DEFAULT IN PAYMENTS OF USAGE CHARGES OF COMMON FACILITIES DURING THE MAINTENANCE PERIOD: Failure to pay Maintenance Charges, Electricity Charges, DG usage Charges, and Membership Subscription of the Club within due dates may result in withdrawal/ restrictions/ disconnections/discontinuation of the respective common services to the Allottee and will make the Allottee liable to pay interest at 2% per month on the outstanding dues for the period of the delay, calculated from the due date till the date of actual payment.
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MAINTENANCE CORPUS/SINKING FUND. The Total Price includes an amount of Rs. /- for creation of Maintenance Corpus/ Sinking Fund towards creation of a maintenance corpus / sinking fund for major repairs, renovation and/or reconstruction of the Common Areas and Facilities of the Luxury Zone and Luxury portion of the Future Development and/or for similar other eventualities. The maintenance corpus/sinking fund shall be held, invested and applied by the Promoter as a trustee of the allottees of the Luxury Zone and Luxury portion of the Future Development without requiring the express consent or approval of the allottees. This maintenance corpus/sinking fund together with accruals thereon (net of Income Tax) will be handed over to the Association at the time of handing over maintenance and management of the common areas and facilities of the Luxury Zone and Luxury portion of the Future Development, subject to adjustment/recovery of any expenses incurred by the Promoter on account of major repairs, renovation and/or reconstruction of any of the Common Areas and Facilities.
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MAINTENANCE CORPUS/SINKING FUND. Before taking over the possession of the Apartment, the Allottee shall also pay to the Promoter an interest free security deposit amount towards the Sinking Fund Deposit calculated @Rs39/-, for creation of maintenance corpus/ sinking fund for, among others, major repairs, renovation and/or reconstruction of the Common Areas (“Maintenance Corpus”/ “Sinking Fund”) which has been included in the Total Price of the Apartment herein. All tax liabilities on account of Maintenance Security Deposit shall be borne by the Allottee. The Maintenance Corpus/Sinking Fund shall be held, invested and applied by the Promoter as a trustee of the purchasers/allottees of the Residential Zone without requiring the express consent or approval. This Maintenance Corpus/Sinking Fund together with accruals thereon (net of Income Tax) will be handed over to the Residential Zone Association at the time of taking over maintenance and management of the Residential Zone Shared Common Areas by the Residential Zone Association, subject to adjustment/recovery of any expenses incurred by the Promoter on account of major repairs, renovation and/or reconstruction of any of the Common Areas.
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MAINTENANCE CORPUS/SINKING FUND. Before taking over the possession of the Apartment, the Allottee agrees to pay the Developer an amount for creation of maintenance corpus/ sinking fund for, among others, major repairs, renovation and/or reconstruction of the Common Areas (“Maintenance Corpus/Sinking Fund”) which has been included in the Total Price of the Apartment herein. All tax liabilities on account of Maintenance Corpus/Sinking Fund have to be borne by the Allottee. The Maintenance Corpus/Sinking Fund shall be held, invested and applied by the Developer as a trustee of the allottees of the Project without requiring the express consent or approval. This Maintenance Corpus/Sinking Fund together with interest which will be calculated on the basis of prevailing general interest rate on fixed deposits of 3 (three) years tenure offered by SBI (excluding any special rate) and the same(net of Income Tax) will be handed over to the Project Association and the Federation proportionately at the time of taking over maintenance and management of the Shared Common Areas by the Federation, subject to adjustment/recovery of any expenses incurred by the Developer on account of major repairs, renovation and/or reconstruction of any of the Common Areas. The Allottee will be required to replenish their contribution towards Maintenance Corpus/Sinking Fund on receipt of any utilization of the Maintenance Corpus/Sinking Fund towards major repair, maintenance and replacement of infrastructure facilities including but not limited to STP (serving entire Housing Complex), transformer(s), DG Set(s) and façade/super structure of the of the Apartments in the Project.
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MAINTENANCE CORPUS/SINKING FUND. The Allottee shall pay an amount of Rs. _ (Rupees _ only) as maintenance corpus/sinking fund of the Unit towards major repair, maintenance and replacement of infrastructure facilities including but not limited to STP (serving/catering to, inter alia, the entire Project), lift, transformer(s), DG Set(s), shared water treatment plant or WTP and Façade and super structure of the Project ("Maintenance Corpus/Sinking Fund") irrespective of the date of construction/installation & commissioning/ handover of such facility. If the amount required for such major repairs and replacement as afore stated falls short, then, the Allottee will be required to pay the additional amount as demanded by the Promoter or its nominated agency(ies), as the case may be. The Allottee will be required to replenish their contribution towards Maintenance Corpus Fund on receipt of intimation of such utilization from time to time. If the monies lying in the Maintenance Corpus/Sinking Fund and accrued interest thereon are not sufficient to cover up the costs of major repairs/replacements of equipments, the Promoter or its nominated agency(ies), as the case may be, will be entitled to recover additional money from the Allottee(s) to meet the deficiency.
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Related to MAINTENANCE CORPUS/SINKING FUND

  • No Sinking Fund No sinking fund shall be established for the retirement or redemption of Series A Preferred Units.

  • Sinking Fund The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

  • Training Fund Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of xxx Xxxxxxxxxx Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike.

  • Optional If Vendor would like to display any applicable certificates or licenses (including HUB certificates) for TIPS and TIPS Member Customer consideration, Vendor may upload those at this location. These supplemental documents shall not be considered part of the TIPS Contract. Rather, they are Vendor Supplemental Information for marketing and informational purposes only.

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