Operating Surplus. If, at any time, the Provider accumulates an Operating Surplus, BC Housing in its sole discretion, may: a. require the Provider to make a repayment to BC Housing, in an amount to be determined by BC Housing; or b. allow the Provider to retain a portion of the Operating Surplus, in which case the Provider may make expenditures, as approved by BC Housing, to: i. make payments for programs for the benefit of the Residents where such programs are related to the Support Services and are consistent with the goals of this Agreement; or ii. make payments for capital repairs, renovations or improvements at the Development.
Appears in 3 contracts
Samples: Supportive Housing Fund Operator Agreement, Operator and Support Services Agreement, Supportive Housing Fund Operator Agreement
Operating Surplus. If, at any time, the Provider accumulates an Operating Surplus, BC Housing in its sole discretion, may:
a. require the Provider to make a repayment to BC Housing, in an amount to be determined by BC Housing; or
b. allow the Provider to retain a portion of the Operating Surplus, in which case the Provider may make expenditures, as approved by BC Housing, to:
i. make payments for programs for the benefit of the Residents where such programs are related to the Support Services and are consistent with the goals of this Agreement; or
ii. make payments for capital repairs, renovations or improvements at the Development.
Appears in 1 contract
Samples: Expansion Operator Agreement
