Purpose of Reserve Sample Clauses

Purpose of Reserve. 1.1 The purpose of the appropriation reserve is to hold accumulated surpluses of the Joint Committee which can be made available, subject to the approval of the Joint Committee to:- (a) Meet any deficits arising on the Revenue Budget (b) Set aside sums for future capital investment purposes (c) Finance any other specified use approved by the Joint Committee.
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Purpose of Reserve. 1.1 The purpose of the Archive Acquisitions Reserve is to provide a source of funds available to finance archive acquisitions.
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Purpose of Reserve. To the extent that total operating receipts (including subsidies for operations) exceeds total operating expenditures of the Project, the LHA shall establish an operating reserve up to the maximum approved by HUD in con- nection with its approval of the annual oper- ating budgets for the Project. The purpose of this reserve is to provide funds for (1) the in- frequent but costly items of nonroutine maintenance and replacements of common property, taking into consideration the types of items which constitute common property, such as nondwelling structures and equipment, and, in certain cases, common elements of dwelling structures, (2) nonrou- tine maintenance for the Homes to the ex- tent such maintenance is attributable to de- fective materials or workmanship not cov- ered by warranty, (3) working capital for payment of a deficit in a Homebuyer’s NRMR, until such deficit is offset by future monthly payments by the Homebuyer or at settlement in the event the Homebuyer should purchase, and (4) a deficit in the oper- ation of the Project for a fiscal year, includ- ing a deficit resulting from monthly pay- ments totaling less than the break-even amount for the Project.
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Purpose of Reserve. The Authority shall establish and maintain a separate non- routine maintenance reserve (NRMR) for the Home, using a portion of the Homebuyer’s monthly payment. The purpose of the NRMR is to provide funds for the nonroutine main- tenance of the Home, which consists of the infrequent and costly items of maintenance and replacement shown on the Nonroutine Maintenance Schedule for the Home (see paragraph b of this section). Such mainte- ▇▇▇▇▇ may include the replacement of dwell- ing equipment (such as range and refrig- erator), replacement of roof, exterior paint- ing, major repairs to heating and plumbing systems, etc. The NRMR shall not be used for nonroutine maintenance of common property, or for nonroutine maintenance re- lating to the Home to the extent such main- tenance is attributable to the Homebuyer’s negligence or to defective materials or work- ▇▇▇▇▇▇▇.
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Purpose of Reserve. 1.1 The purpose of the capital reserve is to provide a source of funds available to finance capital expenditure
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Purpose of Reserve. The LHA shall establish and maintain a separate NRMR for each home, using a portion of the homebuyer’s monthly payment. The purpose of the NRMR is to provide funds for the nonroutine maintenance of the home, which consists of the in- frequent and costly items of mainte- ▇▇▇▇▇ and replacement shown on the Nonroutine Maintenance Schedule for the home (see paragraph (b) of this sec- tion). Such maintenance may include the replacement of dwelling equipment (such as range and refrigerator), re- placement of roof, exterior painting, major repairs to heating and plumbing systems, etc. The NRMR shall not be used for nonroutine maintenance of common property, or for nonroutine maintenance relating to the home to the extent such maintenance is attrib- utable to the Homebuyer’s negligence or to defective materials or ▇▇▇▇▇▇▇- ship.
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Purpose of Reserve. To the extent that total operating receipts (including subsidies for operations) exceed total operating expenditures of the Project, the LHA shall establish an operating reserve up to the maximum approved by HUD in connection with its ap- proval of the annual operating budgets for the Project. The purpose of this re- serve is to provide funds for (1) The infrequent but costly items of nonroutine maintenance and replace- ments of common property, taking into consideration the types of items which constitute common property, such as nondwelling structures and equipment, and in certain cases, common elements of dwelling structures, (2) Nonroutine maintenance for the homes to the extent such maintenance is attributable to defective materials or workmanship not covered by war- ranty,
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Related to Purpose of Reserve

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.

  • Purpose of Plan The Board of each Participating Fund maintains this Deferred Compensation Plan for Independent Directors and Trustees. The purpose of the Plan is to allow the independent directors and trustees of the Participating Funds to defer receipt of all or a portion of the compensation they earn for their service to the Participating Funds in lieu of receiving current payments of such compensation, and to treat any deferred amount as though an equivalent dollar amount had been invested in shares of one or more Eligible Funds. Each Board intends that the Plan shall be maintained at all times on an unfunded basis for federal income tax purposes under the Code. The Plan is not covered by the Employee Retirement Income Security Act of 1974, as amended.

  • Purpose of Company The purpose of the Company is to engage in any lawful act or activity for which limited liability companies may be formed under the Act and to engage in any and all activities necessary or incidental thereto.