Association Costs definition

Association Costs as defined in Article IV, Section 1
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Association Costs means (i) all costs incurred and expenditures made by the Association in fulfillment of its responsibilities in accordance with Article IV hereof, and (ii) such reasonable reserves determined to be necessary by the Board of Directors from time to time, including, but not limited to, reserves for anticipated capital costs and extraordinary expenses.
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Examples of Association Costs in a sentence

  • The Owner of each Parcel shall pay to the Association its Pro-rata Share (as hereinabove defined in Section 18 of Article I) of the total Association Costs provided in Section 1 above, payable in such amounts and at such times as determined by the Association.

  • The Management Firm as so designated shall perform such maintenance and shall pay the Association Costs, and shall ▇▇▇▇ each Owner for its share of such costs, calculated as provided in Section 2 above, on a quarterly basis.

  • Each Owner shall pay such Owner’s share of such Association Costs, and the amounts so billed shall be due and payable to such Management Firm within thirty (30) days after the bills are rendered.

  • The payment of a Member’s Proportionate Share of the assessments for Association Costs shall be the personal liability of each Lot Owner during its period of ownership of the applicable Lot.

  • If the assessments levied, paid or collected are in excess of the amount actually required to pay all Association Costs, the excess amount shall remain in the reserve account.

  • The initial annual assessment and all subsequent assessments shall be fixed by the Board of Directors, giving due consideration to anticipated Association Costs (including reasonable reserves) as determined by the Board of Directors for the next succeeding twelve (12) month period.

  • Association Costs include non-parent coach ▇▇▇▇▇▇, non-parent coach travel, Regional Tournament Fees, State Tournament Fees, and Tryout Fees (Refs, Ice Rental, Evaluator Pay, and Goalie Evaluation).

  • In addition to the Payment Obligations, Subtenant acknowledges that it shall be responsible for its Member's Proportionate Share of the Association Costs (as said terms are defined in the Declaration).

  • All costs incurred by the Association in its attempts to collect the UP Costs from UPRR shall be considered Association Costs.

  • Subtenant's obligation to-pay the Payment Obligations and its Member's Proportionate Share of the Association Costs shall commence on the Effective Date, and not the Commencement Date.