Corpus Fund definition

Corpus Fund means the Fund comprising of the amounts to be paid / deposited and/or contributed by each Unit Allottee, including the Allottee herein, towards corpus fund which shall be held by the Maintenance Agency for the purpose of major repairs, replacements and additions to the Common Areas and other contingencies;

Corpus Fund means the capital, funds generated and kept for existence and sustenance of the organisation. Corpus Fund means the permanent fund kept for the basic expenditures need for the administration and survival of the organisation. Such fund can also be dedicated for the organisational activities such as Awards etc.

Corpus Fund. Corpus Fund shall mean one time exigency fund to be collected from the Purchasers for the purpose of making provision for expenses related to major repair works/ maintenance and upkeep of the said Property, as may be required and deemed fit and necessary by the Promoter.

Examples of Corpus Fund in a sentence

• The Corpus Fund shall be utilized by the Promoter towards major expenditure in maintenance of the said Building and other infrastructural facilities and amenities in the Project.

• However, the Promoter shall not be liable for any act/s, commission/s and/or omission/s and/or failure in future to maintenance and/or repairs of internal layout roads, recreation areas, street lighting, other facilities and/or other areas by reason of the fact that the aforesaid Township Corpus Fund is paid by the Allottee/s to the Promoter.

• If the line gets ready as per schedule and no project is commissioned, SPPD will have to pay charges as per applicable rules out of the Corpus Fund.

• The Promoter shall be entitled to transfer the balance Township Corpus Fund to such Federation as the Promoter may nominate and whereupon the Promoter shall be absolved from their liability in respect of the balance of the Township Corpus amount.

• It is agreed that the Promoter shall at their own option be entitled to utilize the said Township Corpus Fund for the purpose of the aforesaid arrangement in respect of the maintenance of internal layout roads, recreation areas and repairs thereof including street lighting etc.

• It is further agreed that the Promoter alone will have full, right, absolute authority and good power to invest the Township Corpus Fund in the manner deemed fit by the Promoter and the Allottee/s shall have no right/claim on the Township Corpus Fund and the Allottee/s shall not claim either refund thereof or hold the Promoter liable in that behalf in any manner whatsoever.

• It is clarified that the Township Corpus Fund is not by way of consideration for acquiring the Apartment by the Allottee/s and/or for any purported or alleged right or interest created on the arterial roads, gardens, Township Common Areas, sub-stations, the landscaped common areas, street lighting, recreation areas, infrastructure amenities etc., and/or for the recreation areas and/or other facilities, but for the purpose of payment for future maintenance in respect of the afore area.

• However if the said Corpus Fund is not created, the same shall be reimbursed by SPD to SPIA.

• It is agreed that the Promoter shall at their own option be entitled to utilize the Township Corpus Fund for the purpose of the afore arrangement in respect of the maintenance of internal layout roads, recreation areas and repairs thereof including street lighting etc.

• However, the Promoter shall not be liable for any act/s, commission/s and/or omission/s and/or failure in future to maintenance and/or repairs of internal layout roads, recreation areas, street lighting, other facilities and/or other areas by reason of the fact that the afore Township Corpus Fund is paid by the Allottee/s to the Promoter.

More Definitions of Corpus Fund

Corpus Fund means Corpus Fund of the University referred to in section 45;

Corpus Fund means the Fund comprising of the amounts paid / deposited and/or contributed by each Apartment Owner, including the Purchaser herein, towards corpus fund which shall be held by the Maintenance Agency for the purpose of major repairs, replacements and additions to the Common Areas and other contingencies;

Corpus Fund meanss the fund created by GIPCL by pro-rata contribu- tion from SPDs @ Rs. 5 Lacs/ MW to service transmission charges for booked capacity for a duration of 12 months.

Corpus Fund means the fund constituted or to be constituted for the maintenance of the Project, and/or towards the Common Areas & Amenities and the Residential Limited Common Areas & Amenities, Retail Limited Common Areas & Amenities and EWS/LIG Limited Common Areas & Amenities and shall be the amount stated in Article (3. [•]. 1) below, hereto payable to the Promoter.

Corpus Fund means fund granted by the Government of Puducherry for the functioning of the Board and implementation of welfare schemes, registration fees/renewal fees collected from the enrolled members, thrift deposits, loans, borrowings from members/ non-members and any other amount received from any person for the functioning of the Board and for implementation of welfare schemes of the Board;

Corpus Fund means any sum created by the TCMPF/……… District Cooperative Milk Producers’ Union Limited, for the purpose of sanction of ex-gratia pension and ex-gratia family pension under these regulations and shall include any sum credited as interest;