Entrance Deposit definition
Examples of Entrance Deposit in a sentence
In the case of Joint Residents, the Entrance Deposit shall be deemed to be a joint asset of the joint Residents with the right of survivorship and may be used for the care of either joint Resident.
Your Entrance Deposit, minus the Community Fee, is also available for your maintenance and support as provided in Section 10.
We do not require an additional Joint Resident Entrance Deposit if Joint Residents occupy the same Living Unit.
The Entrance Deposit is reduced to the specific amount described in the Flexible Payment Program Addendum, attached and incorporated hereto as Schedule II.
In the case of Joint Residents, the Entrance Deposit shall be deemed to be a joint asset of the Joint Residents with a right of survivorship and may be used for the care of either Joint Resident.
Ten percent (10%) of your Entrance Deposit is designated as the non-refundable Community Fee.
After depletion of outside assets, the Entrance Deposit (less the Community Fee) is considered available to you for your maintenance and support.
You will not be required to pay an additional or increased Entrance Deposit as long as you reside in your original Living Unit.
You will receive periodic statements reflecting the remaining balance of the Entrance Deposit (less the Community Fee).
However, we may make a partial refund of the Entrance Deposit, minus the Community Fee, to you in the following circumstances: 1) You transfer to a smaller Independent Living Unit than the Independent Living Unit which you currently occupy; and 2) the Entrance Deposit for the smaller Independent Living Unit is currently lower than the Entrance Deposit that the one you originally paid for an Independent Living Unit.