Repair and Replacement Reserve Fund definition

Repair and Replacement Reserve Fund means the repair and replacement reserve fund established under the Master Indenture.
Sample 1Sample 2Sample 3
Repair and Replacement Reserve Fund means the fund of the same name created by the Board.
Sample 1
Repair and Replacement Reserve Fund means the fund so designated and established pursuant to the Resolution.
Sample 1

Examples of Repair and Replacement Reserve Fund in a sentence

  • Repair and Replacement Reserve Fund – This fund is used to accumulate financial resources designated for future major repairs and replacements.

  • The Repair and Replacement Reserve Fund is designed to accumulate funds for capital repairs and replacement of the commonly owned assets of the Condominium.

  • There is hereby authorized to be established a fund, to be designated the Extraordinary Repair and Replacement Reserve Fund.

  • A necessary component of the Debtor’s reorganization is the preservation of its Operating Reserve Fund and its Repair and Replacement Reserve Fund, which are collectively referred to as the Reserve Accounts.

  • Based on a draft October 18, 2016 Reserve Study (attached as Exhibit 2), the Debtor’s current Repair and Replacement Reserve Fund is significantly underfunded.

  • As such, the Plan contemplates (i) a significant Cash disbursements upon Plan Confirmation to bring the Repair and Replacement Reserve Fund to approximately $512,823.00, and (ii) increasing the annual reserve contribution to approximately $400,000 in 2017 with an annual increase of six percent (6%) for a majority of years during the Plan.

  • The balance in the Repair and Replacement Reserve Fund was$150,001 as of June 30, 2020.Project Fund - The School established a Project Fund in order to deposit proceeds from the sale of the bonds and disburse them in accordance with the bond agreement.

  • The balance in the Reserve Fund was $658,246 as of June 30, 2020.Repair and Replacement Fund - The School established a Repair and Replacement Reserve Fund in which the School is required to deposit and maintain an amount equal to at least $150,000.

  • If the amount on deposit in the Operating Fund is less than the amount required to be transferred therefrom, the Trustee shall withdraw first from the Revenue Fund, second from the Operating Reserve Fund and third from the Repair and Replacement Reserve Fund such amounts as will increase the amount in the Operating Fund to an amount sufficient to make such transfers and shall deposit such amount in the Operating Fund.

  • In the event the Reorganized Debtor’s expenses are beyond the projections of the Debtor, the Reorganized Debtor reserves the right to utilize funds from either the Operating Reserve Fund or the Repair and Replacement Reserve Fund in order to stabilize the financial condition of the Reorganized Debtor and replenish such funds with adjustments to the Annual Assessments, or if necessary, a special assessment or Plan Payment Fee, in the sole discretion of the Reorganized Debtor.

Related to Repair and Replacement Reserve Fund

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve As defined in Section 9.5.1.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.