Repairs and Maintenance Fund definition
Examples of Repairs and Maintenance Fund in a sentence
We may apply all monies paid by You to Us from time to time in settlement of, or towards, any monies or debt that You owe Us, irrespective of the reason for which the monies Were paid to Us except where We have agreed otherwise in relation to the Deposit or the Repairs and Maintenance Fund.
Once We have received Your application and Our surveyor has inspected the works and confirmed that You have complied with the requirements of this clause 32, We will release to You the amount of monies that You have proved that You have spent on the works up to the maximum of the amount held in the Repairs and Maintenance Fund.
Fund You must pay £[XXXX] (AMOUNT IN WORDS) plus VAT per annum to be put towards Your repairing and maintaining obligations and this will be applied and reviewed as set out in Clause 32 (Repairs and Maintenance Fund).
We agree that you shall be obliged to make alternative provision for this service and such services shall be of sufficient quality and provided in such frequency as may be reasonably necessary given the nature and trade of the Business conducted at the Property (and taking into account any statutory or other requirements that may apply).] [We agree that you shall not be obliged to pay the Repairs and Maintenance Fund (and we shall not be obliged to provide any services relating to such charge).