Replacement reserves definition

Replacement reserves means funds for the upkeep, repair, or replacement of those parts of the property, including but not limited to roofs, walls, decks, paving, and equipment, that the association is obligated to maintain.

Replacement reserves or ‘RR’ means the active power reserves available to restore or support the required level of FRR to be prepared for additional system imbalances, including generation reserves;

Replacement reserves means $250 per year per bed in each Facility (whether or not such Facility is stabilized).

Examples of Replacement reserves in a sentence

• Replacement reserves must be included in the operating budget but are not included as part of the operating reserves.

• Replacement reserves are required for all tax credit applications.

• Replacement reserves must be shown on the pro forma and increase at a rate of four percent (4%) per year.

• Replacement reserves must be funded with annual deposits from operational cash flow (not pre- funded) during the initial twenty (20) years.

• The following minimum reserves are required for all HTC units in the development, including staff units: Rehabilitation ($300 per unit)New Construction-Elderly ($250 per unit) New Construction-Family ($300 per unit) Replacement reserves should be used only for capital improvements and system replacements and not used for general maintenance expenses.

More Definitions of Replacement reserves

Replacement reserves or 'RR' means the reserves used to restore or support the required level of FRR to be prepared for additional system imbalances, including operating reserves;

Replacement reserves means funds for the upkeep, repair, or replacement of those

Replacement reserves means funds set aside to cover some or all of the cost to replace assets as they are used up (for example, roof, plumbing, and appliances. These are “Capitalized costs” if shown on the development budget.

Replacement reserves means funds for the upkeep, repair, or replacement of those parts of the property, including but not limited to roofs, walls, decks, paving, and equipment, that the association is obligated to maintain. [L 2004, c 164, pt of §2; am L 2005, c 93, §7]

Replacement reserves means reserves maintained during the Qualified Project period and funded out of Residual Receipts, loan advances, equity, or other sources and set aside for replacement of roofing, furniture, fixtures, equipment and other capital expenditures. The annual amount set aside shall provide for a Replacement Reserve to cover replacement of capitalized cost items at no less than three hundred and fifty dollars ($350) per unit per year, ,or such higher amount as may be required by a tax credit investor or senior Mortgagee and approved by Trust.

Replacement reserves means, in relation to electricity, the active power reserves available to restore or support the required level of frequency restoration reserves to be prepared for additional system imbalances;

Replacement reserves means reserves maintained during the Qualified Project period and funded out of Residual Receipts, loan advances, equity, or other sources and set aside for replacement of roofing, furniture, fixtures, equipment and other capital expenditures. The annual amount set aside for Replacement Reserves shall not be more than three hundred dollars ($400) per unit. Exceptions may be considered where required for continued feasibility of projects with short-term rent subsidy commitments, or when required by other funding agencies when approved in writing by the County.