Capital Replacement Reserve Fund definition

Capital Replacement Reserve Fund means a fund established in accordance with the provisions of the Act, to be used for major repairs and replacements of any portions of theunits for which the Corporation is responsible, any real and personal property of the Corporation and the common property;

Capital Replacement Reserve Fund means a fund established in accordance with the provisions of the Act, to be used for major repairs and replacements of any portions of the Units for which the Corporation is responsible, any real and personal property of the Corporation and the Common Property;

Capital Replacement Reserve Fund. (CRRF) shall mean the monies set aside to fund Capital Equipment Replacement and capital improvements as needed from time to time for long-term upkeep of the Ice Facility.

Examples of Capital Replacement Reserve Fund in a sentence

• The Capital Replacement Reserve Fund shall be an asset of the Corporation and no part of that money shall be refunded or distributed to any Owner of a Unit except where the Project ceases to be governed by the Act.

• The Capital Replacement Reserve Fund may be used for the repair or replacement of any real and personal property owned by the Corporation and the Common Property but is not intended to be used to cover annually recurring maintenance and repair costs which are to be set out and provided for in the annual budget.

• The Corporation may by Ordinary Resolution, require that any or all members of the Board be bonded by a recognized bonding institution in an amount not less than the total funds in the Capital Replacement Reserve Fund of the Corporation, the cost of such bonding to constitute a Common Expense of the Corporation.

• The budget may include a reasonable provision for contingencies and shall include a reasonable provision for the Capital Replacement Reserve Fund.

• June 21, 2016 Tony Zabicki moved the Board of Directors authorize staff to remove and replace the existing heating system (boiler) at Canoa Hills pool with funds from the Capital Replacement Reserve Fund, not to exceed $25,000.

More Definitions of Capital Replacement Reserve Fund

Capital Replacement Reserve Fund means the fund referred to in Section 38 of the Act;

Capital Replacement Reserve Fund means the fund established by the Board to be used for the repair or replacement of the Common Property, the Managed Property, and any real and personal property owned by the Corporation;

Capital Replacement Reserve Fund means a fund established in accordance with the provisions of the Act, to be used for major repairs and replacements of the real and personal property of the Corporation and the Common Property;

Capital Replacement Reserve Fund means the fund created for the purposes as outlined in Bylaw 14(k);

Capital Replacement Reserve Fund means the fund created for the purposes specified in rule 12 (J)

Capital Replacement Reserve Fund means a fund established in accordance with the provisions of the Act, to be used for major renovations of any portion of the Units for which the Corporation is responsible, the real and personal property of the Corporation and the Common Property;

Capital Replacement Reserve Fund means the fund created for the purposes as outlined in Section 38 of the Act and By-law 14(j). The fund is an asset of the Corporation;