Exit Entitlement definition

Exit Entitlement means the Ingoing Contribution, less the amount to be paid by the Resident to the Scheme Operator pursuant to Clause 3.5.

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Exit Entitlement means any amount to be paid to You on the Exit Entitlement Date.

Exit Entitlement means the amount of money that is, under a residence contract, payable by the operator of a retirement village on a person ceasing to reside in the retirement village or when certain conditions specified in the contract are fulfilled and includes an exit entitlement payable in circumstances referred to in section 27(2)(b);

Examples of Exit Entitlement in a sentence

• The Resident must, prior to or at the time of the payment by the Scheme Operator of the Exit Entitlement, deliver to the Scheme Operator.

• Costs may be recouped directly from the Residents involved at the time of the dispute or by deducting from the Exit Entitlement upon departure.

• Any such variation will not affect the method of calculating the Resident’s Exit Entitlement.

• Despite clause 5.12, the Resident’s obligation to pay the General Services Charge will cease, subject to section 104 of the Act, on the date the Resident becomes entitled to be paid the Exit Entitlement.

• The Resident agrees to pay the Termination Administration Costs of $250.00 to the Scheme Operator when the Scheme Operator pays the Resident the Exit Entitlement under clause 15.3.

• Subject to clauses 15 and 21, the Scheme Operator must pay the Exit Entitlement to the Resident on or before the Exit Entitlement Date.

• Subject to Clauses 4.1 and 19.1 the Scheme Operator will, within fourteen (14) days from the day upon which it receives the Ingoing Contribution from a New Resident on the sale of the right to reside in the Accommodation Unit, pay to the Resident the Resident’s Exit Entitlement.

• This payment must be made when the Scheme Operator pays the Resident the Exit Entitlement under clause 15.3.

More Definitions of Exit Entitlement

Exit Entitlement means the amount of money payable to the Resident on termination of this Residence Contract calculated in accordance with Clause 16.1 of this Agreement.

Exit Entitlement means the net amount payable by the Scheme Operator to the Resident on the Exit Entitlement Date, calculated in accordance with clause 13.2;

Exit Entitlement means the amount payable to the Resident by the Scheme Operator on the Exit Entitlement Date calculated in accordance with clause 20.2.

Exit Entitlement means any amount to be paid to You on the Exit Entitlement Date and which is calculated in accordance with clause 18.