Ingoing Contribution definition

Ingoing Contribution means the Loan Amount paid by the Resident to the Scheme Operator for the right to reside in the Village.

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Ingoing Contribution means the amount to be loaned by the Resident to the Scheme Operator under the Loan Agreement in consideration for this grant of this Contract.

Ingoing Contribution means a payment that is made with a view to securing, by itself or with other acts, a right (whether enforceable or not) to reside in a retirement village but does not include a payment

Examples of Ingoing Contribution in a sentence

• Subject to clause 2.2, and in consideration of payment of the Ingoing Contribution by the Resident, the Scheme Operator grants to the Resident the exclusive right to reside in the Accommodation Unit upon the terms contained in this Contract.

• The Costs of Selling will be shared by the Scheme Operator and the Resident in the same proportion as they are to share the Gross Ingoing Contribution on the sale of the right to reside in the Accommodation Unit.

• On or before the Commencement Date, the Resident must loan the Ingoing Contribution by way of an interest free loan to the Scheme Operator less any amount previously paid by the Resident to the Scheme Operator by way of deposit or reservation fee.

• The Exit Fee shall be an amount calculated as a percentage of the Ingoing Contribution paid by the Resident depending on the period of time that has elapsed from the Commencement Date to the Termination Date (“time elapsed”).

• The Resident’s share is calculated in accordance with the following formula, (A – B) / C, where: A = the Resident’s Ingoing Contribution; B = the Resident’s Exit Fee; and C = the ingoing contribution payable by the next resident of the Accommodation Apartment.

More Definitions of Ingoing Contribution

Ingoing Contribution means the amount specified in Item 3 of the Reference Schedule, being the amount, which You advance to Us.

Ingoing Contribution means the amount specified in item 7 of Schedule One.

Ingoing Contribution means the amount specified in Item 10 which is payable by the Resident to the Scheme Operator for the granting of the Licence;

Ingoing Contribution means a payment (however described) made by or on behalf of a person in consideration for, or in contemplation of, the person becoming a resident in a retirement village (but does not include a recurrent charge, an exit fee, a special levy or any other payment excluded by the regulations from the ambit of this definition);

Ingoing Contribution means the amount identified in Item A of the Financial Terms. Initial Portion of Ingoing Contribution means the amount identified in the Additional Key Terms.

Ingoing Contribution means the amount set out in Item 4 of the Schedule, which is payable by the Resident to the Scheme Operator.

Ingoing Contribution means the amount set out in Item 6 of the Items Schedule, which is payable by the Resident to the Scheme Operator by way of an interest free loan.