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 must be shown on the pro forma and increase at a rate of four percent (4%) per year.
Replacement reserves are required for all tax credit applications.
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 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 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 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, 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 four 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.
Replacement reserves means, for any period and with respect to any Real Property Asset, an amount equal to (a) $0.60 times, (b) a fraction, the ------ numerator of which is the number of days of such period, and the denominator of which is 365 times the aggregate gross leasable square feet of such Real ----- Property Asset. If the term Replacement Reserves is used without reference to any specific Real Property Asset, then it shall be determined on an aggregate basis with respect to all Real Property Assets and a proportionate share of all real property of all Unconsolidated Affiliates.
Replacement reserves means, with respect to any Person for any period, an allowance for a normal level of recurring capital expenditures and lease commissions equal to the following: (a) for any Completed Properties (as determined from the date of the issuance of the final certificate of occupancy for such Completed Property) that have been completed for a period of five years or less, an amount equal to $150 multiplied by (i) in the case such Completed Property is owned by the Borrower or a Subsidiary of the Borrower, the number of apartment units on such Completed Property and (ii) in the case such Completed Property is owned by an Unconsolidated Joint Venture of the Borrower, the product of (x) the Borrower's pro-rata beneficial interest in such Unconsolidated Joint Venture and (y) the number of apartment units on such Completed Property and (b) for Completed Properties (as determined from the date of the issuance of the final certificate of occupancy for such Completed Property) that have been completed for a period of greater than 5 years, an amount equal to $200 multiplied by (i) in the case such Completed Property is owned by the Borrower or a Subsidiary of the Borrower, the number of apartment units on such Completed Property and (ii) in the case such Completed Property is owned by an Unconsolidated Joint Venture of the Borrower, the product of (x) Borrower's pro-rata beneficial interest in such unconsolidated Affiliate and (y) the number of apartment units on such Completed Property.