Working Fund definition

Working Fund means the fund referred to in section 8.3.
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Working Fund means the account to which all investment incomes, premium incomes, and all other incomes shall be credited and against which all operating costs and other expenses, including claims paid, shall be debited.
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Examples of Working Fund in a sentence

  • Ongoing Working Fund Contributions are not advance payments of Individual Home Assessments and shall have no effect on future Individual Home Assessments, nor will they be held in reserve.

  • To ensure that the Association will have sufficient cash available to pay for start-up expenses, Operating Expenses and other expenses, Declarant may from time to time advance to the Association the Initial Working Fund Contribution applicable to any Lot(s) prior to the time legal title to such Lot(s) is conveyed to the Owner(s) thereof.

  • Ongoing Working Fund Contributions may also be used to offset Operating Expenses during the time Declarant is in control of the Board.

  • Each Grantor agrees that each such account (other than Working Fund Accounts) shall be under the sole dominion and control of the Administrative Agent.

  • Initial Working Fund Contributions (whether paid by Owner or advanced by Declarant) may also be used to offset Operating Expenses during the time Declarant is in control of the Board.

  • Each such account (other than Working Fund Accounts) shall be in the name of the Administrative Agent (but may also have words referring to the Foamex or another Grantor and the account's purpose).

  • In the event Declarant advances the Initial Working Fund Contribution applicable to any Lot, then, at the time legal title to such Lot is conveyed to the Owner thereof, the Initial Working Fund Contribution to be paid by such Owner to the Association pursuant to this Section 7 shall be paid directly to Declarant in reimbursement of the advance, instead of to the Association.

  • Each Owner who purchases a Lot with a Home thereon from Declarant shall pay to the Association at the time legal title is conveyed to such Owner by Declarant, an “Initial Working Fund Contribution.” The Initial Working Fund Contribution shall be Two Hundred Fifty and No/Dollars ($250.00).

  • Initial Working Fund Contributions are not advance payments of Individual Home Assessments and shall have no effect on future Individual Home Assessments, nor will they be held in reserve.

  • Within 30 days after the research project expires, the remaining unprocessed receipts are summarized and turned over to the Working Fund section.