Definitions for "Reserve fund"
A fund created from a portion of the Condominium Fees paid by all unit owners, set aside and managed by the Condominium Corporation to pay for major repairs or the replacement of common property elements, where such repair or replacement is not part of the regular ongoing annual maintenance program. Properly called a Capital Replacement Reserve Fund, it is usually held in secure liquid investments such as guaranteed investment certificates, bonds, mortgage investment funds or money market funds and is not intended for regular or annually recurring maintenance expenses such as trash disposal or snow removal.
funds taken out of earnings to provide for anticipated future payments
a special fund set aside for the sole purpose of financing major repairs and/or replacement of the common elements and assets of a condominium corporation
a good passive vehicle in place for any donation directed to the library which requires a charitable receipt
an amount set aside by the Board each year for financing assistance of an urgent nature requested after the Board has approved the Regular Programme for the year in question.
Assets set aside for the purpose of ensuring that the General Board can pay its obligations to its participants. For example, the reserve helps the General Board pay the base interest credit during periods when financial markets produce an insufficient rate of return.
money set aside by the co-op for special circumstances and contingencies.
Keywords:  refusal, sales, contract, first, right
Right of first refusal Sales contract
Account used to hold back a part of the excess spread as a form of credit enhancement for the transaction.