How is Application of Funds defined in a legal contract?
- Application of Funds means the process by which funds, such as rents and other income generated from any premises or properties, are first applied to various types of dues such as taxes, mortgage payments, operating costs, administrative charges, rent, and to cover any deficiency in a tenant’s rent or other charges.
Seen in 1 SEC filing - Application of Funds means the total amount used in various areas such as acquisition of land and buildings, construction costs, operating costs, legal and organizational fees, insurance, and development fees.
Seen in 1 SEC filing - Application of Funds means the replacement of a specified section in a document with a new one.
Seen in 1 SEC filing
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for ‘Definitions of application of funds’ yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Application of Funds means allocation of financial resources to different areas such as taxes, loans, operating expenditures and deficiencies in rent.
Relevant Contract Types
Relevant Circumstances
- Large scale commercial property leasing
- Financial transactions including loans and mortgages
- Any situation that involves management and allocation of funds
Relevant Sectors
Genie Definition 2
- Application of Funds means replacing a specific section in a document with a new one.
Relevant Contract Types
Relevant Circumstances
- Restructuring deals involving mergers or acquisitions
- Amendment of partnership agreements
Relevant Sectors
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Application of Funds means allocation of financial resources to different areas such as taxes, loans, operating expenditures and deficiencies in rent.
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