Base Case. Applying the Equity Value formula to the “Base Case” summarized above, and assuming that (i) there is no Entity Specific Debt (see Example 3 for a discussion of Entity Specific Debt) and (ii) the mortgage debt on each of the five properties does not change between December 31 and Closing and that there are no assumption or prepayment fees associated with assuming or prepaying those mortgages at the Closing, the Equity Value of each of the five properties is as set forth below: Total Equity Value 500
Base Case. Within a reasonable time after written request from Interconnection Customer, IPA shall provide Interconnection Customer with the Base Case, subject to the confidentiality provisions of Article 13. IPA may require that Interconnection Customer sign a confidentiality agreement before the release of any such information.
Base Case. If the Concessionaire pays the minimum amount due each year i.e. in 10 equal annual instalments) Anniversary of the Appointed Date Instalment of Annuity paid Instalment of Annuity payable with interest Say the Annuity is INR 30 Cr, the amount payable shall be: Case 2 (An illustrative case where the Concessionaire choses to pay more than the minimum due instalments each year i.e. the Concessionaire finishes payment of Annuity earlier than 10 years). Anniversary of the Appointed Date Instalment of Annuity paid Instalment of Annuity payable with interest Say the Annuity is INR 30 Cr, the amount payable shall be:
Base Case. Forestry is the largest private sector employer in the Plan Area. Based on 1996 Census data, the Ministry of Finance and Corporate Relations (MFCR) estimates that forestry accounted for 26% of the personal income of residents of the Mid-Coast Forest District, where over 90% of the Plan Area population resides. The Plan Area covers a Gross Land Base (GLB) of 4.8 million hectares, including the Mid-Coast TSA, the mainland portions of the Kingcome and Strathcona TSAs, about 8% of the North Coast TSA, and portions of several TFLs. About 10.8% of Plan Area is in existing fully/partly Protected Areas (including the Hakai and Fiordland Recreation Areas, which allow mining but not logging, and parts of Tweedsmuir Park). About 551,000 ha. (11.9% of the Plan Area) is designated by the Ministry of Forests (MoF) as “Timber Harvesting Land Base” (THLB), or the area that is available and deemed economically feasible for timber harvesting in the short and long term. The THLB is much smaller than the GLB area because much of the Plan Area is non-forested/inoperable (i.e., mainly rock, ice, alpine, steep terrain, problem forest types, etc.), has “net- downs” for environmental values (e.g., existing Parks, riparian reserves, etc.), and since some land is non- Crown. However, as economics/technology improves, the THLB could expand into currently inoperable areas. On the other hand, some parts of the THLB are only marginally, or not economic at this time given current harvesting costs and market prices. This is an important issue, especially in the Mid-Coast Timber Supply Areas, where MoF estimates that about 66% of the THLB is hemlock/balsam leading stands (see Map 2), the markets/prices for which have been depressed since the late 1990s (see Figure 1). MoF forest cover constraints, such as cutblock adjacency, Forest Practices Code and landscape level biodiversity, apply to all TSAs and TFLs within the Plan Area. There are additional requirements that may be applied to protect specific areas, values or forest types, such as scenic areas / visual quality objectives, community watersheds, deer winter range, and grizzly bear habitat. Appendix B provides a GIS area analysis breakdown of the Plan Area by these zone categories, although the Grizzly, Deer, and Community Watershed zones are subsumed under “General Management.” The total current Annual Allowable Cut (AAC) of the Central Coast Plan Area is about 3.8 million m3/yr., excluding an average annual harvest on “Timber Licens...
Base Case. General Considerations
Base Case. As of the 1996 Census, fishing-related activities provided about 8% of the personal incomes of Plan Area residents Also, First Nations residing in the Plan Area have historically depended heavily on a wide range of salmon and non-salmon fisheries for food, social, economic, and ceremonial purposes, and are also major local participants in the commercial fishing industry within the Plan Area. As of 1997, Plan Area residents held 113 commercial salmon “A” and “N” licenses and 13 xxxxxxx spawn-on-kelp “J” licenses. Thirteen additional commercial salmon “F” licenses were held communally by resident First Nations in the Plan Area. These licenses generated an estimated 300 known seasonal jobs, with about two thirds of these in salmon and one third in xxxxxxx spawn-on-kelp. The majority of license holders live in the northern portion of the Plan Area, specifically in Bella Bella. There are several small processing facilities in the Plan Area, but most of the catch is processed elsewhere. Due to consolidation within the processing sector, declining prices, declining salmon catch levels, and DFO’s fleet reduction program, employment in this industry has fallen significantly in recent years throughout coastal BC. A recent report for the BC Job Protection Commission identified the Central Coast as being within the top 15 impacted areas in the province. First Nations groups within the Plan Area were particularly affected by the reductions. As a result of the continuing decline in populations of some species of BC salmon, on June 19, 1998 the federal Minister of Fisheries and Oceans announced a Coho Recovery Plan and the 1998 Salmon Management Plan. This plan will require highly selective fishing methods and “catch and release” policies for coho specifically. To ease transition, the Pacific Fisheries Adjustment and Restructuring Program has committed $400 million to help rebuild the resource, restructure the salmon fishery and assist people and communities to adjust to the dramatic changes that are occurring. The short term outlook for the salmon industry of the province as a whole and the Plan Area region is generally poor from both a harvest level and price perspective. Conservation concerns for weaker stocks (e.g., coho and chinook) and changes in the ocean environment likely will limit overall salmon catches to relatively low levels for the foreseeable future. Key management concerns for salmon include addressing the common property resource problem and improving s...
Base Case. The industry is comprised of two sectors: (i) farmed finfish (Atlantic, chinook, and coho)and (ii) farmed shellfish (Pacific oysters, Manila clams, and Japanese scallops), which culture, process, and market finfish and shellfish into a variety of products. The most recent data indicates there are 68 aquaculture tenures involving four companies and one First Nation in the Plan Area. The number of operating sites is somewhat less than the number of tenures for various reasons, including unsuitable locations and standard fallowing practices. Of the actual operations, most produce salmon and several produce shellfish. Only two of the region’s aquaculture facilities are located in the northern portion of the Plan Area, although two additional farm applications are pending for relocation from the south to the north coast area. There is also considerable biophysical capability for future potential and the industry has expressed interest in a number of other areas within the Plan Area. Based on a recent study of the industry34 it is estimated that almost 50% of provincial, farmed salmon production come from Plan Area operations. Based on this share, Central Coast Plan Area operations are estimated to support an estimated 540 Person-Years (PYs) of employment (or an average of 10 per operation). Most of these jobs are year round, but only about 5% are permanent Plan Area residents.35 Therefore, most of the income earned by these workers would be spent in mid and northern Vancouver Island communities where the vast majority reside. Salmon farming production has increased significantly since its beginnings in the 1970’s, and in 1998, surpassed the wild salmon catch of 30,200 tonnes for the first time. During this period, there has also been much rationalization in the industry to improve efficiency in the face of lower salmon prices, cost issues, some environmentally inappropriate sites. Some First Nations have entered joint ventures for salmon farming while others remain opposed to this activity at this time.36 There are two salmon farms located near Klemtu that is joint ventured between the Kitasoo Nation and industry. Some First Nations are also providing contracted services to certain operations, and discussions are ongoing to broaden their participation in the industry in the Plan Area and elsewhere. The number of farms peaked in the mid-1990s, after the provincial government declared a moratorium on tenures due to concerns about potential environmental impacts. ...
Base Case. Minerals
Base Case. As of the 1996 Census, the population of the vast Central Coast Plan Area was a relatively low 4,611. None of the communities in the Plan Area are incorporated municipalities. The main population centres are in the Bella Coola valley (i.e, the Bella Coola, Hagensborg, Firvale, and Stuie areas) where about 2400 aboriginal and non-aboriginal residents reside and in Waglisla (Bella Bella) where there are about 1200 on-reserve Heiltsuk inhabitants. There were some population declines in the Plan Area in the 1960s and 1970s due in large part to the number of individuals who left Ocean Falls after the closing of its pulp mill. From 1986-96, however, the population of the Plan Area grew strongly due to a number of factors, including the in-migration of residents and a relatively high birth rate, although economic challenges since 1996 have slowed growth considerably. An estimated 2,455, or 53% of the 4,611 resident population in 1996 were members of First Nations living on-reserve in the Plan Area. There are nine First Nations with residents in the Plan Area, four in the northern portion and five in the southern portion, including the following: the Heiltsuk (Xxxxx Xxxxx), Kitasoo (Klemtu), Nuxalk (Bella Coola), Oweekeno (Rivers Inlet), Kwicksutaineuk (Gilford Island), Tsawataineuk (Kingcome Inlet), Kwa-Wa-Aineuk (Hopetown), Da’naxda’xw and the Tlatlasikwala (currently “repatriating” their communities at New Vancouver and Hope Island respectively).56 There are also a number of First Nations whose members now reside primarily outside, but have traditional territories within, the Plan Area. These First Nations include members of the Kwakiutl District Council (KDC), the Musgamagw-Tsawataineuk Tribal Council (MTTC), the Gitga’at (Xxxxxxx Bay), the Homalco, the Tlowitsis-Mumtagila, and the Haisla. While relatively low numbers of KDC/MTTC currently live in the Plan Area, many of those residing outside, mainly on northern Vancouver Island, have a strong attachment to these lands. In some cases, First Nations (e.g., the Gwa- Sala-Nakwaxda’xa in the 1960s) were in fact relocated by the federal government from the Plan Area to Vancouver Island. Total resident and non-resident First Nations population with traditional territory in the Plan Area is reported to total over 10,000. Unemployment in the Plan Area and on north / mid-Vancouver Island, the latter being economically linked to Plan Area resources, is much higher than the provincial average. Within the Plan Area, the B...
Base Case. Call For Nominations: May 2016 Call For PQ (Pre-Qualifications): June 2016 Call For Tender: August 2016 Award to Supplier: November 2016 Contract Signature: December 2016 As an alternative case, the ITER Organization may combine the process of Pre-Qualification and Call for Tender and the tentative schedule will be as follows. Call For Nominations: May 2016 Call For Tender including PQ: June 2016 Award to Supplier: October 2016 Contract Signature: November 2016
