CHANGES IN RATEABLE VALUE Sample Clauses

CHANGES IN RATEABLE VALUE. 4.1 Where the Council is notified of a change in the Rateable Value of a Hereditament by the VOA by way of a schedule update (an RV Change) then the Council will calculate the adjustment to the BID Levy pursuant to the later of the following dates: 4.1.1 the effective date of such change; or 4.1.2 1 April of the Chargeable Period in which the relevant schedule update is issued. 4.2 Where the Council is notified of a change in the Rateable Value of a Hereditament by the Valuation Officer by way of a schedule update and such change relates to: (i) a new entry in a Rating List (whether as the result of a new Hereditament or the split or merger of previously existing Hereditament(s)); or (ii) a reduction in the Rateable Value to £0 or £1; or (iii) a deletion of the Hereditament from the Rating List, Then the Council will calculate the adjustment to the BID Levy pursuant to the effective date of such change. 4.3 The Council will only issue refunds of the BID Levy in respect of an RV Change for the Chargeable Period in which the RV Change occurs.
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CHANGES IN RATEABLE VALUE. 4.1 Where the Council is notified of a change in the Rateable Value of a Hereditament by the VOA by way of a schedule update (an RV Change) then the Council will calculate the adjustment to the BID Levy pursuant to the later of the following dates: 4.1.1 the Effective Date of such change; or 4.1.2 1 April of the Financial Year in which the relevant schedule update is issued. 4.2 Where the Council is notified of a change in the Rateable Value of a Hereditament by the Valuation Officer by way of a schedule update and such change relates to: 4.2.1 a new entry in a Rating List (whether as the result of a new Hereditament or the split or merger of previously existing Hereditament(s)); or 4.2.2 a reduction in the Rateable Value to £0 or £1; or 4.2.3 a increase in the Rateable Value 4.2.4 a deletion of the Hereditament from the Rating List, then the Council will calculate the adjustment to the BID Xxxx pursuant to the Effective Date of such change. 4.3 The Council will only issue refunds of the BID Xxxx in respect of an RV Change for the Chargeable Period in which the RV Change occurs. There will be no refunds in respect of the previous Chargeable Period except where clause 4.2 applies 5.1 Liability for the BID Xxxx will fall on the Occupier of the Hereditament on the relevant day. 5.2 If a Hereditament is Unoccupied, the liability for the daily BID Levy will fall on the organisation / person Entitled to Possession of the Hereditament on the relevant day. 6 BID LEVY ALLOWANCES 6.1 A BID Levy Payer will not receive an allowance towards the BID Xxxx in relation to an Unoccupied Hereditament. 6.2 A BID Levy Payer will not receive a three months void exemption or any other Unoccupied rate exemption in relation to Unoccupied Hereditaments or Hereditaments that become Unoccupied during the BID Term, unless such Unoccupied Hereditament is a Listed Building in which case it will receive full exemption from the BID Levy. 6.3 If on a particular day there is no NDR Payer in existence in respect of a Hereditament then no BID Xxxx is payable on that day in respect of that Hereditament. 6.4 If on a particular day a BID Levy Payer is in receipt of NDR Mandatory Relief in respect of a Hereditament then the BID Levy for that day will be reduced by 80% and such 80% allowance will be applied after first applying any other applicable allowances. 6.5 There will be no allowances applicable to the BID Levy corresponding to NDR Discretionary Relief, NDR Hardship Relief, NDR (Section 44A...
Sample 1
CHANGES IN RATEABLE VALUE. 4.1 Where the Lead Council or Council is notified of a change in the Rateable Value of a Hereditament by the VOA by way of a schedule update (an RV Change) then the Lead Council or Council will calculate the adjustment to the BID Levy pursuant to the later of the following dates: 4.1.1 the Effective Date of such change; or 4.1.2 1 April of the Financial Year in which the relevant schedule update is issued. 4.2 Where the Lead Council or Council is notified of a change in the Rateable Value of a Hereditament by the Valuation Officer by way of a schedule update and such change relates to: 4.2.1 a new entry in a Rating List (whether as the result of a new Hereditament or the split or merger of previously existing Hereditament(s)); or 4.2.2 a reduction in the Rateable Value to £0 or £1; or 4.2.3 a deletion of the Hereditament from the Rating List, then the Lead Council or Council, as appropriate, will calculate the adjustment to the BID Levy pursuant to the Effective Date of such change 4.3 The Lead Council or Council will only issue refunds of the BID Xxxx in respect of an RV Change for the Chargeable Period in which the RV Change occurs. There will be no refunds in respect of the previous Chargeable Period except where clause 4.2 applies.
Sample 1

Related to CHANGES IN RATEABLE VALUE

  • Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower’s method of determining fiscal quarters.

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the Advance Rates of the Value of each Portfolio Investment (excluding any Cash Collateral held by the Administrative Agent pursuant to Section 2.05(k) or the last paragraph of Section 2.09(a)); provided that: (a) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in a consolidated group of corporations or other entities (collectively, a “Consolidated Group”), in accordance with GAAP, that exceeds 10% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 50% of the Advance Rate otherwise applicable; provided that, with respect to the Portfolio Investments in a single Consolidated Group designated by the Borrower to the Administrative Agent such 10% figure shall be increased to 12.5%; (b) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments of all issuers in a Consolidated Group exceeding 20% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; (c) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in any single Industry Classification Group that exceeds 20% of Shareholders’ Equity of the Borrower (which for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; provided that, with respect to the Portfolio Investments in a single Industry Classification Group from time to time designated by the Borrower to the Administrative Agent such 20% figure shall be increased to 30% and, accordingly, only to the extent that the Value for such single Industry Classification Group exceeds 30% of the Shareholders’ Equity shall the Advance Rate applicable to such excess Value be 0%; (d) no Portfolio Investment may be included in the Borrowing Base unless the Collateral Agent maintains a first priority, perfected Lien (subject to Permitted Liens) on such Portfolio Investment and such Portfolio Investment has been Delivered (as such term is used in and to the extent required under Section 7.01(a) of the Guarantee and Security Agreement) to the Collateral Agent, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein; (e) the portion of the Borrowing Base attributable to Performing Non-Cash Pay High Yield Securities, Performing Non-Cash Pay Mezzanine Investments, Equity Interests and Non-Performing Portfolio Investments shall not exceed 20%; (f) the portion of the Borrowing Base attributable to Equity Interests shall not exceed 10% (it being understood that in no event shall Equity Interests of Financing Subsidiaries be included in the Borrowing Base); (g) the portion of the Borrowing Base attributable to Non-Performing Portfolio Investments shall not exceed 15% and the portion of the Borrowing Base attributable to Portfolio Investments that were Non-Performing Portfolio Investments at the time such Portfolio Investments were acquired shall not exceed 5%; and (h) the portion of the Borrowing Base attributable to Portfolio Investments invested outside the United States, Canada, the United Kingdom, Australia, Germany, France, Belgium, the Netherlands, Luxembourg, Switzerland, Denmark, Finland, Norway and Sweden shall not exceed 5% without the consent of the Administrative Agent. As used herein, the following terms have the following meanings:

  • Changes in Fiscal Year Make any change in its fiscal year; provided, however, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

  • Amount Payable for Timber Current Contract Rates and Required Deposits in effect when the timber is Scaled shall be applied to the Scaled volume to deter- mine the amount Purchaser shall pay.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Limitation on Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower's method of determining fiscal quarters.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Borrowing Base Agent shall have received evidence from Borrowers that the aggregate amount of Eligible Receivables and Eligible Inventory is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;

  • Adjustments Upon Changes in Capitalization As used herein, the term "Adjustment Event" means an event pursuant to which the outstanding shares of the Company are increased, decreased or changed into, or exchanged for a different number or kind of shares or securities, without receipt of consideration by the Company, through reorganization, merger, recapitalization, reclassification, stock split, reverse stock split, stock dividend, stock consolidation or otherwise. The term "Adjustment Event" shall also mean to include: (i) any issuance by the Company of the Company's securities (excluding securities issued to the Company's employees, directors, consultants and others similarly situtated) below fair market value for such securities as determined at the time of issuance; and (ii) any issuance at a price below the purchase price per Share for the common stock underlying the Options, as adjusted. Upon the occurrence of an Adjustment Event, (i) appropriate and proportionate adjustments shall be made to the number and kind and exercise price for the shares subject to the Options, and (ii) appropriate amendments to this Agreement shall be executed by the Company and the Optionee if the Board of Directors in good faith determines that such an amendment is necessary or desirable to reflect such adjustments. If determined by the Board of Directors to be appropriate, in the event of an Adjustment Event which involves the substitution of securities of a corporation other than the Company, the Board of Directors shall make arrangements for the assumptions by such other corporation of the Options. Notwithstanding the foregoing, any such adjustment to the Options shall be made without change in the total exercise price applicable to the unexercised portion of the Options, but with an appropriate adjustment to the number of shares, kind of shares and exercise price for each share subject to the Options. The good faith determination by the Board of Directors as to what adjustments, amendments or arrangements shall be made pursuant to this Section, and the extent thereof, shall be final and conclusive, provided that the Options herein are adjusted in a manner that is no less favorable than the manner of adjustment used as to any other options issued by the Company to its employees, directors, consultants or in any transaction. No fractional Shares shall be issued on account of any such adjustment or arrangement.

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