MUNICIPAL RATES Sample Clauses

MUNICIPAL RATES. (1) Municipal Rates payable to the City in relation to the Development Area will be amounts determined in accordance with the succeeding provisions of this clause. (2) Subject to subclause (3) Municipal Rates for the Rating Year in which Project Completion occurs will be the lesser of — (a) $700,000.00; and (b) the amount which would have been assessed for Municipal Rates on the basis of a rate of .053692 of the GRV. (3) If Project Completion occurs otherwise than on the first day of a Rating Year, Municipal Rates payable in respect of the Rating Year in which Project Completion occurs shall be the aggregate of — (a) Municipal Rates which but for the provisions of this Agreement are payable in respect of that Rating Year; (b) that proportion of the amount by which the Base Amount exceeds the amount referred to in paragraph (a) as is the same as the proportion which the number of days from Project Completion to the end of the then current Rating Year bears to 365. (4) (a) In the 19 Rating Years following the Rating Year in which Project Completion occurs, the Municipal Rates payable shall be the amount payable in the preceding Rating Year increased by the same percentage as the annual percentage increase in the CPI during the immediately preceding Rating Year increased by the lesser of — (i) the same percentage of the annual percentage increase in the CPI during the immediately preceding Rating Year; or (ii) the percentage increase in the City’s rates for that year; assuming the Municipal Rates payable in the Rating Year in which Project Completion occurred were the Base Amount;
Sample 1Sample 2Sample 3See All (25)
AutoNDA by SimpleDocs
MUNICIPAL RATES. 15.1 In addition to the levies payable in terms of paragraph 8.3 of this schedule, the Purchaser shall furthermore be liable to make a pro- rata contribution, calculated in accordance with the Participation Quota of the Purchaser’s unit, towards municipal rates and taxes. 15.2 The actual amount payable by the Purchaser in terms of paragraph 15.1 herein above, shall increase immediately upon an increase in the amount levied by the municipality. 15.3 Notice of any increase in the amount payable in terms hereof shall be given in writing to the Purchaser by the Management Association of KINGSHURST. between and (the “purchaser”) and (the “previous holder of the right of occupation”) Relating to the purchase of a right of occupation, as defined hereunder, in respect of the KINGSHURST as defined hereunder. 1. Introduction 16 2. Definitions 16 3. Right of occupation 21 4. Consumer Protection Act 68 of 2008 21 5. Nomination 23 6. Term 23 7. Consideration 24 8. Management 25 9. Powers and duties of management association 25 10. Management liaison committee 26 11. Qualifications for occupation of a unit 28 12. Levies 29 13. Health care 29 14. Obligations of occupant 30
Sample 1Sample 2Sample 3See All (4)
MUNICIPAL RATES. 8.1 In addition to the levies payable in terms of paragraph 5.3 of this schedule, the Purchaser shall furthermore be liable to make a pro-rata contribution, calculated in accordance with the Participation Quota of the Purchaser’s unit, towards municipal rates and taxes. 8.2 The actual amount payable by the Purchaser in terms of paragraph 9.1 herein above, shall increase immediately upon an increase in the amount levied by the municipality. 8.3 Notice of any increase in the amount payable in terms hereof shall be given in writing to the Purchaser by the Management Association of KINGSHURST. between and (the “purchaser”) Relating to the purchase of a right of occupation, as defined hereunder, in respect of the KINGSHURST as defined hereunder. PAGE 1. Introduction 9 2. Definitions 9 3. Right of occupation 13 4. Nomination 13 5. Term 14 6. Consideration 14 7. Management 15 8. Powers and duties of management association 17 9. Management Liaison Committee 18 10. Qualifications for occupation of a unit 20 11. Levies 20 12. Health care 21 13. Obligations of occupant 22
Sample 1

Related to MUNICIPAL RATES

  • Interest Rates All outstanding Term Loans to the Borrower shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Base Rate or Adjusted Term SOFR plus the Applicable Margin, but not to exceed the Maximum Rate. If at any time Term Loans are outstanding with respect to which the Borrower has not delivered to the Agent a notice specifying the basis for determining the interest rate applicable thereto in accordance herewith, those Term Loans shall be treated as Base Rate Loans until notice to the contrary has been given to the Agent in accordance with this Agreement and such notice has become effective. Except as otherwise provided herein, the Term Loans shall bear interest as follows: (i) For all Base Rate Loans, at a fluctuating per annum rate equal to the Base Rate plus the Applicable Margin; and (ii) For all SOFR Rate Loans, at a fluctuating per annum rate equal to Adjusted Term SOFR plus the Applicable Margin. Each change in the Base Rate (or any component thereof) shall be reflected in the interest rate applicable to Base Rate Loans as of the effective date of such change. All computations of interest for Base Rate Loans when the Base Rate is determined by the “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). On the last Business Day of each calendar quarter hereafter and on the Termination Date, the Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest accrued from the last Business Day of the preceding calendar quarter to the last Business Day of such calendar quarter (or accrued to the Termination Date in the case of a payment on the Termination Date) on all Base Rate Loans in arrears. The Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest on all SOFR Rate Loans in arrears on each SOFR Interest Payment Date.

  • Overhead Rates The Engineer shall use the provisional overhead rate indicated in Attachment E. If a periodic escalation of the provisional overhead rate is specified in Attachment E, the effective date of the revised provisional overhead rate must be included. For lump sum contracts, the overhead rate remains unchanged for the entire contract period.

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!