Annual Rates Income definition

Annual Rates Income means, in relation to an Issuer that is a Local Authority and for a financial year, an amount equal to the total revenue from any funding mechanism authorised by the Local Government (Rating) Act 2002 together with any revenue received by that Issuer from other Local Authorities for services provided by that Issuer for which those other Local Authorities rate and in each case as shown in the Financial Statements of that Issuer for that financial year, provided that if such Financial Statements are with respect to a period of less than 12 months, then such amount shall be annualised (so as to reflect a period of 12 months), and the annualised amount shall be the Annual Rates Income.
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Annual Rates Income means, in relation to an Issuer that is a Local Authority and for a financial year, an amount equal to the total revenue from any funding mechanism authorised by the Local Government (Rating) Act 2002 together with any revenue received by that Issuer from other Local Authorities for services provided by that Issuer for which those other Local Authorities rate and in each case as shown in the Financial Statements of that Issuer
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Examples of Annual Rates Income in a sentence

  • In the event of any dispute or uncertainty as to the Annual Rates Income of a Guarantor, the Security Trustee shall determine the amount of that Annual Rates Income, and provided the Security Trustee acts in good faith, that determination shall be binding on all the parties.

  • A dedicated account manager shall be assigned as part of this agreement who will meet monthly with the Director of Facilities and shall be available during normal business hours.

  • Notification of the Annual Rates Income in the Financial Statements of the Additional Guarantor in the most recent financial year for which all Guarantors have prepared and adopted an annual report in accordance with sections 98 and 99 of the Act.

  • We further advise that your Additional Relevant Proportion is [●]%, calculated as: Annual Rates Income for the Relevant Financial Year Aggregate Annual Rates Income of all Non- Defaulting Guarantors for the Relevant Financial Year 4.

  • Guarantee risk sharedWhile all Guaranteeing Local Authorities are jointly and severally liable for the entire LGFA debt guaranteed, claims against individual councils will initially be based on their proportion of the total Annual Rates Income of all Guaranteeing Local Authorities.

  • Annual Rates Income is defined as the amount equal to the total revenue from any funding mechanism authorised by the Local Government (Rating) Xxx 0000 together with any revenue received from other local authorities for services provided (and for which the other local authorities rate).

  • Financial covenant Lending policy covenants Foundation policy covenants Net Debt / Total Revenue <175% <250% Net Interest / Total Revenue <20% <20% Net Interest / Annual Rates Income <25% <30% Liquidity >110% >110% Total Revenue is defined as cash earnings from rates, grants and subsidies, user charges, interest, dividends, financial and other revenue and excludes non government capital contributions (e.g. developer contributions and vested assets).

  • Each Guarantor shall include its Annual Rates Income for the relevant financial year in the audited financial statements (or notes thereto) included in each annual report referred to in this clause2.12, as a separate identifiable amount.

  • Annual Rates Income is defined as the total revenue from any funding mechanism authorised by the Local Government (Rating) Act 2002 (including metered water charges).

  • Kershaw and Piccini write of the creative and performing arts disciplines being “at a watershed, the negotiation of which might well determine their place and purpose in universities for decades to come”.5 The ‘practical turn’, as I will call it, resides in the claims of creative work to be considered as a valid research process and/or a research outcome.

Related to Annual Rates Income

  • Total Revenue bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;

  • Adjusted EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: