Exempted Capital Asset definition

Exempted Capital Asset means a municipal capital asset which is exempted by section 14(6) or 90(6) of the MFMA from the other provisions of that section.
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Exempted Capital Asset means a municipal capital asset which is exempted by 14(6) or 90(6) of the Municipal Finance Management Act, 2003 (MFMA) from the other provisions of that section;
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Exempted Capital Asset means a municipal capital asset which is exempted by
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More Definitions of Exempted Capital Asset

Exempted Capital Asset means a Capital Asset which exempted by Section 14(6) of the Act from the other provisions of that section;
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Exempted Capital Asset means a capital asset which is exempted by sect ion (14)(6) or section 90(6) of the MFMA, as more fully dealt with in Chapter 5 of the MATR t hat is, an asset that is needed for the provisions of basic municipal services.
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Exempted Capital Asset means a capital asset which is exempted by section (14)
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Exempted Capital Asset means a municipal capital asset which is exempted by section 14(6) or 90(6) of the
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Exempted Capital Asset means a municipal capital asset which is exempted by section 14(6) or 90(6) of the Act from the other provisions of that section. This refers to the transfer of a capital asset to another organ of state (Municipality/Municipal entity, Provincial and National Government) in circumstances and in respect of categories of assets approved by the National Treasury, provided that such transfers are in accordance with a prescribed framework. This should be read in the context of Chapter 3 of the Municipal Asset Transfer Regulations issued in terms of Local Government: Municipal Finance Management Act, Act 56 of 2003. 3.12 “Granting of right to use, control or manage - This should be read in the context of Chapter 4 of the Municipal Asset Transfer Regulations issued in terms of Local Government: Municipal Finance Management Act, Act 56 of 2003. 3.13 “Lease Agreement” shall mean a contract between a Lessor and Lessee that allows the Lessee rights to the use of a property owned or managed by the Lessor for a period of time. The agreement does not provide ownership rights to the Lessee; however, the Lessor may grant certain allowances to modify, change or otherwise adapt the property to suit the needs of the Lessee. 3.14 “Minimum level of basic municipal services” - Should be read with Parts B of both Schedule 4 and 5 of the RSA Constitution (Act 108 of 1996, as amended). It refers to a municipal service that is necessary to ensure an acceptable andreasonable quality of life and which, if not provided, would endanger public health or safety of the environment. 3.15 “non-exempted capital asset”, means a municipal capital asset which is not exempted by section 14(6) or 90(6) of the Act from the other provisions of that section. This should be read in the context of Chapter 2 of the Municipal Asset Transfer Regulations issued in terms of Local Government: Municipal Finance Management Act, Act 56 of 2003. 3.16 “Rental” shall mean the applicable Market Rental payable by a Lessee as determined by a Professional Valuer on a monthly or annual basis including any rental discounts (if applicable). 3.17 “Valuation” shall mean the determination of the Market Value of municipal immovable property (or portion thereof) and the applicable Market Rental.
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Related to Exempted Capital Asset

  • Capital Asset means, with respect to the Borrower and its Subsidiaries, any asset that should, in accordance with GAAP, be classified and accounted for as a capital asset on a Consolidated balance sheet of the Borrower and its Subsidiaries.

  • Digital asset means an electronic record in which an individual has a right or interest. The term does not include an underlying asset or liability unless the asset or liability is itself an electronic record.

  • Adjusted Capital Account means, with respect to any Member, the balance, if any, in such Member’s Capital Account as of the end of the relevant fiscal year, after giving effect to the following adjustments:

  • Capital Assets means, with respect to any person, all equipment, fixed assets and Real Property or improvements of such person, or replacements or substitutions therefor or additions thereto, that, in accordance with GAAP, have been or should be reflected as additions to property, plant or equipment on the balance sheet of such person.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Required Capital Amount means $5,000,000.

  • Consolidated First Lien Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Net Debt (other than any portion of Consolidated Net Debt that is unsecured or is secured solely by a Lien that is expressly subordinated to the Liens securing the Obligations) as of such date to (b) Consolidated EBITDA for the most recent Test Period.

  • Net Working Capital Target means $0.00.

  • Digital Assets means electronic files for which a fee has been paid that are downloaded and stored on home electronic equipment, computers or mobile phones. “Digital assets” does not include downloaded files pertaining to “your” “business”.

  • Consolidated Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of such date that is then secured by Liens on property or assets of the Company and its Restricted Subsidiaries as of any date of determination to (b) EBITDA of the Company and its Restricted Subsidiaries for the most recently ended Test Period on or prior to such date, in each case with such pro forma adjustments as are consistent with the pro forma adjustments set forth in the definition of “Interest Coverage Ratio.”