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 bySection 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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Exempted Capital Asset means a capital asset which is exempted by section (14)(6) or section 90(6) of the MFMA, that is, an asset that is needed for the provisions of basic municipal services.
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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.

  • Invested Capital means the amount calculated by multiplying the total number of Shares purchased by Stockholders by the issue price at the time of such purchase, reduced by the portion of any Distribution that is attributable to Net Sales Proceeds and by any amounts paid by the Company to repurchase Shares pursuant to the Company’s plan for the repurchase of Shares.

  • Total Asset Value means as of any date of determination the sum (without duplication) of all of the following of the Borrower, the REIT Guarantor and their Subsidiaries on a consolidated basis determined in accordance with GAAP applied on a consistent basis: (a) cash and Cash Equivalents, plus (b) with respect to each Property (other than Development Properties, the Market Square Property and Properties with a negative Net Operating Income) owned for four (4) consecutive fiscal quarters by the Borrower, the REIT Guarantor or any of their respective Subsidiaries, the quotient of (i) Net Operating Income less Capital Reserves attributable to such Property (without regard to its occupancy) for the prior fiscal quarter of the Borrower most recently ended times four (4), divided by (ii) the applicable Capitalization Rate, plus (c) with respect to each Property acquired during the most recent four (4) fiscal quarters of the Borrower, the greater of (i) the quotient of (A) Net Operating Income less Capital Reserves attributable to such Property (without regard to its occupancy) for the prior fiscal quarter of the Borrower most recently ended times four (4), divided by (B) the applicable Capitalization Rate, and (ii) the undepreciated GAAP book value (after taking into account any impairments) of such Property, plus (d) with respect to the Market Square Property, the greater of (1) the quotient of (A) Net Operating Income less Capital Reserves attributable to the Market Square Property (without regard to its occupancy) for the prior fiscal quarter of the Borrower most recently ended times four (4), divided by (B) the Capitalization Rate for CBD or Urban Infill Properties, and (2) the undepreciated GAAP book value (after taking into account any impairments) of the Market Square Property, plus (e) the undepreciated GAAP book value (after taking into account any impairments) for Construction-In-Process for Development Properties, plus (f) the undepreciated GAAP book value (after taking into account any impairments) of Unimproved Land. The Borrower’s pro rata share of assets held by Unconsolidated Affiliates (excluding assets of the type described in the immediately preceding clause (a)) will be included in Total Asset Value calculations consistent with the above described treatment for wholly owned assets. For purposes of determining Total Asset Value, Net Operating Income from Properties acquired or disposed of by the Borrower, any Subsidiary of the Borrower or any Unconsolidated Affiliate during the immediately preceding four (4) fiscal quarters of the Borrower shall be excluded from clause (b) above. For purposes of determining Total Asset Value, Total Asset Value attributable to the following investments in excess of the limitations set forth below shall be excluded from Total Asset Value:

  • Adjusted Capital and Reserves means the aggregate of:

  • 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, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Net Working Capital Target means $0.00.

  • 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.”