Grossing up definition

Grossing up means that the distribution is treated as though notional tax equal to the basic rate of income tax has been paid on it. The actual distribution received is therefore treated as a “net” amount received. For instance, a £1,000 cash dividend received will be treated as though the gross amount was £1,265.82, with notional income tax of
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Grossing up. Operating Expenses. The provisions of this Section 4.8 -------------------------------- shall not apply to the Building at any time during which Tenant is leasing at least ninety-five percent (95%) of the Rentable Area of the Building. The provisions of this Section 4.8 shall apply to any other building(s) within the Project (excluding the Building) during any time in which any portion of the Premises is located in such other building(s). If any building to which the provisions of this Section 4.8 apply is not fully constructed and completed and/or does not have at least ninety-five percent (95%) of the Rentable Area thereof occupied during any calendar year period, then the Operating Expenses (other than those specific to the building as opposed to other portions of the Project) for such period shall be deemed to be equal to the total of (i) the Operating Expenses, other than Taxes, which would have been incurred by Landlord if the building had been fully constructed and completed and ninety-five percent (95%) of the Rentable Area of the building had been occupied for the entirety of such calendar year and (ii) the actual Taxes as defined in Paragraph 4.4(n) above. The annual amortization of costs shall be determined by dividing the original cost of such capital expenditure by the number of years of useful life of the capital item acquired, which useful life shall equal the number of years permitted by the Internal Revenue Service for amortization; if no Internal Revenue Service guidelines are available with respect to the item in question, the useful life shall be determined by Landlord on a reasonable, equitable and consistent basis. Operating Expenses shall be computed according to the cash or accrual basis of accounting, as Landlord may elect (in a reasonable, equitable and consistent basis) in accordance with standard and reasonable accounting principles employed by Landlord.
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Grossing up of charges means applying the provider's standard charge structure to the non- Medicare patient services. Charges so determined should be added to charges for services to Medicare patients and used to apportion costs in accordance with the apportionment method the provider is required to use under the program.
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Examples of Grossing up in a sentence

  • Grossing up provisions are unlikely to be appropriate, unless it is intended to allocate tax risks to the recipient.

  • Grossing up by the effective rate means calculating the gross sum which after deduction of the effective rate yields the net UK income.

  • All certificates representing the Shares issued upon exercise of this option shall, where applicable, have endorsed thereon the following legends: "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST.

  • All payments to be made by the Guarantor pursuant to this Guarantee shall, subject only to Clause 3.3 (Grossing up for Taxes), be made free and clear of and without deduction for or on account of any Taxes or other deductions, withholdings, restrictions, conditions or counterclaims of any nature.

  • Nothing in Clause 24.1 (Increased Cost) shall entitle the Lenders to receive any amount in respect of compensation for any such liability to Taxes, increased or additional cost, reduction, payment, foregone return or loss to the extent that the same is subject of an additional payment under Clause 22.2 (Grossing up for Taxes).

  • All payments to be made by the Covenantor under this Deed of Covenant shall be made in full, without any set-off or counterclaim whatsoever and, subject as provided in clause 3.2 (Grossing up for Taxes), free and clear of any deductions or withholdings, in Dollars on the due date to the account referred to in this Deed of Covenant or such other account as the Security Trustee may stipulate in writing.

  • All payments to be made by the Shareholder under this Deed shall be made in full, without any set-off or counterclaim whatsoever and, subject as provided in clause 12.2 (Grossing up for Taxes), free and clear of any deductions or withholdings, in Dollars on the due date to such account as the Bank shall from time to time notify to the Shareholder.


More Definitions of Grossing up

Grossing up of costs means applying to the non-Medicare patient services the same schedule of charges used by the servicing entity to bill the provider for Medicare patient services. Costs so determined should be added to the costs of services of Medicare patients. "Grossing up" of charges means applying the provider's standard charge structure to the non-Medicare patient services. If the provider does not have a charge structure, the charge structure used by the servicing entity may be used to apportion costs if it provides for similar charges for similar services to both Medicare and non-Medicare patients. Charges so determined should be added to charges for services to Medicare patients and used to apportion costs in accordance with the apportionment method the provider is required to use under the program.
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Grossing up is defined as increasing the employee’s award amount in order to cover the employee’s taxes due on an award. When an award amount is “grossed-up” to cover the taxes, both the value of the award and the “grossed-up” tax coverage amount must be included in the employee’s gross income and wages.
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Grossing up. Most leases provide that the “base year’s operating expenses,“ or any other year’s operating expense, if, during such year, building occupancy was below 95% for some extended (often 2 months is used) period of time during the calculation year, be calculated on the basis of the building being fully occupied. If such circumstance occurs, the landlord, in effect, “grosses-up” the operating expenses to reflect what landlord would have expended had the building been fully occupied for the entire year. A tenant, to protect itself from unjust charges, may require that the lease clearly distinguish between “fixed” expenses and “variable” expenses, and only the variable expenses be subject to adjustment. If calculated properly, a “gross-up” provision is generally fair and equitable.
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Related to Grossing up

  • Capitol hill complex means the grounds and buildings within the area bounded by 300 North Street, Columbus Street, 500 North Street, and East Capitol Boulevard in Salt Lake City.

  • School operating taxes means local ad valorem property taxes levied under section 1211 of the revised school code, MCL 380.1211, and retained for school operating purposes.

  • Historic building means a building, including its structural components, that is located in this state and that is either individually listed on the national register of historic places under 16 U.S.C. 470a, located in a registered historic district, and certified by the state historic preservation officer as being of historic significance to the district, or is individually listed as an historic landmark designated by a local government certified under 16 U.S.C. 470a(c).

  • Principal business operations means the operations of a business are located at the place or places where at least 60% of its employees work or where employees that are paid at least 60% of its payroll work. A business that has agreed to relocate or hire new employees using the proceeds of a growth investment to establish its principal business operations in a qualified rural local governmental unit in the state shall be considered to have its principal business operations in this new location provided it satisfies this definition within 180 days after receiving the growth investment, unless the fund agrees to a later date. A business located in this state that has agreed to hire new employees in a qualified rural local governmental unit using the proceeds of a growth investment to establish its principal business operations in that qualified rural local governmental unit shall be considered to have its principal business operations in a qualified rural local governmental unit provided it hires the necessary employees within 180 days after receiving the growth investment or a later date, if agreed to by the fund.

  • Burswood Casino means those premises in the Resort Complex identified in the Drawings as the areas to constitute the casino and includes areas in which money counting, surveillance, storage and other activities related to the conduct and playing of Games are carried on; and