Permitted Return definition

Permitted Return means, for any Payment Date with respect to any Calculation Period, the sum of (i) a rate of return payable to APCo on the amount of the Capital Contribution of 5.85% per annum plus (ii) any Permitted Return not paid on any prior Payment Date.
Sample 1Sample 2Sample 3
Permitted Return means, for any Payment Date with respect to any Calculation Period, the sum of (i) a rate of return payable to OPCo on the amount of the Capital Contribution calculated at OPCo’s average long term debt rate without reduction for accumulated deferred incomes taxes (which, as of the Closing Date, is 5.34% per annum) plus (ii) any Permitted Return not paid on any prior Payment Date.
Sample 1Sample 2Sample 3
Permitted Return means the amount specified in clause 4(2).
Sample 1Sample 2

Examples of Permitted Return in a sentence

  • The Net Return of HK Electric under the SoCA is determined by deducting from the Permitted Return interest and excess capacity adjustments, if any, and adjusting for the abovementioned incentives and penalties.

  • Member Davis moved for approval, seconded by Member Mills, which carried a 6-0-0-1 vote.

  • The financial operations of HK Electric are governed by the SoCA agreed with the Government which provides for HK Electric to earn a Permitted Return (see note 3(r)(i)).

  • The financial operations of HEC, a wholly-owned subsidiary of the Company, are governed by the SOC agreed with the Government which provides for HEC to earn a Permitted Return (see note 2(u)(i)).

  • The Net Return of HEC under the SOC is determined by deducting from the Permitted Return interest and excess capacity adjustments, if any, and adjusting for the abovementioned incentives and penalties.

  • The financial operations of HK Electric are governed by the Scheme of Control Agreement (“SoCA”) agreed with the Government which provides for HK Electric to earn a Permitted Return.

  • The financial operations of The Hongkong Electric Company, Limited (“HEC”), a wholly-owned subsidiary of the Company, are governed by a Scheme of Control (“SOC”) agreed with the Hong Kong SAR Government which provides for HEC to earn a Permitted Return (see note 1(h)(i)).

  • Under the SCA, any excess in Net Revenue over the Permitted Return, after deduction of excess capacity adjustment, is transferred to the DF.

  • HEC is required to submit detailed financial plans for approval by the Government which project the key determinants of the Permitted Return HEC will be entitled to over the Financial Plan period.

  • The earnings of The Hongkong Electric Company, Limited ("HEC") are regulated by the Hong Kong SAR Government under a Scheme of Control ("SOC") which provides for a permitted level of earnings based principally on a return on HEC's capital investment in electricity generation, transmission and distribution assets (the "Permitted Return").


More Definitions of Permitted Return

Permitted Return shall have the meaning given to it in the SCA.
Sample 1Sample 2
Permitted Return shall have the meaning set forth in Section 7.5.2(b) hereof.
Sample 1Sample 2

Related to Permitted Return

  • Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Investment Return means the investment return payable in respect of the Bond in accordance with Clause 5 Returns.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.