Right of Use Asset definition

Right of Use Asset means, with respect to any Person, any asset that is leased by such Person and that is required in accordance with GAAP to be recorded on the balance sheet of such Person as a “right of use asset” pursuant to IFRS 16.
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Right of Use Asset means the non-monetary asset in connection with the adoption of ASC 842 effective April 1, 2019.
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Right of Use Asset means an asset that represents a lessee’s right to use any underlying asset for the lease term.
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Examples of Right of Use Asset in a sentence

  • Large portion of the Company’s leases are cancellable by both lessor and lessee or are arrangements which qualify as variable leases and hence are not considered for recognition of Right of Use Asset and lease liabilities.

  • The Group shall depreciate the Right of Use Asset from the commencement date to the end of useful life of the underlying assets on the straight line basis.At the commencement date, the Group shall measure the lease liability at thepresent value of the lease payments that are not paid at that date.

  • Measurement of Lease liabilities and Right of Use Asset Note No. 3.16 & 53.

  • The make good provision was also reassessed and included as a Right of Use Asset at Note 11.15.

  • Right of Use Asset and Lease LiabilityOn October 1, 2019, the Company commenced a new office lease and as required by IFRS 16, recorded a lease liability and a corresponding right of use asset.

  • Leases – Right of Use Asset and LiabilityThe Company’s operating lease agreements include office and warehouse space.

  • The Group shall depreciate the Right of Use Asset from the commencement date to the end of useful life of the underlying assets on the straight line basis.At the commencement date, the Group shall measure the lease liability at the present value of the lease payments that are not paid at that date.

  • DepreciationDepreciation has increased by $15k due to the Tamala Park lease now being categorised as a Right of Use Asset in line with Accounting Standards.

  • A Right of Use Asset is recognised at the commencement date of a lease.

  • Right of Use Asset $Cost Balance, December 31, 20215,778,704Additions746,553Balance, June 30, 20226,525,057 Depreciation Balance, December 31, 2021(557,540)Additions(608,478)Balance, June 30, 2022(1,166,018) Balance, December 31, 2021 5,221,164Balance, June 30, 20225,359,039 The Company’s right-of-use assets consist of clinic premises and medical equipment leases.


More Definitions of Right of Use Asset

Right of Use Asset means, with respect to any Person, any asset that is leased by such Person and constituting a right of use asset pursuant to IFRS 16. “ Rollover ” means a rollover of a maturing Bankers’ Acceptance into a new Bankers’ Acceptance or BA Equivalent Note, as applicable, or the rollover of a maturing LIBOR Advance into a new LIBOR Advance. “ Rollover Date ” means the date of commencement of a new Interest Period applicable to a Bankers’ Acceptance, BA Equivalent Note or a LIBOR Advance that is being rolled over. “ Rollover Notice ” means the Notice of Request for Advance substantially in the form annexed hereto as Schedule B to be given to the Agent by the Canadian Borrower in connection with the Rollover of a Bankers’ Acceptance, BA Equivalent Note or a LIBOR Advance or by the US Borrower to the Agent in connection with the Rollover of a LIBOR Advance. “ Sanctioned Person ” means a person named on the list of Specially Designated Nationals maintained by OFAC or otherwise designated under Sanctions Laws. “ Sanctions Event ” has the meaning set forth in Sec tion 8.01(40).
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Right of Use Asset means, with respect to any Person, any asset that is leased by such Person and constituting a right of use asset pursuant to IFRS 16. “ Sagard ” means Sagard Credit Partners, LP and its successors and assigns.
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Right of Use Asset means a “right of use asset” as defined under Applicable Accounting Standards.
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Right of Use Asset is hereby added to Section 1.01 of the Receivables Purchase Agreement in the appropriate alphabetical place and reads as follows:
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Right of Use Asset means, with respect to any Person, any asset that is leased by such Person and constituting a right of use asset pursuant to IFRS 16. “ Sagard ” means Sagard Credit Partners, LP and its successors and assigns. “ Sanctioned Person ” means a person named on the list of Specially Designated Nationals maintained by OFAC or otherwise designated under Sanctions Laws. “ Sanctions Event ” has the meaning set forth in Sec tion 7.01(43). “ Sanctions Laws ” means any economic, trade or financial sanctions or trade embargoes imposed, administered or enforced from time to time under laws and executive orders of the Canadian government (including without limitation including under the Special Xxxxxxxx Xxxxxxxx Xxx (Xxxxxx), the United Nations Act (Canada), the Freezing Assets of Corrupt Foreign Officials Act (Canada), the Justice for Victims of Corrupt Foreign Officials Act (Xxxxxx Xxxxxxxxx Law) and the Criminal Code (Canada) and, in each case, the regulations promulgated thereunder), the United States government, or any other relevant sanctions authority. “ Senior Administrative Agent ” means National Bank of Canada in its capacity as “Agent” under the Senior Credit Agreement. “ Senior Collateral Agent ” means National Bank of Canada in its capacity as “Collateral Agent” under the Senior Security Documents and the Intercreditor Agreement, or such Person from time to time appointed as collateral agent in accordance with the terms of the Intercreditor Agreement . “ Senior Credit Agreement ” means the ninth amended and restated credit agreement dated as of the date hereof between, among others, Just Energy Ontario L.P. and Just Energy (U.S.) Corp., as borrowers, National Bank of Canada as administrative agent and each person party thereto as a lender, as may be supplemented, modified, amended or restated from time to time. “ Senior Credit Documents ” has the meaning ascribed to the term “Credit Document” in the Senior Credit Agreement. “ Senior Debt ” means Total Debt minus (i) Debt incurred hereunder and (i) the $ 15 Million Subordinated Note, all as determined on a Modified Consolidated Basis in accordance with GAAP . “ Senior Debt to EBITDA Ratio ” means, for any Four Quarter Period, the ratio of Senior Debt as at the last day of the applicable Four Quarter Period to EBITDA in respect of such Four Quarter Period.
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Right of Use Asset means the non-monetary asset in connection with the adoption of ASC 842 effective April 1, 2019. “Sale and Lease Back Transaction” shall mean any arrangement, directly or indirectly, whereby a Person makes a Disposition of any property used or useful in the business of such Person, whether now owned or hereafter acquired, and thereafter rents or leases the same property and intends to use such property for substantially the same purpose or purposes as such property was used for prior to such Disposition. “Second Amendment” shall mean that certain Second Amendment to Amended and Restated Loan Agreement, dated as of June 4, 2019, by and among Borrowers, Agent and the Lenders party thereto. “Second Amendment Effective Date” shall mean the date on which the conditions precedent to the effectiveness of the Second Amendment are fulfilled or waived. “Second Amendment Fee Letter” shall mean the fee letter dated June 4, 2019 among Agent, MPA and PNC Capital Markets LLC.
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Related to Right of Use Asset

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Abandoned vehicle means any of the following:

  • Personal Property Collateral means all Collateral other than Real Property.

  • Right of Co-Sale means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice.

  • Right of Reference means the “right of reference” defined in 21 CFR 314.3(b), including with regard to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by reference or otherwise) contained in Regulatory Documentation (and any data contained therein) filed with such Regulatory Authority with respect to a Party’s Compound, only to the extent necessary for the conduct of the Study in such country or as otherwise expressly permitted or required under this Agreement to enable a Party to exercise its rights or perform its obligations hereunder.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Permitted Right of Others means a Right of Others consisting of (a) an interest (other than a legal or equitable co-ownership interest, an option or right to acquire a legal or equitable co-ownership interest and any interest of a ground lessor under a ground lease), that does not materially impair the fair market value or use of Property for the purposes for which it is or may reasonably be expected to be held, (b) an option or right to acquire a Lien that would be a Permitted Encumbrance, (c) the subordination of a lease or sublease in favor of a financing entity and (d) a license, or similar right, of or to Intangible Assets granted in the ordinary course of business.

  • Applicant’s Qualified Property means the Qualified Property of the Applicant to which the value limitation identified in the Agreement will apply and as more fully described in EXHIBIT 4 of this Agreement.

  • Access Rights means licences and user rights to foreground or background;

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Intellectual Property Asset means, at the time of determination, any interest (fee, license or otherwise) then owned by any Credit Party in any Intellectual Property.

  • Restriction of Use means, in respect of any day, any difference from the normal capability of all or any part of the Routes (where the normal capability of the Routes is expressed in the Applicable Timetable Planning Rules relevant to that day notified to each Timetable Participant on or before D-26) which results in:

  • Abandoned property means personal property left by an owner who intentionally

  • Shared vehicle driver means an individual who has been authorized to drive the

  • Obligor Intellectual Property means Intellectual Property owned by or licensed to any of the Obligors.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.

  • Green Tag Reporting Rights means the exclusive right of a purchaser of Environmental Attributes to report ownership of Environmental Attributes in compliance with federal or state law, if applicable, and to federal or state agencies or other parties at such purchaser's discretion, including under any present or future domestic, international, or foreign emissions trading program or renewable portfolio standard.

  • Right of Others means, as to any Property in which a Person has an interest, any legal or equitable right, title or other interest (other than a Lien) held by any other Person in that Property, and any option or right held by any other Person to acquire any such right, title or other interest in that Property, including any option or right to acquire a Lien; provided, however, that (a) no covenant restricting the use or disposition of Property of such Person contained in any Contractual Obligation of such Person and (b) no provision contained in a contract creating a right of payment or performance in favor of a Person that conditions, limits, restricts, diminishes, transfers or terminates such right shall be deemed to constitute a Right of Others.

  • Intellectual Property Collateral means, collectively, the Patents, Trademarks, Copyrights, Intellectual Property Licenses and Goodwill.

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • Covered Property is the address stated on your Agreement Coverage Summary Page. • “Domestic-grade” Items are those that were designated by the manufacturer, manufactured and marketed solely for installation and use in a residential single family dwelling.

  • Transition Property means the property right created by a financing order, including without

  • Right of First Refusal and Co-Sale Agreement means the agreement among the Company, the Purchasers, and certain other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit G attached to this Agreement.

  • Shared vehicle means a vehicle that is available for