Useful Economic Life definition

Useful Economic Life means the period of years following the Final Payment Date that any Asset shall be used for the Approved Use as set out in Schedule 1.
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Useful Economic Life of the Asset: 25th June 2026 (5 years after final payment date MHCLG) Voucher Claim: a claim for payment of the Smart Energy Voucher by the Recipient at the end of the Voucher Period. Voucher Period: the period for Voucher Start Date and ending on the Voucher Expiry Date.
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Useful Economic Life means the period that any Asset funded by the Grant is capable of contributing to the Project's output Targets (as included at Schedule 3 and as may be further specified in the Application) taking into account the nature of the Asset and its ordinary depreciation, and any requirements related to State Aid Rules/Structural Funds Regulations, and unless otherwise specified/expanded upon in the Project Specific Conditions at Schedule 1, is: the period commencing on the Final Payment Date; and in the case of a Fixed Asset expiring on the [refer to instructions] anniversary of the Final Payment Date; or in the case of a Major Asset expiring on the [fifth] anniversary of the Final Payment Date.
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Examples of Useful Economic Life in a sentence

  • Capitalised development costs are amortised over the period the Group expects to benefit from selling the products developed (Useful Economic Life).

  • Useful Economic Life: the annual depreciation charge for buildings, fixtures, fittings and equipment is sensitive to change in the estimated useful economic lives and residual value of assets.

  • During the Useful Economic Life of each Asset the Grant Recipient shall not create any charge, legal mortgage, debenture, or lien over any Asset without the prior written consent of the Secretary of State (except for Security contemplated by the Project Specific Conditions).

  • During the Useful Economic Life of each Fixed Asset, the Grant Recipient shall not cease to use the Fixed Asset, or any part of the Asset for the Approved Use without the prior written consent of the Authority.

  • Disposal of Assets other than Property Assets In respect of any Disposal, the Grant Recipient must not, during the Useful Economic Life of any Asset, Dispose of any Assets that have been totally or partly bought, restored, conserved (maintained or protected from damage) or improved with the Grant without the prior written consent of the Authority.

  • Additions to assets will be added to the carrying value of the asset and amortised over the remaining Useful Economic Life, where it meets the recognition criteria.

  • The Inventory must be maintained in line with the Standard Condition for Retention of Documents.If a Grant Recipient wishes to change the use of any Asset (whether Fixed Asset or Major Asset) during its Useful Economic Life, then the consent of the Department will be needed.

  • Without prejudice to any provision of any of this Funding Agreement conferring a remedy for failure to achieve any of the Targets, this obligation shall subsist until the Targets have been achieved or, if earlier, until the end of the Useful Economic Life of the Assets.

  • Impairment reviews are carried out if events or circumstances indicate that the carrying value of the components listed below is higher than the recoverable amount.Component Useful Economic Life Kitchens 15 yearsCentral Heating 15 yearsExternal Windows 30 yearsStructure 50 years Depreciation and Impairment of Other Non-Current AssetsNon-Current Assets are stated at cost less accumulated depreciation.

  • The 2007–13 ERDF funding agreements require the Grant Recipient to warrant that any Fixed Assets and Major Assets funded with ERDF will be used for their ‘Approved Use’ throughout their Useful Economic Life, and include an obligation on the Grant Recipient to secure consent to any change of use, which may be given subject to conditions, including the requirement to repay all or part of the grant.


More Definitions of Useful Economic Life

Useful Economic Life means the period that any Asset shall be used for the purpose stated in the Application as specified in the Project Specific Conditions;
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Useful Economic Life means in respect of any Asset the earlier of:
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Useful Economic Life means the 5 year period that the relevant Asset shall be used for the Approved Use as set out in Schedule 2.
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Related to Useful Economic Life

  • Special Economic Zone means each Special Economic Zone notified under the proviso to sub-section (4) of section 3 and sub-section (1) of section 4 (including Free Trade and Warehousing Zone) and includes an existing Special Economic Zone;

  • Economic Life means the number of years a property improvement is expected to be in service in a facility.

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • exclusive economic zone ’ means the zone established by Presidential Proclamation Numbered 5030, dated March 10, 1983, including the ocean waters of the areas referred to as ‘‘eastern special areas’’ in Article 3(1) of the Agreement between the United States of America and the Union of Soviet Socialist Re- publics on the Maritime Boundary, signed June 1, 1990;

  • Economic Minimum means the lowest incremental MW output level, submitted to PJM market systems by a Market Participant, that a unit can achieve while following economic dispatch.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Broad-Based Black Economic Empowerment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

  • freezing of economic resources means preventing the use of economic resources to obtain funds, goods or services in any way, including, but not limited to, by selling, hiring or mortgaging them;

  • Regional economic integration organization means an organization constituted by sovereign States of a given region to which its member States have transferred competence in respect of matters governed by this Convention and which has been duly authorized, in accordance with its internal procedures, to sign, ratify, accept, approve or accede to this Convention;

  • U.S. Economic Sanctions is defined in Section 5.16(a).

  • Economic loss means any of the following types of pecuniary harm:

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • Indian-owned economic enterprise means any Indian-owned (as determined by the Secretary of the Interior) commercial, industrial, or business activity established or organized for the purpose of profit, provided that Indian ownership constitutes not less than 51 percent of the enterprise.

  • Broad-Based Black Economic Empower-ment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

  • U.S. Economic Sanctions Laws means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

  • Minimum Generation Emergency means an Emergency declared by the Office of the Interconnection in which the Office of the Interconnection anticipates requesting one or more generating resources to operate at or below Normal Minimum Generation, in order to manage, alleviate, or end the Emergency.

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Economic abuse means any behaviour that has a substantial adverse effect on B’s ability to—

  • Safe haven means a readily recognizable and readily accessible site at which security is present or from which, in the event of an emergency, the transport crew can notify and wait for the local law enforcement authorities.

  • Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Established geographic service area means a geographic area, as approved by the Commissioner and based on the carrier's certificate of authority to transact insurance in this state, within which the carrier is authorized to provide coverage;

  • Atomic Energy Act means the Atomic Energy Act of 1954, as amended.

  • Loss Absorption Regulations means, at any time, the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments of the United Kingdom, the PRA, the United Kingdom resolution authority, the Financial Stability Board and/or of the European Parliament or of the Council of the European Union then in effect in the United Kingdom including, without limitation to the generality of the foregoing, any delegated or implementing acts (such as regulatory technical standards) adopted by the European Commission and any regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments adopted by the PRA and/or the United Kingdom resolution authority from time to time (whether or not such regulations, requirements, guidelines, rules, standards or policies are applied generally or specifically to the Company or to the Regulatory Group).

  • Nontransient noncommunity water system means a public water system that is not a community water system and that regularly serves at least the same 25 persons over 6 months per year.