Community Benefits formula Sample Clauses

Community Benefits formula. (a) The Parties agree that:
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Community Benefits formula. (a) The Parties agree that each formula specified in the right hand column of the table below applies to the corresponding Land Use Activity specified in the left hand column. Negotiation Activity Applicable Formula Commercial Leases for more than 10 and up to and including 21 years (excluding Major Public Works) Major Public Works (including Infrastructure undertaken by a Utility) Commercial Licences and Commercial Permits for more than 10 years Agriculture Leases covering 40 hectares or more, including Leases for plantations and aquaculture Formula A Formula A (where a Lease, Licence or Permit applies) Formula B Formula A Formula A Agreement Activity Applicable Formula Community Purpose Leases for more than 21 years Formula A New Timber Release Plans Formula C The grant of an estate in fee simple other than a grant pursuant to s 14 or s 19 of the Traditional Owner Xxxxxxxxxx Xxx 0000 (Vic) or a grant made for the purpose of a project that is for a public purpose. Commercial Leases more than 21 years (excluding Major Public Works) Major works and/or clearing of land for Commercial Purposes (where a Public Land Authorisation is not required, and excluding Major Public Works) Formula D Formula E Formula F
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Community Benefits formula. The Parties agree that each formula specified in the right hand column of the table below applies to the corresponding Land Use Activity specified in the left hand column. Negotiation Activity Applicable Formula Commercial Leases for more than 10 and up to and including 21 years (excluding Major Public Works) Major Public Works (including Infrastructure undertaken by a Utility) Commercial Licences and Commercial Permits for more than 10 years Agriculture Leases covering 40 hectares or more, including Leases for plantations and aquaculture Formula A Formula A (where a Lease, Licence or Permit applies) Formula B Formula A Formula A Agreement Activity Applicable Formula Community Purpose Leases for more than 21 years Formula A New Timber Release Plans Formula C The grant of an estate in fee simple, other than a grant:
Sample 1
Community Benefits formula. The Parties agree that each formula specified in the right hand column of the table below applies to the corresponding Land Use Activity specified in the left hand column. Negotiation Activity Applicable Formula Commercial Leases for more than 10 and up to and including 21 years (excluding Major Public Works) Formula A Major Public Works (including Infrastructure undertaken by a Utility) Formula A (where a Lease, Licence or Permit applies) Formula B Commercial Licences and Commercial Permits for more than 10 years Formula A Agriculture Leases covering 40 hectares or more, including Leases for plantations and aquaculture Formula A Community Purpose Leases for more than 21 years Formula A New Timber Release Plans Formula C Agreement Activity Applicable Formula The grant of an estate in fee simple, other than a grant: (a) pursuant to s 19 of the Act; (b) made to facilitate a project that is for a public purpose; or (c) transfer or vesting made pursuant to s 22A of the Land Xxx 0000 (Vic). Formula D Commercial Leases more than 21 years (excluding Major Public Works) Formula E Major Works and/or clearing of land for Commercial Purposes (where a Public Land Authorisation is not required, and excluding Major Public Works) Formula F Formulae FORMULA A ACRONYMS: Rental Received (RR) ($ amount of RR12in $0 - $20,000 * 25 %) + Community Benefits (payable each + ($ amount of RR in $20,001 - $100,000 * 10 %) year that the Lease rental is received) = + ($ amount of RR in $100,001 - $500,000 * 5 %) Solatium (RR * 10 %) + ($ amount of RR in $500,001 – $1,000,000 * 2.5 %) + ($ amount of RR above $1,000,001 * 0.5 %) PLUS GST Note: The Corporation will also be entitled to reimbursement of reasonable negotiation costs (as prescribed by regulation)23 FORMULA B ACRONYMS: Unimproved Market Value (UMV) Community Benefits = ($ amount of UMV14in $0 - $100,000 * 25 %) + + ($ amount of UMV in $100,001 - $500,000 * 10 %) + ($ amount of UMV in $500,001 - $1,000,000 * 5 %) Solatium (UMV * 10 %) + ($ amount of UMV in $1,000,001 – $10,000,000 * 2.5 %) + ($ amount of UMV above $10,000,000 * 0.5 %) PLUS GST Note: The Corporation will also be entitled to reimbursement of reasonable negotiation costs (as prescribed by regulation)25 FORMULA C Community Benefits (payable each year that the Timber Release Plan is current) = adjusted area harvested2 by VicForests within TRP that is covered by LUAA3 in that year ($ TO group share of Dividend4 in $0 - $20,000 * 25 %) + ($TO group share of Dividend4...
Sample 1
Community Benefits formula. (a) The Parties agree that each formula specified in the right hand column of the table below applies to the corresponding Land Use Activity specified in the left hand column. Negotiation Activity Applicable Formula Commercial Leases for more than 10 and up to and including 21 years (excluding Major Public Works) Formula A Major Public Works (including Infrastructure undertaken by a Utility) Formula A (where a Lease, Licence or Permit applies) Formula B Commercial Licences and Commercial Permits for more than 10 years Formula A Agriculture Leases covering 40 hectares or more, including Leases for plantations and aquaculture Formula A Community Purpose Leases for more than 21 years Formula A New Timber Release Plans Formula C Agreement Activity Applicable Formula The grant of an estate in fee simple other than a grant pursuant to s 14 or s 19 of the Act or a grant made for the purpose of a project that is for a public purpose. Formula D Commercial Leases more than 21 years (excluding Major Public Works) Formula E Major works and/or clearing of land for Commercial Purposes (where a Public Land Authorisation is not required, and excluding Major Public Works) Formula F
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Related to Community Benefits formula

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