Remuneration of the RAB Sample Clauses

Remuneration of the RAB. In order to match EU best practice, future regulation will define a rate for RAB remuneration for each regulatory period, based on a real pre-tax WACC, calculated on the basis of the economic and financial market conditions in Montenegro and in line with the most accepted international economic practices, through the following formula:   Ke E (1 − tc ) D  1 +  (1 −T )⋅( + D ) + Kd ⋅( − T ) ⋅( + D )   E 1 + rpi E  −1 where: Ke = cost of equity E = value of equity D = value of borrowed capital (debt) Kd = cost of debt tc = tax rate on interests T = tax rate on gross return rpi = Montenegrin inflation rate (consumer price index, the same used for the RAB revaluation) The share of equity and share of debt will be taken into account as the ratio 50:50. The cost of equity (Ke) shall be estimated in accordance with the Capital Asset Pricing Model (CAPM): Ke= rf + ß x MRP where: • rf: Montenegrin risk free rate; • MRP: market risk premium that is the premium required by the investors to buy activities with a level of risk equal to the average market risk; • ß: systematic risk of the activity/asset/security which measures the part of the asset's statistical variance that cannot be mitigated by the diversification provided by the portfolio of many risky assets. Such variables will be evaluated in accordance with the Montenegrin market values and with the specific industry related risks. The RAB remuneration as defined above shall apply to the assets of the TSO in operation as the base rate of remuneration to the entire asset base (RAB as defined above), to the works in progress, the inventory and the investments approved and listed in the approved CAPEX Plan of CGES. Therefore, the value of the WACC as base rate of return shall be assessed and calculated according to the market conditions. In particular, in order to increase the actual rate of return, the base rate WACC real pre-tax will be progressively brought to a value in line with the market conditions. This gradual increase of RAB remuneration shall envisage, in any case, at least 5,9% and 6,8% as a return on equity, respectively for the 2011 and 2012 tariffs. Financial expenses will be recognized as opex like at the time being, until the WACC reflects market conditions. With reference to the tariffs starting from 2013 onward, the RAB remuneration will be further increased considering a market based WACC value as a target. Each increase of RAB remuneration exceeding 6.8% will be applied also consid...
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Related to Remuneration of the RAB

  • Remuneration The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

  • Remuneration of Directors The directors are entitled to the remuneration for acting as directors, if any, as the directors may from time to time determine. If the directors so decide, the remuneration of the directors, if any, will be determined by the shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a director.

  • Remuneration and fees In most cases we are paid by commission from the insurer but in some circumstances, we may charge you a fee instead of commission or a combination of both where we arrange policies with a low commission. Where we charge a fee, this will not be liable for insurance premium tax or value added tax (insurance is a VAT exempt industry). All fees will be advised verbally and/or will be included within the Statement of Price document before you incept your policy. We will also make the following administration charges per policy: See Appendix 1 Our commission and fee(s) are earned on placement of your insurance. If you make a change or cancel your policy mid-term (other than in the 14-day Cooling Off period) which results in a return premium, we will retain all fees and any commission to cover our administration and advisory services. Our fees will be clearly shown in any invoice we issue to you, and we will advise you of the amount of any charge before you become liable to paying it. We have arrangements with some insurers to receive additional payments reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf, and we will advise you where this is the case.

  • Remuneration of Escrow Agent The Issuer will pay the Escrow Agent reasonable remuneration for its services under this Agreement, which fees are subject to revision from time to time on 30 days' written notice. The Issuer will reimburse the Escrow Agent for its expenses and disbursements. Any amount due under this section and unpaid 30 days after request for such payment, will bear interest from the expiration of such period at a rate per annum equal to the then current rate charged by the Escrow Agent, payable on demand.

  • CHANGING OR TERMINATING YOUR ACCOUNT As permitted by law, the Credit Union may change the terms of this Agreement and any attached Disclosure from time to time. Notice of any change will be given in accordance with applicable law. If permitted by law and specified in the notice to you, the change will apply to your existing account balance as well as to future transactions. Either you or the Credit Union may terminate this Agreement at any time, but termination by you or the Credit Union will not affect your obligation to pay the account balance plus any finance and other charges you owe under this Agreement. Your obligation to pay the account balance plus any finance and other charges you owe under this agreement are subject to all applicable laws and regulations regarding repayment requirements. You are also responsible for all transactions made to your account after termination, unless the transactions were unauthorized. The card or cards you receive remain the property of the Credit Union and you must recover and surrender to the Credit Union all cards upon request or upon termination of this Agreement whether by you or the Credit Union. If this is a joint account, the paragraph on JOINT ACCOUNTS of this Agreement also applies to termination of the account.

  • REMUNERATION AND BENEFITS 3.1 Manitoba shall pay to Employee as remuneration for her services, within the Executive Assistant to the Minister (EXM) classification, a basic annual salary of $58,271 payable in equal bi-weekly installments of $2,233.73, at the accepted regular Manitoba Civil Service pay periods, pro-rated where necessary for any shorter period.

  • REMUNERATION PACKAGING Where agreed between the employer and an employee, the employer may introduce remuneration packaging. The terms and conditions of such a package may make provision for a salary greater than that contained in the salary band. The package overall shall not be less favourable than the entitlements otherwise available under this Agreement on a global or overall basis and shall be subject to the following provisions:

  • Duration of the Project includes the time from the beginning of the work on the Project until the Contractor's/person's work on the Project has been completed and accepted by the Owner.

  • TERMINATION OF THE MOU Either Party may terminate this MOU through written notice to the other party given not later than the last calendar day in December and to be effective for the ensuing academic fall semester. In the event of termination, the School District, School and College will prepare an agreeable plan of dissolution in accordance with all Applicable Laws to be submitted and approved by the authorized representatives from both Parties as listed herein.

  • Establishment of Service A. After receiving certification as a local exchange company from the appropriate regulatory agency, Reseller will provide the appropriate Company service center the necessary documentation to enable the Company to establish a master account for Reseller. Such documentation shall include the Application for Master Account, proof of authority to provide telecommunications services, an Operating Company Number ("OCN") assigned by the National Exchange Carriers Association ("NECA") and a tax exemption certificate, if applicable. When necessary deposit requirements are met, the Company will begin taking orders for the resale of service.

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