Value Test Clause Samples
A Value Test clause establishes a specific threshold or benchmark that must be met for certain contractual obligations or rights to be triggered. Typically, this clause is used to determine whether a particular asset, transaction, or performance metric reaches a predefined value, such as a minimum sales amount, asset valuation, or financial ratio. For example, a Value Test might require that a company's earnings exceed a set figure before profit-sharing provisions apply. The core function of this clause is to ensure that contractual actions or benefits are only activated when objective, measurable criteria are satisfied, thereby reducing ambiguity and aligning expectations between parties.
Value Test. 1. Except as provided in paragraphs 2 and 3, where Annex 3-A specifies a value test to determine whether a good is originating, the good is originating provided that the value of non-originating materials used in the production of the good does not exceed a given percentage of the transaction value or ex-works price of the good as specified in Annex 3-A.
2. For the purposes of a good of headings 87.01 through 87.08, at the choice of an exporter or a producer of such goods, the good is originating provided that the value of non-originating materials used in the production of the good does not exceed the given percentage of either the transaction value or ex-works price of the good, or the net cost of the good.
3. Notwithstanding paragraph 2, for the purposes of a good of headings 87.01 through 87.06, at the choice of an exporter or a producer of such goods, the good is originating provided that the value of originating materials used in the production of the good is not less than a given percentage of the transaction value or ex-works price of the good.
4. For the purposes of calculating the net cost of a good under paragraph 2, the producer of the good may:
(a) calculate the total cost incurred with respect to all goods produced by that producer, subtract any sales promotion, marketing and after-sales service costs, royalties, shipping and packing costs, and non-allowable interest costs that are included in the total cost of all those goods, and then reasonably allocate the resulting net cost of those goods to the good;
(b) Calculate the total cost incurred with respect to all goods produced by that producer, reasonably allocate the total cost to the good, and then subtract (b)any sales promotion, marketing and after-sales service costs, royalties, shipping and packing costs and non-allowable interest costs that are included in the portion of the total cost allocated to the good; or
(c) reasonably allocate each cost that forms part of the total cost incurred with respect to the good so that the aggregate of these costs does not include any sales promotion, marketing and after-sales service costs, royalties, shipping and packing costs, or non-allowable interest costs.
5. For the purposes of calculating the net cost of a good of headings 87.01 through
Value Test. Except as provided in paragraph 2, where the applicable rule of origin in Annex 301 for the tariff provision under which a good is classified specifies a value test, the value test shall be satisfied provided the value of non-originating materials used in the production of the good does not exceed a given percentage of the transaction value of the good.
Value Test. 1. Except as provided in paragraph 2, where the applicable rule of origin in Annex 3.02 for the tariff provision under which a good is classified specifies a value test, the value test is satisfied provided the value of all non-originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of the transaction value of the good under the following formula: Value of non-originating material used in the production of the good as a percentage of the transaction value of the good =
2. For the purpose of a good of headings 87.01 through 87.08, at the choice of an exporter or a producer of that good, the value test is satisfied if the value of a non- originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of either the transaction value or the net cost of the good.
3. The value of all non-originating material used by the producer in the production of a good does not, for the purposes of satisfying the value test under either paragraph 1 or 2, include the value of all non-originating material used to produce originating material that is subsequently used in the production of the good.
4. For the purpose of paragraph 3, the value of a non-originating material in paragraphs 1 and 2 does not include:
(a) the value of all non-originating material used by another producer to produce an originating material that is subsequently acquired and used in the production of the good by the producer of the good; or
(b) the value of all non-originating material used by the producer to produce an originating intermediate material.
5. For the purpose of calculating the net cost of a good under paragraph 2, the producer of the good may:
(a) calculate the total cost incurred with respect to all goods produced by that producer, subtract any sales promotion, marketing and after-sales service cost, royalty, shipping and packing cost, as well as a non-allowable interest cost that is included in the total cost of all those goods, and then reasonably allocate the resulting net cost of those goods to the good;
(b) calculate the total cost incurred with respect to all goods produced by that producer, reasonably allocate the total cost to the good, and then subtract any sales promotion, marketing and after-sales service cost, royalty, shipping and packing cost and non-allowable interest cost that is included in the portion of the total cost allocated to the good; or
(c) reasonably allocate ea...
Value Test. As at March 4, 2022 Ortho had 237,549,922 ordinary shares in issue. Assuming that each of such ordinary shares is voted at the Ortho Court Meeting, and if Carlyle votes in favour of the Ortho Scheme in respect of the 118,106,000 ordinary shares it holds via Computershare, Carlyle will account for 49.7% for the purpose of the value test. Assuming that each of the remaining 119,443,922 ordinary shares vote at the Ortho Court Meeting, at least 60,056,442 of such ordinary shares (representing 50.3% of the ordinary shares not held by Carlyle and 25.3% of the total ordinary shares) would need to vote in favour of the Ortho Scheme in order for the value test to be passed. As stated above, it is possible that not all of the ordinary shares held by shareholders other than Carlyle will vote at the Ortho Court Meeting and, as a result, ▇▇▇▇▇▇▇’▇ vote would represent a larger proportion of the three-quarters in value required to pass the value test. As a result, until the number of votes cast at the Ortho Court Meeting are known it is not possible to state how many ordinary shares held other than by Carlyle would need to vote in favour of the Ortho Scheme in order to pass the value test (unless every ordinary share not held by Carlyle votes at the Ortho Court Meeting—as described in the calculation above).
Value Test. • 1. Except as provided in paragraph 2, where the applicable rule of origin in Annex3.02 for the tariff provision under which a good is classified specifies a value test, the value test is satisfied provided the value of all non-originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of the transaction value of the good under the following formula: Value of non-originating material used in the production of the good as a percentage of the transaction value of the good = Value of Non-Originating Material x 100 Transaction Value of the Good
1. For the purpose of a good of headings 87.01 through 87.08, at the choice of an exporter or a producer of that good, the value test is satisfied if the value of a non-originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of either the transaction value or the net cost of the good.
2. The value of all non-originating material used by the producer in the production of a good does not, for the purposes of satisfying the value test under either paragraph 1 or 2, include the value of all non- originating material used to produce originating material that is subsequently used in the production of the good.
3. For the purpose of paragraph 3, the value of a non-originating material in paragraphs 1 and 2 does not include:
o a. the value of all non-originating material used by another producer to produce an originating material that is subsequently acquired and used in the production of the good by the producer of the good; or
o b. the value of all non-originating material used by the producer to produce an originating intermediate material.
Value Test. The Board of Supervisors shall have made the determinations set forth in Section 53345.8(b) or (c) of the ▇▇▇▇▇-▇▇▇▇ Act.
Value Test. • 1. Except as provided in paragraph 2, where the applicable rule of origin in Annex3.02 for the tariff provision under which a good is classified specifies a value test, the value test is satisfied provided the value of all non-originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of the transaction value of the good under the following formula: Value of non-originating material used in the production of the good as a percentage of the transaction value of the good = Value of Non-Originating Material x 100 Transaction Value of the Good
1. For the purpose of a good of headings 87.01 through 87.08, at the choice of an exporter or a producer of that good, the value test is satisfied if the value of a non-originating material used in the production of the good does not exceed the percentage specified in Annex 3.02 of either the transaction value or the net cost of the good.
2. The value of all non-originating material used by the producer in the production of a good does not, for the purposes of satisfying the value test under either paragraph 1 or 2, include the value of all non- originating material used to produce originating material that is subsequently used in the production of the good.
3. For the purpose of paragraph 3, the value of a non-originating material in paragraphs 1 and 2 does not include:
o a. the value of all non-originating material used by another producer to produce an originating material that is subsequently acquired and used in the production of the good by the producer of the good; or
o b. the value of all non-originating material used by the producer to produce an originating intermediate material.