WRITE-OFF. 43.1 If a Vehicle is destroyed, damaged beyond repair or written-off, the Fleet Manager shall notify the Service Provider thereof; the provisions of clauses 42.1 to 42.3 applying mutatis mutandis.
WRITE-OFF. Subsequent to receipt of a Final Order from the PUC approving this Settlement Agreement as submitted by the Parties and upon satisfaction of the conditions contained in Section XVI, PSNH will write off $225 million after-tax (approximately $367 million pre-tax as of January 1, 2000). Such write-off shall take place on or before Competition Day. The write-off will be first taken against the Seabrook Deferred Return and the Acquisition Premium in a manner that will maximize benefits for customers. In addition to the write-off described above, PSNH will take an additional pre- tax write-off of $6,200,000 on or before Competition Day resulting from the settlement of issues pertaining to New Hampshire Electric Cooperative, Inc. and will also reduce its Stranded Costs by an additional $10 million upon the transfer of the following market-based wholesale contracts to an affiliate: Braintree Littleton Electric Light & Water Dept. Burlington Electric Dept. Littleton, NH Central Maine Power Mansfield Citizens Lehman Middleton Citizens System Readinx Xxxxxxxxxxxx Xxxxxxxc Select Energy Danvers Sterling Fitchburg Gas & Electric UNITIL Holyoke Gas & Electric VT. Marble
WRITE-OFF. Loans and debt securities are written off (either partially or in full) when there is no realistic prospect of recovery. This is generally the case when the Credit Union determines that the borrower does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However financial assets that are written off could still be subject to enforcement activities in order to comply with the Credit Union's procedures for recovery of amounts due. Financial liabilities Recognition and initial measurement The Credit Union recognizes a financial liability when it becomes party to the contractual provisions of the instrument. At initial recognition, the Credit Union measures financial liabilities at their fair value plus transaction costs that are directly attributable to their issuance, with the exception of financial liabilities subsequently measured at FVTPL for which transaction costs are immediately recorded in profit or loss. Classification and subsequent measurement Subsequent to initial recognition, financial liabilities are measured at amortized cost or FVTPL. When the transfer of a financial asset does not qualify for derecognition because the Credit Union has retained substantially all of the risks and rewards of ownership, a liability is recognized for the consideration received. Subsequently, any expense incurred on the financial liability is recognized in profit or loss. All other financial liabilities are measured at amortized cost using the effective interest method. Financial liabilities measured at amortized cost include member deposits, accounts payable and accrued liabilities. The classification of a financial instrument or component as a financial liability or equity instrument determines where gains or losses are recognized. Interest, dividends, gains and losses relating to financial liabilities are recognized in profit or loss while distributions to holders of instruments classified as equity are recognized in equity. Financial liabilities are not reclassified subsequent to initial recognition. Embedded derivatives Certain derivatives embedded in other financial liabilities (such as the embedded option in an index linked term deposit product) are treated as separate derivative financial instruments when their economic characteristics and risks are not closely related to those of the host contract and the host contract is not carried at FVTPL. These embedded derivatives are separate...
WRITE-OFF. The Bank shall write off direct guarantees which according to their content are not expressly subject to foreign law after the close of the expiration date if these guarantees unequivocally expire according to their wording e.g. on a particular calendar date or through the submission of documents provided for determining the expiration if no claim has been received by the Bank before its expiration. Should a claim still be brought against the Bank under the guarantee despite the write-off, it shall only make a payment if it has received a payment authorization or a decision enforceable in the country where it was taken from the originating party. In this case, the guarantee commission must be paid subsequently on behalf of the customer (originating party) up until the date of the payment. In the case of all other direct and indirect guarantees, the Bank shall only write off the guarantee when the guarantee deed including all amendments have been received by it in discharge of its obligations or it has been unequivocally and unreservedly released from its liability in writing by the beneficiary/the second bank. This shall also apply if the guarantees have a time limit. In the case of litigation guarantees, which are not returned to the Bank in discharge of its obligations by the beneficiary itself, the Bank shall only write of the guarantee amount if the beneficiary's consent to the exemption from liability or documented evidence of a legally-binding order pursuant to Section 109 (2) of the German Code of Civil Procedure ♦> Bayern LB [ZPO] (order of the extinguishment of the guarantee) is furnished. The originating party is responsible for the return of the guarantee deed as well as for arranging for the above-mentioned requirements for the write-off to be met.
