Charging Year definition
Examples of Charging Year in a sentence
Average charges shall be based upon those payable in the previous Charging Year or where not possible a reasonable estimate of charges to be paid in the current Charging Year.
The Parties agree further that XYZ shall be entitled to receive payments in respect of such interest at regular intervals as agreed between XYZ and the Bank from time to time provided that XYZ ensures, at all times, that the amount standing to the credit of the Deposit Account is no less than the value of the Deposit for that Charging Year.
The Weighted Average Rates Increase implied by the Standard Rates as determined and approved by the Regulatory Office, in respect of any Charging Year may not exceed the Rate Adjustment Limit.
If in any Charging Year the Weighted Average Rates Increase is less than the Rate Adjustment Limit, that shortfall shall not be recoverable in any way by the Concessionaire in a future Charging Year.
For Sewerage Rates, a cap of one point five times (1.5x) the Standard Rate for sewerage services in effect in the last Charging Year of the immediately preceding Rate Rebasing Period.