Discretionary Allowance definition
Examples of Discretionary Allowance in a sentence
The Single Discretionary Allowance (SDA) is an allowance of R1 million granted by the SARB per calendar year (1 January to 31 December), which a South African resident aged 18 years or older may use for any legal purpose offshore (including investing).
In the event that the Discretionary Allowance is not fully utilized by Tenant prior to the Lease Commencement Date, Landlord will reimburse Tenant either in cash within thirty (30) days after the Lease Commencement Date, or pursuant to Rent abatement, at Tenant’s option.
Landlord hereby agrees to pay the Third Additional Space Discretionary Allowance to Tenant on or before January 1, 2012.
To the extent the Discretionary Allowance is used for the Tenant Improvements, Landlord will cause such work to be completed in a good and workmanlike manner and in compliance with all Applicable Laws.
Section 16.14 of the Lease is hereby deleted in its entirety and the following is substituted in lieu thereof: "Discretionary Allowance.
By agreeing to these Terms, You assume responsibility for not exceeding Your Single Discretionary Allowance while using WorldRemit South Africa or any other financial institution to transfer funds out of South Africa.
Any portion of the Discretionary Allowance will be forfeited if not used by Tenant within one hundred eighty (180) following the Lease Commencement Date.
The Discretionary Allowance shall constitute an Inducement in accordance with Section 2.5 of the Existing Lease, provided that the amortization of the Discretionary Allowance shall be over the six and one-half (6.5) year period beginning July 1, 2011, and ending on December 31, 2017.
Tenant shall surrender possession of the Woodland I Second Takedown Space upon the commencement date of the space in the new building in accordance with Section 2.04 of the Lease and shall waive its rights to the Woodland I Third Takedown Space, the Third Takedown Space Allowance, the Third Takedown Space Discretionary Allowance, and any other Landlord obligation related thereto.
A South African resident (who is 18 years or older) is permitted to avail of a single discretionary allowance within an overall limit of R1,000,000.00 per person per calendar year without the requirement to obtain a tax clearance certificate in respect of foreign investments from the South African Revenue Service (the Single Discretionary Allowance).