additional rate definition

additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

additional rate means an additional rate contemplated in sections 19(1)(d) and 22(1)(b) of the Property Rates Act and in section 12(2) of this By-law;

additional rate means an annual rate initially equal to 7.0% per annum, increasing by 1.0% on every anniversary of the occurrence of the Specified Event.

Examples of additional rate in a sentence

• The Committee, in its sole discretion, may change the Additional Rate at any time; provided that at no time shall the Additional Rate be less than zero (0.0) percentage points.

• In addition, under the circumstances set forth in the Indenture, the Co-Issuers shall also pay contingent additional interest on this Note at the Series 2007-1 Class A-1 Extension Contingent Additional Rate or the Series 2007-1 Class A-1 Post-ARD Monthly Contingent Additional Rate, as applicable, and such contingent additional interest shall be computed and shall be payable in the amounts and at the times set forth in the Indenture.

• The Additional Rate at the effective date of the Plan and until changed by the Committee shall be one-quarter of one (0.25) percentage point.

• Such new Additional Rate shall apply to amounts deferred pursuant to an election received by the Company on or after the date on which the change is adopted and announced by the Committee.

• The Additional Rate as of January 1, 1990 shall be zero (0.0) percentage points and, effective from and after January 1, 1996 and until changed by the Committee, shall be one-quarter of one (0.25) percentage point.

More Definitions of additional rate

additional rate means the additional rate charged by the City to registered owners of property situated in the SRA for the benefit of the SRA, as contemplated in sections 19(1)(d) and 22(1)(b) of the Property Rates Act and section 12(2) of the By- law (subject to any applicable exemptions);

additional rate means an additional rate contemplated in Sections 19(1)(d) and 22(1)(b) of the Act read together with clause 9, and is payable and collected in the same manner as other property rates imposed by the Municipality;

additional rate means an additional rate contemplated in section 22 of the Local Government: Municipal Property Rates Act, 6 of 2004 (the “MPRA”), and in Section 22 of this By-law;

additional rate means an additional rate contemplated in sections 19(1) (d) and 22(1) (b) of the Act read together with clause 9 of this Policy;

additional rate means an additional rate contemplated in sections

additional rate means an additional rate contemplated in sections 19(1)(d) and 22(1)(b) of the Municipal Property Rates Act, 2004 (Act No. 6 of 2004) in section 11(2) of this by-law;

additional rate means the additional rate contemplated in section 22(1)(b) of the Local Government: Municipal Property Rates Act, 6 of 2004) (the “MPRA”), and in sections 22 of the City of Cape Town: City Improvement District By-law 2023 (the “By-law”);