Betekenis van:
perpetuity

Voorbeeldzinnen

1. Moreover, perpetuity levels are generally estimated to be of a similar order of magnitude as the economic growth rate.
2. In order to calculate this, an assumption as to the cash-flow perpetuity rate has to be made.
3. The perpetuity aspect does not, however, involve the risk of loss in the event of insolvency or liquidation.
4. For these reasons, the Land of Hessen and Helaba agreed to a further premium on the initial remuneration, the so-called perpetuity premium, of 0,2 % a year.
5. The parties had taken account of the perpetuity of the contribution in the form of the remuneration premium of 0,20 % a year.
6. However, the Commission will later examine whether the perpetuity aspect justifies a premium on the usual market remuneration for the silent partnership contribution.
7. However, the Land had required a remuneration premium of 0,20 % a year in return for the perpetuity of the contribution and the bank's unilateral right of notice.
8. Given that France's economic growth in recent years has been between 1 and 3 %, the Commission takes the view that a value of 2,2 % can be applied for the perpetuity rate.
9. Germany presented a comparative calculation of the perpetuity premium for the Deutsche Bank's euro transaction (perpetual) of July 1999, which was of unlimited duration, as compared with the Dresdner Bank's transaction of May 1999, which was of limited duration .
10. According to information provided by Germany, the trade tax may be divided proportionally between the two remuneration components, with 0,23 % a year apportioned to the agreed initial remuneration of 1,2 % a year and 0,03 % apportioned to the agreed perpetuity premium of 0,2 %.
11. For these reasons, the Land of Hessen and Helaba agreed to a further premium on the initial remuneration, the so-called perpetuity premium, of 0,2 % a year. Taking account of the above-mentioned trade tax effect, the rate applicable for the market comparison rises to 0,23 % a year.
12. This finding, though it certain cannot be described as statistically robust, given the lack of a sufficient number of comparative transactions, also lends further plausibility to Germany's argument that the perpetuity aspect does not change the silent partnership contribution into a capital instrument of a different type, as argued by the BdB, for example.
13. Germany and Helaba argue in response to this that, even in the case of perpetuals, investors have to reckon with step-up, that, contrary to possible expectations, at the time when the step-up clauses become effective, there is no ‘on-schedule’ repayment and that thus the perpetuity risk exists.
14. The Commission also examined in detail to what extent the perpetuity of the contribution, i.e. the fact that it is of unlimited duration and not withdrawable subject to notice by the Land of Hessen, affects the risk analysis to be carried out here.
15. Comparative data on the market nature of the perpetuity premium were not available to the parties at the end of 1998, since, in the period between the ‘Sydney Declaration’ of 28 October 1998 and 1 December 1998, it was not possible for a transparent market for permanent silent partnerships to develop.