Traduction de «coefficient de moment » (Français → Anglais) :

Although the Commission considers that the assumptions concerning the traffic projections should normally be exclusively based on the route frequencies and passenger targets stipulated in the ASAs and the load factor that could have been reasonably expected by So.Ge.A.AL at the time each ASA with Ryanair was concluded, given that at the time the 2006 and 2010 ASAs where signed So.Ge.A.AL expected Ryanair traffic to exceed the minimum targets set out in the agreements, the Commission agrees that So.Ge.A.AL's expectations at the time the agreements were signed, as set out in the business plans, represent the most accurate source for inferr ...[+++]ing So.Ge.A.AL's forecasts of Ryanair traffic at the time of signing the 2006 and 2010 ASAs.

(h) at the time the loan is approved, the gross debt service ratio and the total debt service ratio must not exceed 39% and 44%, respectively;

(h) at the time the loan is approved, the gross debt service ratio and the total debt service ratio must not exceed 39% and 44%, respectively;

If, for a given product, the estimated selling price in public intervention storage is lower than the buying in price, a depreciation percentage, called the ‘k coefficient’ shall be applied at the time of buying in.

The need of applying an eventual reduction coefficient in the same year implies a serious difficulty for the implementation of the new scheme In order to avoid the application of such reduction coefficient the only alternative would be to grant all the payments principally when all the seed is marketed, i.e. when the total quantity of seed is known.

So for the loan losses, you're right, we're talking about, per year, a ratio of roughly 1.3% or 1.4% depending on the position in the cycle, which on average is three times higher than what the chartered banks will experience over a cycle.