Vous avez cherché: it would be offset (Danois - Italien)

if a longer period were used, rates would be higher.
if a longer period were used, rates would be higher.

it would also provide your family with benefits in the event of your death .
it would also provide your family with benefits in the event of your death .

investbx thus receives funding that it would otherwise not be able to seek from private sector sources at market rates.
investbx thus receives funding that it would otherwise not be able to seek from private sector sources at market rates.

the income from the tote would be used for the development of the whole horseracing sector.
the income from the tote would be used for the development of the whole horseracing sector.

in a final evaluation, the results would be crosschecked against other valuation techniques.
in a final evaluation, the results would be crosschecked against other valuation techniques.

it would not have been able to raise the capital to be used for its activities under the same favourable terms under normal market conditions.
it would not have been able to raise the capital to be used for its activities under the same favourable terms under normal market conditions.

with reference to estimates made by investment banks in london, it is claimed that the value of the tote would be at least gbp 500 million.
with reference to estimates made by investment banks in london, it is claimed that the value of the tote would be at least gbp 500 million.

if aid were to become generalised and, as it were, the norm, it would lose all its incentive quality and its economic impact would be nullified.
if aid were to become generalised and, as it were, the norm, it would lose all its incentive quality and its economic impact would be nullified.

an assessment of economic impacts would be rather premature as experience shows that benefits from such reforms take longer to materialise.
an assessment of economic impacts would be rather premature as experience shows that benefits from such reforms take longer to materialise.

all stakeholders called for the use of a regulation , which would be the most effective way of guaranteeing uniform implementation and thus a level playing field .
all stakeholders called for the use of a regulation , which would be the most effective way of guaranteeing uniform implementation and thus a level playing field .

(69) there is no certainty that the profits generated by the tote would be channelled in their entirety into the racing sector.
(69) there is no certainty that the profits generated by the tote would be channelled in their entirety into the racing sector.

in conclusion, it would appear that the measure under consideration involves state aid within the meaning of article 87(1) ec.
in conclusion, it would appear that the measure under consideration involves state aid within the meaning of article 87(1) ec.

in the context of the current reform plans, the levy system would be abolished and replaced by income from commercial sources [10].
in the context of the current reform plans, the levy system would be abolished and replaced by income from commercial sources [10].

any funds generated by the measure which would be allocated to the horseracing industry would not primarily benefit activities which could be regarded as related to culture and/or heritage conservation.
any funds generated by the measure which would be allocated to the horseracing industry would not primarily benefit activities which could be regarded as related to culture and/or heritage conservation.

hence on the assumption that the difference in business rates taxation among these operators involved state aid and conferred a selective advantage upon certain players, it would alter their competitive position on the market and hence distort competition.
hence on the assumption that the difference in business rates taxation among these operators involved state aid and conferred a selective advantage upon certain players, it would alter their competitive position on the market and hence distort competition.

in this respect the united kingdom has stated that its authorities were mistakenly convinced that the inclusion of the measures into the annual state aid inventory, yearly submitted to the commission, would be sufficient to inform the commission of the aid in question.
in this respect the united kingdom has stated that its authorities were mistakenly convinced that the inclusion of the measures into the annual state aid inventory, yearly submitted to the commission, would be sufficient to inform the commission of the aid in question.

(27) an investment can be considered to be in line with the market economy investor principle if the investment is made in circumstances that would be acceptable to a private investor operating under normal market economy conditions.
(27) an investment can be considered to be in line with the market economy investor principle if the investment is made in circumstances that would be acceptable to a private investor operating under normal market economy conditions.

furthermore, and even assuming that only the tote if owned by racing would guarantee the maintenance of adequate pool betting activities, the uk government has not demonstrated that the envisaged aid would be necessary to compensate the tote/racing for this.
furthermore, and even assuming that only the tote if owned by racing would guarantee the maintenance of adequate pool betting activities, the uk government has not demonstrated that the envisaged aid would be necessary to compensate the tote/racing for this.

(17) from the information provided by the united kingdom it can at this stage not be established whether indeed, as stated by the authorities, that the loans can be deemed to be commercial loans, given under conditions that would be acceptable to a normal private lender.
(17) from the information provided by the united kingdom it can at this stage not be established whether indeed, as stated by the authorities, that the loans can be deemed to be commercial loans, given under conditions that would be acceptable to a normal private lender.

(21) loans that have been granted under more favourable circumstances or with more favourable conditions than would be acceptable to a normal private lender must considered to give the undertakings to which these loans have been granted a benefit which they would not have received under normal economic circumstances.
(21) loans that have been granted under more favourable circumstances or with more favourable conditions than would be acceptable to a normal private lender must considered to give the undertakings to which these loans have been granted a benefit which they would not have received under normal economic circumstances.