DIVISION OF PROFITS AND LOSSES. 14.1 Profits shall be divided between the Partners on the basis of the agreement set out in the Sixth Schedule.
DIVISION OF PROFITS AND LOSSES. All Profits and Losses of the Company shall be allocated to the Members pursuant to the Distributions calculation in the next section.
DIVISION OF PROFITS AND LOSSES. Each of the Members will own a Membership Interest in the Company. All profits and losses of the Company will be shared by each of the Members according to the percentage of interest each Member owns. A separate capital account will be maintained for each Member. No Member may make any withdrawals from capital without prior approval of the Company. If the capital account of the Member becomes impaired, such Member’s share of subsequent Company profits will be first credited to his capital account until that account has been restored.
DIVISION OF PROFITS AND LOSSES. When, if ever, there is more than one member then each of the members shall own a profit interest in the company as set forth in paragraph VI, entitled "Capital Contributions", except as the same may hereafter vary or change as provided in paragraph VII, entitled "Additional Capital Contributions". When there is more than one than one member all profits of the company enterprise shall be shared by each of said members according to their respective percentage of capital interest. A separate capital account shall be maintained for each member. No member shall make any withdrawals from capital without prior approval of the company. If the capital account of the member becomes impaired, his share of subsequent company profits shall be first credited to his capital account until that account has been restored.
DIVISION OF PROFITS AND LOSSES. 6.1 Each of the Members will own an interest in the Company as set forth in Article IV, except as the same may hereafter vary or change as provided in Article V. All profits of the Company enterprise will be shared by each of the Members according to the percentage of interest each Member owns. A separate capital account will be maintained for each Member. No Member may make any withdrawals from capital without prior approval of the Company. If the capital account of the Member becomes impaired, his share of subsequent Company profits will be first credited to his capital account until that account has been restored.
DIVISION OF PROFITS AND LOSSES. Each partner shall be entitled to [%] of the net profits of the business, and all losses occurring in the course of the business shall be borne in the same proportion, unless the losses are occasioned by the willful neglect or default, and not the mere mistake or error, of any of the partners, in which case the loss so incurred shall be made good by the partner through whose neglect or default the losses shall arise. Distribution of profits shall be made on the [DAY] of [MONTH] each year.
DIVISION OF PROFITS AND LOSSES. It is the intent of the Managing Member to distribute and allocate the Company’s realized profits to the Members in proportion to their respective Capital Account.
DIVISION OF PROFITS AND LOSSES. The interest of the parties in and to any profits and assets derived from the performance of the construction contract, any property acquired by the joint venture in connection with the work to be performed under this agreement, and all contributions required, all moneys received, and losses incurred in the performance of the construction contract shall be according to those percentages set forth as follows: Party % Profits % Losses % Op. Expenses (Working Capital) Initial Capital Contribution
DIVISION OF PROFITS AND LOSSES. When, if ever, there is more than one member then each of the members shall own a profit interest in the company as set forth in paragraph VI, entitled "Capital Contributions", except as the same may hereafter vary or change as provided in paragraph VII, entitled "Additional Capital Contributions". When there is more than one than one member all profits of the company enterprise shall be shared by each of said members according to their respective percentage of capital interest. A separate capital account shall be maintained for each member. No member shall make any withdrawals from capital without prior approval of the company. If the capital account of the member becomes impaired, his share of subsequent company profits shall be first credited to his capital account until that account has been restored. IX Rights and Duties of the Parties This entity is to be member managed. When there is more than one member the company decisions and actions shall be decided by a vote of majority-in-capital interest of the membership, at meetings regularly called with notice to all members. For purposes of determining a "majority-in-capital interest", a member's interest will be his capital interest in as set forth in paragraph VI, and a majority will mean more than fifty percent (50%).
DIVISION OF PROFITS AND LOSSES. The Member shall own an interest in the Company as set forth in Paragraph VI, entitled “Capital Contributions,” and the Company’s profits and losses shall be divided accordingly.
