Formula for Calculation Sample Clauses
The "Formula for Calculation" clause defines the specific method or equation to be used for determining a particular value or outcome under the contract. This clause typically outlines the variables involved, the mathematical operations to be performed, and any relevant conditions or data sources required for the calculation. For example, it may specify how to calculate interest, penalties, or performance metrics based on agreed parameters. Its core practical function is to ensure transparency and consistency in how key figures are derived, thereby reducing the risk of disputes and misunderstandings between the parties.
Formula for Calculation. In addition to Minimum Annual Rent, Tenant covenants and agrees to pay to Landlord as additional rent for each Lease Year the sum of Three percent (3.0%) of the amount by which Tenant's Gross Sales for such Lease Year exceeds the Minimum Annual Rent ("Percentage Rent"). Percentage Rent shall be payable, in arrears, on or before March 10 for the immediately preceding Lease Year. The amount of Percentage Rent payable by Tenant hereunder for the first Lease Year shall be prorated by computing the Percentage Rent that would be payable based on Gross Sales for the first 365 days of the Term and multiplying that number by a fraction, the numerator of which is the number of days in the first Lease Year and the denominator of which is 365. Such prorated Percentage Rent for the first Lease Year shall be payable prior to the 455th day of the Term. The Percentage Rent payable by Tenant for the final Lease Year shall be prorated by computing the Percentage Rent that would be payable based on Gross Sales for the last 365 days of the Term and multiplying that number by a fraction, the numerator of which is the number of days in the final Lease Year and the denominator of which is 365. Such prorated Percentage Rent for the final Lease Year shall be payable within 90 days after the Term expiration date.
Formula for Calculation. Tenant covenants and agrees to pay to Landlord as rent for each Term the sum of Three percent (3.0%) of the amount of Tenant's Gross Sales for the Term ("Percentage Rent"), provided, however, that the Percentage Rent payable hereunder shall be reduced by the amount of any Operating Loss, as defined below. Percentage Rent shall be payable, in arrears, on or before March 10, 1999. "Operating Loss" means the excess, if any, of Fully Allocated Costs, as defined below, over Gross Sales. "Fully Allocated Costs" means the sum of all costs and expenses of every kind and nature incurred by Tenant in connection with the Premises or the business conducted thereon, including, without limitation:
Formula for Calculation. NS = ▇ / (▇*▇▇ / (▇▇ + ▇▇)) [▇. NS = L / P 2. P = 5*NI / (ES + NS)] Assumptions: L = $39.375M (based on $35.0M at 12.5% per annum) ES = 115,170,000 NI = $32M Applying the formula above: NS = $39.375M / (5*$32.0M / (115.17M + NS)) Step 1: Multiply the right side of the equation by (115.17M + NS) / (115.17M + NS): NS = $39.375M * (115.17M + NS) / (5*$32.0M) ® $39.375M * (115.17M + NS) / $160.0M Step 2: Divide the numerator by the denominator: NS = 0.246 * (115.17M + NS) Step 3: Multiply through on the right side: NS = 28.34M + .246NS