Net Earnings Clause Samples
The Net Earnings clause defines how the actual profit or income is calculated after deducting all relevant expenses from gross revenue. In practice, this clause specifies which costs—such as taxes, operating expenses, and other deductions—are subtracted to arrive at the net figure, and may outline the timing and method for reporting or distributing these earnings. Its core function is to ensure transparency and fairness in financial reporting, preventing disputes by clearly establishing what constitutes net earnings for the parties involved.
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Net Earnings. Upon request by an Employee, his 'converted overtime to leave' will be shown on his pay statement.
Net Earnings. While any part of the Indebtedness remains unpaid, the Borrower shall, unless waived in writing by the Lender, demonstrate Net Earnings of: (i) not more than a negative Two Hundred Thirty-Four Thousand Dollars (<$234,000.00>) for the quarter ending June 30, 2006, (ii) not more than a negative One Hundred Eighty-Four Thousand Dollars (<$184,000.00>) for the quarter ending September 30, 2006, (iii) not more than a negative One Hundred Twenty-Five Thousand Dollars (<$125,000.00>) for the fiscal year ending December 31, 2006, (iv) not more than a negative One Hundred Thousand Dollars (<$100,000.00>), year to date, for each quarter ending March 31st, commencing March 31, 2007, (v) not less than Seventy-Five Thousand Dollars ($75,000.00), year to date, for each quarter ending June 30th, commencing June 30, 2007, (vi) not less than One Hundred Twenty-Five Thousand Dollars ($125,000.00), year to date, for each quarter ending September 30th, commencing September 30, 2007, and (vii) not less than One Hundred Fifty Thousand Dollars ($150,000.00) for each fiscal year thereafter ending December 31st, commencing on December 31, 2007. In calculating this covenant, the non-cash goodwill impairment for American of up to One Million Three Hundred Twenty-Nine Thousand Dollars ($1,329,000.00) shall be excluded.
Net Earnings request by an employee 'converted over- will be shown on his pay statement. by mutual agreement between the parties. Canadian' Merchant Service Guild, West Vancouver, B C Dear Sir Section of ARTICLE (RECOGNITION) provides in part that should a fail or neglect by the terms of our Collective Agreement the Company will be liable to the Guild members concerned for unpaid wages and other monetary benefits. During the course of negotiations it was agreed that a six (6) month limitation should apply to any claims that might arise out of such third party arrangements. In words, in the event that a company chartered a vessel to a third party who failed to meet his obligations under the Agreement terms, a Guild member with a valid claim would be obliged to register his claim with us not later than six months from the date the claim first arose. It is understood that a claim instituted beyond this point in time will not be recognized. Canadian Merchant Service Guild W e s t Broadway Vancouver, C Dear Sir:
Net Earnings. AHLHC shall report net earnings for any six rolling calendar months of less than $1.00 on a consolidated basis in accordance with GAAP.
Net Earnings. The term “Net Earnings” shall mean Adjusted Gross Revenue minus the sum of the following: (i) any refunds owed to patients by the Practice, (ii) any unpaid or past due compensation owed to Professional Business Manager pursuant to Section 5.1 hereof and to Retail Business Manager pursuant to the Retail Business Management Agreement, (iii) all Office Expenses, (iv) all Dispensary Expenses, (v) all Practice Expenses and (vi) all Shareholder Expenses up to an amount equal to One Hundred Thirty Nine Thousand Dollars ($139,000.00) on an annualized basis multiplied in the case of years ending after December 31, 1998 by the Inflation Adjustment. Net Earnings associated with an individual Office, Dispensary, or Practice location shall be determined using the amount of the foregoing items which is attributable to such Office, Dispensary, or Practice location. To the extent such amount is not susceptible to precise calculation, it shall be determined based on the proportion the Adjusted Gross Revenue attributable to such Office, Dispensary, or Practice location bears to the Adjusted Gross Revenue of the Practice.
Net Earnings. Permit Net Earnings for any fiscal year of the Company to be less than $1.
Net Earnings. All earnings or other income received from the investments and reinvestments provided in Section 2(d), less losses and commissions, if any, incurred on or in making such investments and reinvestments (such net amount being herein referred to as "Net Earnings"), shall become part of the MAXXAM/CMRT Escrow Deposit or the MAXXAM/NL Escrow Deposit, as the case may be, and shall be disbursed as part of the MAXXAM/CMRT Escrow Deposit and the MAXXAM/NL Escrow Deposit in accordance with Section 2(i) hereof. Without limiting the foregoing, the Escrow Agent will not make any payment or distribution of the Net Earnings or the Escrow Deposits referred to in Section 2(a), Section 2(b) and Section 2(c), above, (collectively referred to as the "Escrow Deposits"), except as and in the manner expressly provided by this Agreement. Each party to this Agreement other than the Escrow Agent has provided a taxpayer identification number to the Escrow Agent on the signature page to this Agreement.
Net Earnings. While any part of the Obligations remains unpaid, the Borrower shall, unless waived in writing by the Lender, demonstrate Net Earnings of not less than One Hundred Thousand Dollars ($100,000) on its internally prepared financial statements for the six months ending November 30, 1996 and each six-month period thereafter.
Net Earnings. Monthly Net Earnings" shall mean (a) gross revenues from all sources relating to the operation of the Dealerships ("Gross Revenues"), less (b) all cost of sales; general and administrative expenses; salaries, bonuses, commissions, and other compensation; depreciation; amortization; interest; dealership overhead; and the sum of $25,000.00 per month as and for the portion of Cross-Continent Auto Retailers, Inc.'s (the "Parent") corporate overhead charged to the Dealerships; but before income taxes. Monthly Net Earnings shall be calculated on the accrual method of accounting and determined by the Parent's accounting staff in accordance with generally accepted accounting principles.
Net Earnings. 706,619 ----------- $ 1,688,700 ----------- ----------- 650,007 ----------- $ 1,516,683 ----------- ----------- 544,104 ----------- $ 1,399,126 ----------- ----------- Earnings Per Common Share. . . . . . . . . . . . . . Average Number of Common Shares Outstanding. . . . . $2.12 ----------- ----------- 795,362,000 ----------- ----------- $1.87 ----------- ----------- 812,236,000 ----------- ----------- $1.69 ----------- ----------- 828,988,000 ----------- ----------- The accompanying notes to consolidated financial statements are an integral part of this statement. 1995 ---------- 1994 ---------- 1993 ---------- Cash Flow From (Used in) Operating Activities: Net earnings . . . . . . . . . . . . . . . . . . . $1,688,700 $1,516,683 $1,399,126 Adjustments to reconcile net earnings to net cash from operating activities - Depreciation and amortization. . . . . . . . . . . 566,423 510,504 484,081 Exchange (gains) losses, net . . . . . . . . . . . 5,035 8,600 41,795 Investing and financing (gains) losses, net. . . . 43,020 21,834 (6,038) Trade accounts payable and other liabilities . . . 256,549 360,216 96,095 Income taxes payable . . . . . . . . . . . . . . . (153,849) 139,921 279,550