Net Profit. The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.
Net Profit. Net Profit shall be allocated to the Members in proportion to their Percentage Interests.
Net Profit. All Net Profit of the Company for each Fiscal Year shall be allocated to the Members as follows:
Net Profit. After giving effect to the special allocations set forth in Sections 6.4, 6.5 and 6.9, all Net Profit shall be allocated to the Members’ Capital Accounts in the following manner and order of priorities:
Net Profit. Except as otherwise provided herein, Net Profit for any fiscal year or other applicable period shall be allocated in the following order and priority:
Net Profit. The current and accumulated operating earnings of the Employer before Federal and State income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other qualified plan of the Employer. Unless otherwise specified in the Adoption Agreement, profits will not be required for Profit-Sharing contributions to the Plan.
Net Profit. The gross revenue of the Entity, less all operating and non-operating expenses of the Entity, all determined in accordance with generally accepted accounting principles and the provisions of N.J.S.A. 40A:20-3(c).
Net Profit. The Borrowers shall earn a minimum Consolidated Net Income, as determined in accordance with GAAP, of at least $1.00, measured quarterly as of the end of each fiscal quarter of each fiscal year on a cumulative basis as and for each such fiscal year.” and substituting the following text therefor:
Net Profit. Except as provided in Section 8.03, Net Profit of the Fund shall be allocated for Fund tax and accounting purposes, in the following order and priority:
Net Profit. Net Profit of the Company for each ---------- taxable year shall be allocated as follows:
