Net Profits After Tax Sample Clauses

Net Profits After Tax a) Up to 35% of the Borrower's net income after tax, to the extent such amount exceeds the sum of all amounts paid to AMREP Corp. under subsection (3) above. This is a reduction from the 75% amount previously allowed and such reduction to 35% is defined as "Net Profits Retention". Any net income after tax attributed to subsection (4) above will be removed from net income prior to the calculation of such 35% formula. With respect to this provision, the calculation shall be made on a rolling twelve month basis, recalculated quarterly as of the end of each fiscal quarter of the Borrower. Amrep shall provide the Bank a complete accounting for distributions made, and for the allowable amount of distributions, within 60 days of each period end. In the event the maximum limit is exceeded due to a loss in the most recent quarter, Borrower shall be prohibited from making any additional distributions to Amrep Corp. under this subparagraph (4) until such time as the formula shall again allow for such distributions, but Amrep Corp. shall not be required to make a repayment of the prior distributions. If the maximum limit is exceeded for any other reason, Amrep Corp. shall immediately repay such excess amount to the Borrower, then
Sample 1
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Related to Net Profits After Tax

  • PROFITS/LOSSES For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • After-Tax Basis Indemnification under Section 11.1 and Section 11.2 shall be in an amount necessary to make the Indemnified Party whole after taking into account any tax consequences to the Indemnified Party of the receipt of the indemnity provided hereunder, including the effect of such tax or refund on the amount of tax measured by net income or profits that is or was payable by the Indemnified Party.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows:

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Net Profits Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:

  • Profits and Losses For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis in accordance with the manner determined by the Board. In each year, profits and losses shall be allocated entirely to the Member.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Profits Losses and Distributions A. Each Member shall share all profits and losses, pro rata, in proportion to the Member's Interest in the Company. A Member's Interest shall be defined as a Member's pro rata share of ownership in the Company.

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