Net Profits and Net Losses. “Net Profit” and “Net Loss” means, for each Fiscal Year of the Company (or other period for which Net Profit or Net Loss must be computed), the Company’s taxable income or loss determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement (Red Lion Hotels CORP), Limited Liability Company Agreement (Red Lion Hotels CORP)
Net Profits and Net Losses. “As used herein, the terms "Net Profit” Profits" and “Net Loss” means, Losses" mean for each Fiscal Year of the Company (fiscal year or other period for which Net Profit or Net Loss must be computed), an amount equal to the Company’s 's taxable income or loss for such fiscal year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:
Appears in 2 contracts
Samples: Operating Agreement (American Artists Entertainment Corp), American Artists Entertainment Corp
Net Profits and Net Losses. “As used herein, the terms "Net Profit” Profits" and “"Net Loss” means, Losses" mean for each Fiscal Year of the Company (fiscal year or other period for which Net Profit or Net Loss must be computed), an amount equal to the Company’s 's taxable income or loss for such fiscal year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:
Appears in 1 contract
Samples: American Artists Entertainment Corp
