Profit Split. Subject to the provisions in this Section 5, upon commercialization of the Product in the Territory, the Parties shall be entitled to a profit split of Adjusted Gross Profit in the Territory, wherein ETON shall pay to ANXXXXXX 00% of AGP (the “Profit Split”). Profit Split payments will be reconciled and calculated on a quarterly basis and will be paid no later than sixty (60) days after the end of the calendar quarter directly to ANXXXXXX xn accordance with Sections 5.5 and 5.6.
Profit Split. During the Term, Affymax and TPUSA shall split profits accrued from the Commercialization of the Product in the Co-Promotion Territory in accordance with Section 8.4 of the Collaboration Agreement.
Profit Split. Evidence that the existing profit split payment withheld by the Charterer is paid to the Sellers or settled as follows:
Profit Split. The Lease will provide that when Developer sells any Restaurant developed pursuant to this Agreement (“Restaurant”) and/or assigns the landlord’s interest in such Lease, (collectively, the Restaurant and Lease are sometimes called the “Property”), Developer will pay half of any “Excess Profit” to Granite City upon closing of the sale. Excess Profit is defined as the amount of the sales price for the Property in excess of the sum of “Expected Sales Price” and Costs of Sale. “Costs of Sale” means customary costs incurred to sell the Restaurant Property inclusive of transfer taxes, recording costs, title costs, due diligence costs incurred by Developer under the purchase agreement, brokerage commissions and legal fees. The Developer may select a related party as the broker for such sale. The Expected Sales Price is the annual Base Rent (as defined in the Lease) on the day the purchase agreement for the Property is fully executed divided by 8.25%. For example, a Restaurant that cost $2,450,000 would be leased to Granite City at 9.5% of the cost, or $232,750 annually. The terminal cap rate of 8.25% would imply an Expected Sales Price of $2,821,212 (i.e. $232,750/8.25%). The excess of any sale price above $2,821,212 would be split 50/50 between United and Granite City. If, for example the building sold at a cap rate of 7.5% or $3,103,333 (i.e. $232,750/7.5%) then each party would split the excess profit of $282,121 (i.e. $3,103,333 - $2,821,212). Any loss on the sale of a property would be borne solely by Developer.
Profit Split. In the event Landlord approves any Assignment or Sublease for which Landlord's consent is required, fifty percent (50%) of the excess, after deducting leasing commissions and tenant improvement costs applicable to such Sublease or Assignment, amortized over the term of such Sublease or Assignment, of the total amount of rent and other consideration paid under or in consideration for any such Sublease or Assignment over the Base Rent and Additional Charges payable hereunder, shall be payable to Landlord as Additional Charges.
Profit Split. The Parties hereby agree to amend Section 3.1 of the Joint Venture Agreement by inserting the following into Section 3.1 thereof immediately to precede the first sentence of Section 3.1: The provisions of this Article III shall only apply to the sharing of earnings and losses by the Parties after December 31, 1995.
Profit Split. As additional compensation for Employee’s services, Employee shall receive a distribution (“Distribution”) of a defined percentage of the EBITDA for the Company each calendar quarter according to a mutually agreed performance target (“Target”), as made an Exhibit to this Agreement. EBITDA is defined as the earnings before interest, depreciation, taxes, depreciation, and amortization and will be paid as reported by the Company’s accountant and as reviewed by the Company’s auditor. It will be accumulative on a quarter-to-quarter basis, that is, if one quarter has a negative EBITDA, that would be offset against the following quarter’s positive EBITDA distribution. The Employee has the option to accept the Distribution in either direct cash payment or shares of Issuer’s common stock, or any combination, at Employee’s option. Stock would be valued at the prior 10-day closing price and issued under SEC rule 144 restriction. Distribution Target Split is Defined as:
Profit Split. Commencing upon the First Commercial Sale of any such Product in the Territory, Celltrion shall pay Abpro fifty percent (50%) of the Profit, however, Celltrion shall retain seventy-five percent (75%) of the Profit until the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 and Third Party Collaborator Income retained by Celltrion in excess of fifty percent (50%) under Section 5.6 equals to eighty seven and a half percent (87.5%) of the Celltrion Development Costs. Once the total aggregate sum of all Profit Split retained by Celltrion in excess of fifty percent (50%) under this Section 5.4 and Third Party Collaborator Income retained by Celltrion in excess of fifty percent (50%) under Section 5.6 equals to eighty-seven and a half percent (87.5%) of the Celltrion Development Costs, Celltrion shall pay Abpro fifty percent (50%) of the Profit. Such amounts shall be payable commencing from the First Commercial Sale for so long as there are Net Sales of such Product. All payments due to Abpro under this Section 5.4, subject to the loss carryforward described in the “Profit” definition, shall be due and payable by Celltrion within sixty (60) days after the end of each Reporting Period, and shall be accompanied by a report as set forth in Section 6.3. 5.5 [NOT USED]
