Profits or Losses Clause Samples

Profits or Losses. The net income or loss of the Company for federal income tax purposes as finally determined by the Company’s accountants for each fiscal year of the Company, as well as, where the context requires, related federal tax items such as tax preferences and credits, in each case appropriately adjusted with respect to final determination of any of the foregoing for federal income tax purposes.

Profits or Losses. The Partnership's net taxable income or loss for a Fiscal Year, as computed for federal income tax purposes (including all items of Partnership income, gain, loss or deduction regardless of whether such items are required to be separately stated under Section 702(a) of the Code), with the following adjustments: (i) Any income of the Partnership that is exempt from federal income tax and not otherwise taken into account in determining Profits or Losses shall be added to such Profits or Losses; (ii) Any expenditures of the Partnership described in Section 705(a)(2)(B) of the Code or treated as Section 705(a)(2)(B) expenditures pursuant to Regulation Section 1.704-1(b)(2)(iv)(i) and not otherwise taken into account in computing Profits or Losses shall be subtracted from such Profits or Losses; (iii) In any case where, in accordance with Regulation Section 1.704-1(b)(2)(iv)(e) or (f), Partnership property is revalued on the books of the Partnership to reflect its fair market value, the amount of such upward or downward adjustment (to the extent not previously taken into account) shall be taken into account as gain or loss from a taxable disposition of such property for purposes of computing Profits or Losses; (iv) Gain or loss resulting from any disposition of Partnership property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Book Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from such Book Value; (v) In lieu of the depreciation, amortization and other cost recovery deductions taken into account for federal income tax purposes, Depreciation as defined herein shall be taken into account in computing Profits or Losses; and (vi) Notwithstanding any other provision of this definition, Nonrecourse Deductions, Partner Nonrecourse Deductions and any items of income, gain, loss or deduction which are specially allocated pursuant to subsections C, E or F of Section 5.05(a) below shall not be taken into account in computing Profits or Losses.

Profits or Losses. Profits" or "Losses," as the case may be, for any period, means an amount equal to the Company's Taxable Income or Taxable Loss for such period, with the following adjustments:

Profits or Losses. SB and Qmed will share in any profits (i.e., revenues in excess of reimbursable expenses) or losses (i.e., reimbursable expenses in excess of revenues generated from the provision of the ohms|cad service under this Agreement) [CONFIDENTIAL]. While funds received from Customers will initially be distributed according to the priorities set forth in Section 8 below, at the expiration or termination of this Agreement, a reconciliation will be made between costs incurred by each party, the profits or losses allocable to each party, and the amount of distribution each party has received in order to assure that the funds received by a party out of the revenues received from Customers equals the total of that party's' reimbursable expenses plus or minus, as the case may be, its [CONFIDENTIAL] of such profit or loss.

Profits or Losses. Profits and Losses for each taxable year shall be allocated among the Partners and shall be credited or debited to the respective Capital Accounts so that, to the maximum extent possible, the balance of each Partner's Capital Account at the end of any taxable year (increased by the sum of such Partner's share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Section 1.704-2) would be positive in the amount of cash that such Partner would receive (or negative in the amount of cash that such Partner would be required to contribute to the Partnership) if each member of the ▇▇▇▇▇▇▇ Group sold all of its property for an amount of cash equal to the Gross Asset Value of such property (reduced, but not below zero, by the amount of Nonrecourse Liabilities to which such property is subject) and all of the cash of the Partnership and each member of the ▇▇▇▇▇▇▇ Group remaining after payment of all liabilities (other than Nonrecourse Liabilities) of the Partnership and each member of the ▇▇▇▇▇▇▇ Group were distributed in liquidation of each such entity immediately following the end of such taxable year. For purposes of calculating the distribution that would be made to the Partners pursuant to the hypothetical liquidation described in the preceding sentence, (i) Section 15.2.C shall be applied as if such hypothetical liquidation occurred in connection with the liquidation of the ▇▇▇▇▇▇▇ Group (so that the hypothetical liquidating distribution to the Partners shall be calculated under Sections 8.4 and 8.5) and (ii) Section 8.4 shall be applied as if the Consolidated Distributed Cash for the taxable year ending with such hypothetical liquidation equaled the amount of cash that would be distributed to the holders of Common Stock and Units (other than Units held by the General Partner) in such hypothetical liquidation (without regard to the actual market price or fair market value of the Common Stock).

Profits or Losses. If the Company's taxable federal income or taxable loss for a taxable year, as adjusted in the manner provided in subparagraphs (i) through (iv) below, is a positive amount, that amount shall be the Company's "PROFIT" for the taxable year; and if negative, that amount shall be the Company's "LOSS" for the taxable year. For each taxable year, the Company's taxable income or taxable loss for such taxable year, as determined under Section 703(a) of the Code and Treasury Regulations Section 1.703-1 (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or taxable loss), but with the following adjustments: 1.1.33.1 Any tax-exempt income, as described in Section 705(a)(1)(B) of the Code, realized by the Company during the taxable year shall be taken into account in computing such taxable income or taxable loss as if it were taxable income. 1.1.33.2 Any expenditures of the Company described in Section 705(a)(2)(B) of the Code for the taxable year, including any items treated under Treasury Regulations Sec. 1.704-1(b)(2)(iv)(i) as items described in Section 705(a)(2)(B) of

Profits or Losses. 9.1 The net operating income and net operating loss of the Joint Venture shall be allocated between and shared by the Joint Venturers in proportion to their percentage ownership interests in the Joint Venture.

Profits or Losses. After giving effect to the special allocations set forth in Sections 4.2 and 4.3, Profits or Losses shall be allocated 100% to DDI Holding, Inc. or its successor for the taxable year of the Company beginning January 1, 2001. For all other taxable years of the Company, Profits or Losses shall be allocated to the Interest Holders in proportion to their Percentages.

Profits or Losses. The profits or losses and value of net assets of each Group Member for the 3 consecutive financial years ending on the Accounts Date as shown by the Accounts (and by the previous audited accounts of each Group Member delivered to the Buyer) have not (except as disclosed in those accounts) been affected by the inclusion of non-recurring items of income or expenditure, by transaction entered into otherwise than on normal commercial terms or by any other factors rendering such profits or losses or value of net assets for any of such periods exceptionally high or low.