Reference Income Sample Clauses

Reference Income. The Buyer shall prepare an income statement ("Compte de Resultat") of F&P for the 12-month period ending 31 December 1999 (the "Income Statement"). The Income Statement shall be prepared according to accounting principles generally accepted in France and historically applied by F&P in a manner consistent with the constant, usual and current practices and policies as adopted during the previous fiscal years (hereafter the "GAAP"). The GAAP shall apply to the following paragraphs of Section 1.3.1 and shall encompass the specific rules/methods in force within F&P including the rules/method applicable to the calculation of the inventory reserves. On the basis of the Income Statement, the Buyer shall calculate the reference income ("Reference Income") which will be determined in accordance with the following calculation, based on the relevant lines of the French tax return form n(degree) 2050 through 2053 (1998 edition), and duly adjusted on the conditions set out below : - line GG (+) line GA (-) line HJ (-) line GR (to the extent of discounts given for early payment as set out in account number 665000 of F&P's books) (-) the reversal of provisions recorded in the balance sheet as at 31 December 1998 and no longer applicable, as recorded in line FP (excluding reversal of inventory provisions), it being specified that : * the expenses and incomes relating to prior fiscal years (excluding those relating to inventory) affecting the above enumerated lines shall be neutralized, and * all positive and negative elements known on 31 March 2000 which would not have been accounted for in the Income Statement shall be taken into consideration, - plus (i) the net charges incurred by F&P which shall have been effectively compensated by indemnification paid to the Buyer under Section 6 of this Agreement, and (ii) the rent for the premises currently owned by F&P and which shall be the subject of the distribution procedures referred to in Section 5.5 below, i.e. the sum of FF 1,500,000,
Sample 1
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Related to Reference Income

  • ALLOCABLE INCOME To determine the amount of the corrective distribution required under this Section 14.09, the Advisory Committee must calculate the allocable income for the Plan Year in which the excess aggregate contributions arose. "Allocable income" means net income or net loss. The Advisory Committee will determine allocable income in the same manner as described in Section 14.08(F) for excess contributions.

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

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

  • Interest Expense For any period with respect to Parent Borrower and its Subsidiaries, without duplication, (a) interest (whether accrued or paid) actually payable (without duplication), excluding non-cash interest expense but including capitalized interest not funded under a construction loan, together with the interest portion of payments actually payable on Capitalized Leases, plus (b) Parent Borrower’s and its respective Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period.

  • Imputed Income The Bank shall impute the economic benefit to the Executive on an annual basis, by adding the economic benefit to the Executive’s W-2, or if applicable, Form 1099.

  • Interest Income Prior to the Company’s consummation of a Business Combination or the Company’s liquidation, interest earned on the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company and up to $100,000 for liquidation expenses, all as more fully described in the Prospectus (as defined below).

  • Consolidated EBITDA With respect to any period, an amount equal to the EBITDA of REIT and its Subsidiaries for such period determined on a Consolidated basis.

  • Interest Charges Overdue payments may, at the sole discretion of SYSTEM, be subject to a daily charge commencing on the 31st day after such payment is due, compounded monthly, at the rate of either one and one-half percent (1.5%) per month or the highest legal interest rate, whichever is lower. The payment of such interest will not foreclose SYSTEM from exercising any other rights it may have as a consequence of the lateness of any payment.

  • Funds from Operations As defined by the National Association of Real Estate Investment Trusts, Funds From Operations means net income computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures in which the REIT holds an interest.

  • Reference Period As of any date of determination, the period of four (4) consecutive fiscal quarters of the Borrower and its Subsidiaries ending on such date, or if such date is not a fiscal quarter end date, the period of four (4) consecutive fiscal quarters most recently ended (in each case treated as a single accounting period).

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