Shared Profits Sample Clauses

Shared Profits. Lessor and Lessee also desire to clarify the provisions of Paragraph 11.3 of the Lease regarding the sharing of profits on an assignment of the Lease by Lessee or a sublet of all or a portion of the Premises by Lessee. Accordingly, Paragraph 11.3 of the Lease shall not apply to any sublease or assignment by Lessee to an Affiliate of Lessee, Permitted Assignee, a Lessee Contractor or an Excluded Subtenant. Subject to such exclusion, the fourth (4th) sentence of Paragraph 11.3 of the Lease is hereby revised to provide that Lessee shall pay Lessor an amount equal to fifty percent (50%) of the net profits (as described in Paragraph 11.3 of the Lease) (i) on subletting, either monthly or annually at the option of Lessee, and (ii) on an assignment, as received by Lessee. For purposes hereof, “net profits” shall mean the total rent or other monetary consideration received from the assignee or sublessee during the assignment or sublease term (“Gross Sublet Proceeds”), less: the sum of (A) the Adjusted Base Rent paid to Lessor by Lessee during the period of the assignment or sublease term for the space covered by the assignment or sublease (“Transferred Space”); (B) any tenant improvement allowance or free rent paid or given by Lessee to its assignee or sublessee (excluding any personal property allowances, donations or contributions); (C) broker’s commissions; (D) reasonable attorneys’ fees; (E) lease takeover payments; (F) costs required to be paid by Lessee to Lessor in connection with such assignment or sublease; and (G) costs of advertising the Transferred Space (collectively, the “Transaction Costs”); provided, however, Lessor shall not be paid any share of net profits until Lessee has recovered, from the excess of the Gross Sublet Proceeds received over the Adjusted Base Rent paid to Lessor by Lessee calculated under (A) above, all of the costs set forth in parts (B) through (G) above in connection with such Transferred Space. For example, if five (5) years then remain in the Term, and Lessee pays to Lessor $10,000,000 each year in rent for the Transferred Space during that period, and Lessee receives $11,000,000 in annual assignment or sublease rent for the Transferred Space during that period, and Lessee incurs $5,000,000 in Transaction Costs relating to the Transferred Space, there would be no net profits hereunder. If, however, for the same period, Lessee pays to Lessor $10,000,000 in rent for the Transferred Space, receives $11,000,000 in annual assignm...
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Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.
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Shared Profits. Upon the effective date of the termination of this Agreement, BMS shall not share any additional global Commercialization profits with respect to any Product after the effective date of the termination of this Agreement.
Sample 1

Related to Shared Profits

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

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority:

  • 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:

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

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

  • Operating Losses To the extent there is an Operating Loss for any calendar month, Owner shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after Manager has delivered notice thereof to Owner and any Operating Loss funded by Owner shall be a “Owner Operating Loss Advance.” If Owner does not fund such Operating Loss, Manager shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after such initial twenty (20) day period, and any Operating Loss so funded by Manager shall be an Additional Manager Advance. If neither party elects to fund such Operating Loss, Manager may elect, by notice to Owner given within thirty (30) days thereafter, to terminate this Agreement, which termination shall be effective thirty (30) days after the date such notice is given; upon such termination, Owner shall pay Manager the Termination Fee, within sixty (60) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity and such termination shall otherwise be in accordance with the provisions of Section 11.09.

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

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

  • 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.

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