After Tax Net Income shall have the meaning set forth in Section 4.11.
After Tax Net Income means the Company’s net income after taxes for the six (6) month period ending December 31, 2010 determined in accordance with GAAP as reported in the 2010 Report with adjustments described in this paragraph below. Notwithstanding the foregoing or anything else to the contrary herein, for purposes of determining whether the 2010 Guaranteed ATNI has been met, (i) non-operating expenses incurred as a result of the Company’s U.S. public company status shall be excluded (i.e., filing fees, costs for hiring independent directors (including compensation for such independent directors and costs for directors’ and officers’ insurance coverage in an amount and scope that is customary for an entity of the Company’s size and nature), and hiring of investor relations firm, independent auditor and U.S. securities counsel), and (ii) expenses and/or other charges relating to the release of any of the Escrow Shares as a result of the operation of this Section 4.7 shall not be deemed to be an expense, charge, or any other deduction from revenues even though GAAP may require contrary treatment or the 2010 Report filed with the Commission by the Company may report otherwise. If prior to the first anniversary of the filing of the 2010 Report, the Company or their auditors report or recognize that the financial statements contained in such report are subject to amendment or restatement such that the Company would recognize or report adjusted 2010 Reviewed ATNI of less than the 2010 Guaranteed ATNI, then notwithstanding any prior return of the Escrowed Shares to the Make Good Pledgor, the Make Good Pledgor will, within 10 Business Days following the earlier of the filing of such amendment or restatement or recognition, deliver the relevant 2010 Make Good Shares to the Make Good Beneficiaries without any further action on the part of the Make Good Beneficiaries. If the 2010 Reviewed ATNI equals or exceeds the 2010 Guaranteed ATNI, all shares comprising the Escrow Shares shall be returned immediately to the Make Good Pledgor without further action by any Make Good Beneficiary. If the 2010 Reviewed ATNI is less than the 2010 Guaranteed ATNI and the total number of 2010 Make Good Shares to be transferred to the Make Good Beneficiaries is less than the total number of Escrow Shares, the remaining number of Escrow Shares shall be returned immediately to the Make Good Pledgor without further action by any Make Good Beneficiary.
After Tax Net Income means the Company’s income after taxes for the fiscal year ending December 31, 2008 or December 31, 2009 (as the case may be) in each case determined in accordance with GAAP as reported in the 2008 Annual Report or 2009 Annual Report (as relevant).
Examples of After Tax Net Income in a sentence
The Investor Agent will provide such written instructions upon review of the relevant After Tax Net Income amount reported in such periodic financial reports as specified in Section 4 hereof.
The Investor Agent will provide such written instructions upon review of the relevant After Tax Net Income and Earnings Per Share amount reported in such periodic financial reports as specified in Section 4 hereof.
In the event that the After Tax Net Income for 2010 calculated based upon the figures as reported in the Annual Report of the Company for the fiscal year ending December 31, 2010 (the “2010 Financial Statements”) as filed with the SEC, is more than 70% of RMB 100.0 million (the “2010 Target Net Income”), the Escrow Agent shall deliver to the Make Good Pledgor, one-third (1/3) of the Escrow Shares then being held by the Escrow Agent.
Net Income After Tax Net Income Before TaxTable-4.1: Tax Management Ratio In million (Source: JBL Annual Report: 2010-2014) Tax Management RatioFig- 4.1: Tax Management Ratio(Author’s Compilation) Findings about Tax Management Ratio We can observe that from the year 2010 to 2014, the Tax Management ratio of Jamuna Bank has been fluctuating from 0.52 to 0.73.
The Parent shall maintain a Consolidated After Tax Net Income of not less than zero determined as of the end of each Fiscal Quarter for the most recently ended four Fiscal Quarters.
More Definitions of After Tax Net Income
After Tax Net Income means the Company’s income after taxes for the fiscal year ending December 31, 2010 or December 31, 2011 (as applicable) in each case determined in accordance with GAAP as reported in the 2010 Annual Report or 2011 Annual Report (as applicable). Extraordinary gains or losses or non-recurring gains or losses shall not be included in determining whether any of the 2010 Guaranteed EPS and 2011 Guaranteed EPS have been achieved. For purposes hereof, “Earnings Per Share” shall mean the Company’s After Tax Net Income (for the relevant fiscal year) divided by the weighted average number of shares of Common Stock of the Company outstanding during the calculation period, calculated on a fully diluted basis. Any transfer of the 2010 Make Good Shares and the 2011 Make Good Shares under this Section shall be made to the Investors or the Make Good Pledgor, as applicable, within 10 Business Days after the date which the 2010 Annual Report, or 2011 Annual Report, as applicable, is filed with the Commission and otherwise in accordance with this Make Good Agreement subject to return as provided in the immediately preceding paragraph and, in the event that any of the 2010 Make Good Shares, or 2011 Make Good Shares are required to be distributed to the Investors in accordance with the terms of this Agreement, the Escrow Agent will deliver such shares to the Investors in accordance with Exhibit A. The Investor Agent will deliver to the Escrow Agent (with a copy to the Company) a copy of the 2010 Annual Report and 2011 Annual Report, together with the calculation of whether the 2010 Guaranteed EPS or 2011 Guaranteed EPS (as applicable) has been achieved. Escrow Agent need only rely on such letters from Investor Agent and will disregard any contrary or further calculations or instructions in such regard delivered by or on behalf of the Company.
After Tax Net Income for a Borrower means such Borrower's after-tax net income less extraordinary gains, as determined in accordance with GAAP.
After Tax Net Income means the Company’s operating income after taxes for the fiscal year ending December 31, 2011 determined in accordance with GAAP as reported in the 2010 Annual Report but shall exclude any accounting effect (positive or negative) caused by the Escrow Shares or the return or cancellation thereof, including any potential derivative liability.
After Tax Net Income means the Company’s income after taxes determined in accordance with GAAP as reported in the Company’s Annual Report on Form 10-K for fiscal years 2008 or 2009, as applicable.
After Tax Net Income means the Company’s operating income after taxes for the fiscal year ending March 31, 2011 or March 31, 2012 (as applicable) in each case determined in accordance with U.S. generally accepted accounting principles (“GAAP”) as reported in the 2011 Annual Report or 2012 Annual Report (as applicable).
After Tax Net Income means income after income taxes determined in accordance with GAAP plus (a) any cash or non-cash charges relating to the transaction contemplated by this Agreement and the Registration Rights Agreement, and (b) any cash or non cash charges for derivative instruments, or arising out of any non cash compensatory awards made to officers, directors, employees or consultants. If (i) the Company’s audited consolidated financial statements for the fiscal year ended December 31, 2008 as reported in the 2008 Annual Report indicates that the 2008 Guaranteed ATNI has been achieved or exceeded, and (ii) if the Company’s 2008 Annual Report does not disclose a “Material Weakness,” no transfer of the 2008 Make Good Shares to the Investors shall be required by this Section and all 2008 Make Good Shares deposited with the Make Good Escrow Agent (as defined in the Make Good Escrow Agreement) shall be returned to the Company in accordance with the Make Good Escrow Agreement. Transfers of 2008 Make Good Shares required under this Section shall be made to Investors within ten Business Days after the date which the 2008 Annual Report is filed with the Commission and otherwise in accordance with the Make Good Escrow Agreement. Notwithstanding anything to the contrary contained herein, in the event that the release of any 2008 Make Good Shares to the Investors or the Company is deemed to be an expense or deduction from revenues or income of the Company for the fiscal year ended December 31, 2008, as required under GAAP, then such expense or deduction shall be excluded for purposes of determining whether or not the 2008 Guaranteed ATNI has been achieved by the Company.
After Tax Net Income means the amount of net income Borrower would have generated had Borrower's net income been subject to tax at the rate which actually applies to the net income of Borrower during the period to which such calculation relates; (B) "PERMITTED AMOUNT OF DISCRETIONARY DIVIDENDS" for any given fiscal year of Borrower shall mean the sum of (i) fifty percent (50%) of the amount, if any, by which the After-Tax Net Income of Borrower for Borrower's prior fiscal year (as set forth in the audited financial statements of Borrower delivered to the Lenders pursuant to of this Agreement) exceeds the Permitted Amount of Non-Discretionary Dividends for such prior fiscal year and (ii) the amount of the Borrower's Prior Year Dividend Account on the first day of the fiscal year of Borrower as to which the calculation of Permitted Amount of Discretionary Dividends is made; (C) "PERMITTED AMOUNT OF NON-DISCRETIONARY DIVIDENDS" for any given fiscal year of Borrower shall mean the amount of taxes that would otherwise have been payable by Borrower with respect to its net income during such fiscal year had Borrower not been part of a consolidated group; and (D) "PRIOR YEAR DIVIDEND ACCOUNT" shall mean an account which shall begin on the date of this Agreement at $855,557 (0), and which shall increase by the amount, if any, by which the Permitted Amount of Discretionary Dividends in a given fiscal year of Borrower (commencing its fiscal year ending December 31, 199___) exceeds the amount of dividends actually paid by Borrower in such fiscal year in excess of the Permitted Amount of Non-Discretionary Dividends for such fiscal year, and which shall decrease by the amount of any dividends actually paid by Borrower in such fiscal year which are attributable to the Prior Year Dividend Account.