Consolidated Turnover definition

Consolidated Turnover means the Consolidated turnover as reported in the audited consolidated financial statements of the Company for the year ended immediately preceding the determination of materiality of an event or information under this Policy.

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Consolidated Turnover means the consolidated turnover of the Parent and its Subsidiaries attributable to the period in question

Consolidated Turnover means the revenues, e.g., premiums excluding interest, sale of small tangible assets, exchange differences, etc., of Holdings for a financial year impacted by a Notoriety Index. “Control” (including, with correlative meaning, the terms “Controlling” and “Controlled”) means with respect to any Person, the possession, directly or indirectly, of the power to elect a majority of the board of directors (or other governing body) or to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, or similar ownership interests, including any securities or similar ownership interests which are voting only upon the occurrence of a contingency where such contingency has occurred and is continuing, by contract or otherwise.

Examples of Consolidated Turnover in a sentence

The turnover of parent company/group company/subsidiaries or Consolidated Turnover shall not be considered.
In case of advance payment of Management Fees, these shall be calculated in accordance with Paragraph 1 of this Article 13, by accruing the Management Fee rate on a reference base equal to the Consolidated Turnover for the last audited annual financial statements of the Owner.
Service Provider shall arrange for a promotion and advertising budget at the end of each fiscal year which will amount up to 5% of Consolidated Turnover.
While Service Provider will endeavor to direct and supervise the management and operation of the Hotels within the Operating Budget, Owner agrees that Service Provider does not warrant or represent in any way, in whole or in part, that Consolidated Turnover or GOP as budgeted will be met or exceeded, or that expenses will not be exceeded.
For each year of the whole Term of the Agreement (and proportionally for each part of the year), the Owner shall owe to the Service Provider a fee (“Management Fee”) to the amount of 15 % (fifteen per cent) of the Consolidated Turnover.

More Definitions of Consolidated Turnover

Consolidated Turnover means, with reference to any period, the turnover of the Group for such period, as disclosed in the consolidated financial statements of the Group most recently prepared before the time when the determination thereof is being made as required by and in accordance with the terms hereof.

Consolidated Turnover as used in this Agreement shall collectively mean all income and proceeds of sales of every kind (whether in cash or on credit) resulting from the operation of the Hotels and all of the facilities therein including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires, and other persons occupying space at the Hotels and/or rendering services to the Hotels’ guests, all income from catering operations conducted outside any of the Hotels. Consolidated Turnover shall however exclude Value Added Tax, similar turnover taxes and levies and any other direct rooms or room sales related taxes fees or levies.