Net Basis definition

Net Basis means that Tenant pays for all operating expenses incurred for the Premises, without reference to any base year. If Tenant does not exercise its option to lease the applicable ROFR Premises within 20 Business Days after receipt of a First Refusal Notice for such ROFR Premises, then Landlord may enter into a lease with a third party for the subject ROFR Premises upon the same material terms stated in the First Refusal Notice. Landlord shall again comply with the terms of this Right of First Refusal prior to entering into a lease of the subject ROFR Premises with a third party. This shall be a continuing Right of First Refusal, and, provided that Tenant is not in uncured default, shall apply to any new lease of the ROFR Premises during the Term (but shall not, however, apply to renewals or extension rights set forth in leases in existence as of the Effective Date). Further, with respect to existing tenants located in the ROFR Premises which do not have a renewal or extension right set forth in their applicable lease, Landlord may negotiate with such existing tenant a renewal or extension of their existing lease provided that Landlord shall have first given Tenant an opportunity to exercise the Right of First Refusal with respect to such ROFR Premises as described in this Section 2 which such opportunity must be delivered to Tenant no earlier than twelve (12) months, nor later than nine (9) months, prior to the end of the existing tenant's lease expiration date. Notwithstanding anything herein to the contrary, (i) Tenant shall not be entitled to the Right of First Refusal during the last twelve months of the term of this Lease, and (ii) Tenant shall not be entitled to the Right of First Refusal if Tenant shall have assigned, sublet or otherwise transferred the Lease at any time, other than a Permitted Transfer or an Affiliate Transfer. The Right of First Refusal is personal to Tenant or the transferee of a Permitted Transfer or an Affiliate Transfer and cannot be transferred or otherwise assigned, and may only be exercised, when and if Tenant or a Permitted Transferee or an Affiliate Transfer is in physical occupancy of the entire Premises.

Net Basis means gross reserves allocable to the Subject Business, excluding any reserves for ULAE and any reserves for Extra Contractual Obligations (other than Reinsured Extra Contractual Obligations), less Third Party Reinsurance Recoverables, in each case as of the date of the determination.

Net Basis means that the Indebtedness component of the applicable leverage ratio shall be calculated net of unrestricted cash and Cash Equivalents (not exceeding $25,000,000 in the aggregate) of the Borrower and its Subsidiaries subject to a first priority lien in favor of the Administrative Agent, for the benefit of the Secured Parties, pursuant to a Control Agreement; provided, however, that the foregoing perfection and priority requirement shall be disregarded during the timeframe provided under Section 4.15 to obtain control agreements.

Examples of Net Basis in a sentence

• Where we only administer the contracts between our clients and the clients' retail pharmacy networks we record as revenues only the administrative fee we received from our activities (the Net Basis).

• Margin analysis is not indicative of profitability -- margins are greatly impacted by the transfer of clients to pharmacy networks managed by us (Gross Basis) from the clients' network (Net Basis).

• When we process claims for a client's pharmacy network, all we record as revenue is an administrative fee (Net Basis).

• Such corporation shall sig- nify its election to be subject to tax on such a basis by filing Form 1120 clearly marked at the top of the first page there of as follows: ‘‘Return of Swiss Corporation Electing to File on a Net Basis Pursuant to Article IX of Swiss Income Tax Convention’’.

• Such non- resident alien (including an individual, fiduciary, and member of a partner- ship) shall signify his election to be subject to tax on such a basis by filing Form 104B clearly marked at the top of the first page thereof as follows: ‘‘Re- turn of Resident of Switzerland Elect- ing to File on a Net Basis Pursuant to Article IX of Swiss Income Tax Con- vention’’.

• The following table presents the Net Basis of Investments included in the “Estimated Fair Value of Net Investment” table above by their rating classification.

• Applicable Percentage with Respect to Foreign Income Taxes that are Not Net Basis TaxesThe proposed regulations provide that no deduction or credit is allowed for the applicable percentage of net basis taxes imposed on a United States citizen by the citizen’s jurisdiction of residence upon receipt of a distribution of section 965(a) previously taxed earnings and profits or section 965(b) previously taxed earnings and profits.

• R1.51A Total Operating Expenses [Direct Basis] Calculated: Rows 6 + 15 + 19 + 24 + 25 + 28 + 31 + 50 R1.51B Total Operating Expenses [Net Basis] Calculated: Rows 6 + 15 + 20 + 24 + 25 + 28 + 31 + 50 R1.52A Net Operating Income (Loss) [Direct Basis] Calculated: Row 5A - Row 51A R1.52B Net Operating Income (Loss) [Net Basis] Calculated: Row 5B - Row 51B R1.53 Net Investment Income Report the net investment income for the reporting period.

• Furthermore, the Port rents most properties on a Triple Net Basis and has limited ability to fund tenant improvement costs upfront in contrast to private landlords who may provide a significant tenant improvement allowance to incentivize occupancy.

• However, the Company’s carried “Losses” and “Loss adjustment expenses” reserves are near the low end of the Company’s independent actuary’s range of estimates, as illustrated below: Net Basis While companies may carry reserves at any point within the actuarial range, there is an expectation that management justify and support the rational for carrying reserves at a point below the actuary’s central estimate.

More Definitions of Net Basis

Net Basis means, with respect to the exercise of an option or warrant, in lieu of the payment of the applicable per share exercise price in cash, the conversion of such option or warrant into a number of shares of the stock subject to such option or warrant equal to: S * (V-X)/V, where S is the number of shares of stock subject to such option or warrant, V is the fair market value of each such share, and X is the applicable per share exercise price.

Net Basis means gross reserves allocable to the Subject Business, excluding any reserves for ULAE and any reserves for Extra Contractual Obligations (other than Reinsured Extra Contractual Obligations), less Third Party Reinsurance Recoverables, in each case as of the date of the determination. “Aspen” has the meaning set forth in the Preamble. “Aspen Annual Investment Return” means, with respect to each Crediting Interest Rate Period, the total return on the total investments and cash and cash equivalents of Aspen Parent and all of its subsidiaries during such Crediting Interest Rate Period, in each case, as set forth on the books and records of Aspen Parent. For the avoidance of doubt, such return shall include all net investment income and realized and unrealized gains and losses during each such respective period. “Aspen Parent” has the meaning set forth in the Preamble. “Base Crediting Interest Rate” means a rate of 1.75% per annum, compounded daily. “Base Crediting Interest Rate Accrued Amount” means, with respect to any period, the amount of interest accrued on the applicable Prior Funds Withheld Account Balance Average if interest accrued on such amount at the Base Crediting Interest Rate. “Books and Records” means originals or copies of all records and all other data and information (in whatever form maintained) in the possession or control of Aspen or its Affiliates to the extent relating to the Subject Business or the Reinsured Policies, including (a) administrative records, (b) claim records, (c) policy files, (d) sales records, (e) files and records relating to Applicable Law, (f) underwriting records and (g) accounting records, but excluding (i) Tax Returns and Tax records and all other information and data with respect to Tax, (ii) files, records, data and information with respect to employees, (iii) records, data and information with

Net Basis means net of any approved reinsurance as per sectioniv.5;

Net Basis. The Contractual Partner shall, where no use by the client has been agreed, receive the datasets from the generation process for comparison with his own databank or the databank of his client (provided this is permissible under data protection law). In the case of agreement on use by the client, the client will receive the data for comparison with his own databank. The Contractual Partner will pay for the new or net datasets, which means for such datasets as are not already present in his databank or in the databank of his client. For this purpose, a dataset will already be deemed as new or net if it is only the agreed advertising channel (Email, Telephone, Post or SMS), via which the user is to be contacted, that was absent from the databank of the Contractual Partner or that of his client (hereinafter “Net dataset “). Hence, a dataset should, for example, already be viewed as a net dataset if all the other parameters in the dataset are identical, except for the email address, but it is precisely via the email address that the user is to be contacted. This applies correspondingly for the advertising channels telephone, post and SMS. The Contractual Partner is obliged to report to eGENTIC the net datatsets obtained in this way. If the Contractual Partner or - in the case of a stipulated supply to a client - the client has not sent any report to eGENTIC two weeks after receipt of the data Delivery, eGENTIC shall from that date have the right to submit to the Contractual Partner a charge using a minimum charge rate of 95% of the original order.

Net Basis shall have the meaning set forth in Section 6.8 hereof.