Net Profit definition

Net Profit means such profit as is calculated in accordance with paragraph 61;

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Net Profit means the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely: -

Net Profit and “Net Loss” shall mean for each Fiscal Year or other period, an amount equal to the Company’s or Series’, as applicable, taxable income or loss for that year or period, determined in accordance with Code Section 703(a) (for these purposes, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

Examples of Net Profit in a sentence

• The Expert Accountant's fees will be payable by the Seller in the event that the Expert Accountant determines that the Relevant Net Profit for the First Earn-Out Period is less than or equal to the Relevant Net Profit set out in the Purchaser’s First Earn-Out Statement and shall be borne by the Purchaser in the event that the Relevant Net Profit for the First Earn-Out Period as determined by the Expert Accountant exceeded the amount set out in the Purchaser’s Earn-Out Statement.

• The parties shall provide such reasonable access at reasonable times to each other and to the Expert Accountant to the accounting records and working papers used or required for the determination of the Relevant Net Profit for the First Earn-Out Period provided that all such records and working papers shall be kept confidential by the parties hereto (save to the extent that disclosure is required by applicable law or regulation or by court order).

• The Expert Accountant's fees will be payable by the Seller in the event that the Expert Accountant determines that the Relevant Net Profit for the Second Earn-Out Period is less than or equal to the Relevant Net Profit set out in the Purchaser’s Second Earn-Out Statement and shall be borne by the Purchaser in the event that the Relevant Net Profit for the Second Earn-Out Period as determined by the Expert Accountant exceeded the amount set out in the Purchaser’s Second Earn-Out Statement.

• Seller shall have the right to review the Purchaser’s financial records, solely as they pertain to the calculation of Relevant Net Profit generated by the Acquired Assets during the First Earn-Out Period, within 30 days of receiving the First Earn-Out Statement, subject to reasonable notice and confidentiality obligations.

• The Seller shall have the right to review the Purchaser’s financial records, solely as they pertain to the calculation of Relevant Net Profit generated by the Acquired Assets during the Second Earn-Out Period, within 30 days of receiving the Second Earn-Out Statement, subject to reasonable notice and confidentiality obligations.

More Definitions of Net Profit

Net Profit means, with respect to a Fiscal Year, the excess if any, of Profits for such Fiscal Year over Losses for such Fiscal Year (excluding Profits and Losses specially allocated pursuant to Section 5.03 and Section 5.04).

Net Profit or "Net Loss" shall mean, with respect to any fiscal year, the taxable income or loss of the Company as determined for Federal income tax purposes, with the following adjustments:

Net Profit means such profit as is calculated in accordance with section 28;

Net Profit or “Net Loss” means the amount by which the Net Assets as of the close of business on the last day of a Fiscal Period exceed (in the case of Net Profit) or are less than (in the case of Net Loss) the Net Assets as of the commencement of the same Fiscal Period (or, with respect to the initial Fiscal Period of the Partnership, at the close of business on the Closing Date), the amount of any Net Profit or Net Loss to be adjusted to exclude any items to be allocated among the Capital Accounts of the Partners on a basis that is not in accordance with the Investment Percentages of all Partners as of the commencement of the Fiscal Period in accordance with Section 5.6 of this Agreement.

Net Profit means gross income as defined in Section 61 of the Internal Revenue Code minus all the deductions from gross income allowed by Chapter 1 of the Internal Revenue Code, and adjusted as follows:

Net Profit means the net profit as per the Act and Rules based on which the specific percentage for CSR expenditure has to be calculated.

Net Profit or “Net Loss “ means, with respect to any fiscal year, the sum of the Company’s: (a) net profit or loss as determined in accordance with the Code and the Regulations thereunder, and (b) any income exempt from federal income tax, after deduction of all expenses properly chargeable to the Company for such fiscal year (whether deductible or non-deductible and whether described in Section 705(a)(2)(B) of the Code, treated as so described pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(i), or otherwise). For this purpose, Net Profit or Net Loss shall be determined in accordance with tax accounting principles rather than generally accepted accounting principles, and any expenses required to be capitalized and included in the Company’s adjusted tax basis in any asset or which reduce the amount realized by the Company on the disposition of any asset shall be disregarded.