Net terminal income definition

Net terminal income means currency placed into a video lottery terminal less

Net terminal income means currency placed into a video lottery terminal less credits redeemed for cash by players.

Net terminal income or "Net Win" means the total of all cash inserted into or game credits played on all Video Lottery Terminals and Slot Machines, if any, minus the total value of all prizes paid in cash, by game credits or otherwise.

Examples of Net terminal income in a sentence

• For each Subsequent Year after the first Subsequent Year, the Adjusted Base Year Net Terminal Income shall be the product of (x) the Adjusted Base Year Net Terminal Income for the previous Subsequent Year and (y) one (1) plus the CPI Adjustment.

• Within sixty (60) days of the close of each Subsequent Year, UTGR shall certify to the Division, with such supporting documentation as the Division shall reasonably require, the amount of its share of Net Terminal Income for such Subsequent Year, the amount of Benchmark Excess, if any, and its proposed adjustment in the Blended Rate.

• Beginning with the first Subsequent Year and thereafter in each Subsequent Year, within thirty (30) days after the close of the first six (6) months of such Subsequent Year, UTGR shall submit to the Division a calculation comparing its Adjusted Base Year Net Terminal Income for such year to the annualized actual Net Terminal Income for the first six (6) months of such year and its proposed adjustment in the Blended Rate together with such supporting documentation as the Division shall reasonably require.

• Thus, by way of illustration only, without limitation on the foregoing, at such time as 4,000 Video Lottery Terminals are in operation, UTGR’s share of the total Net Terminal Income from the entire Lincoln Park facility would be calculated as follows: (Total Net Terminal Income) X [(3,002/4,000) X 28.85%) + (Total Net Terminal Income) X ( 998/4,000) X 26.00%] = total Net Terminal Income due to UTGR.

• In any Subsequent Year where there is a Benchmark Excess, the Blended Rate for the next Subsequent Year shall be equal to a fraction, expressed as a percentage, the numerator of which shall be (i) the sum of the product of the Adjusted Base Year Net Terminal Income for such Subsequent Year and the Blended Rate and (ii) the Benchmark Excess for the immediately preceding Subsequent Year and the denominator of which shall the actual Net Terminal Income for the immediately preceding Subsequent Year.

More Definitions of Net terminal income

Net terminal income means, in relation to a Video Lottery Terminal, has the same meaning given to the term as is in Section 42-61.2-1(3) of the General Laws of Rhode Island as in effect on the July 15, 2005.

Net terminal income means an amount equal to total currency placed into a Video Lottery Terminal less total Credits issued from that Terminal redeemable for Cash by Players.

Net terminal income means, in relation to a Video Lottery Terminal, has the same meaning given to the term as is in Section 42-61.2-1(3) of the General Laws of Rhode Island as in effect on the July 15,2005 “Pari-Mutuel Licensee” has the meaning given the term in Rhode Island General Laws §42-61.2-1(4) as may be hereafter amended from time to time. “Phase Milestone Completion Date” has the meaning set forth in Section 4.3 hereof. “Project Labor Agreement” has the meaning set forth in Section 8, below. “Reorganization” means the proposed restructuring of Wembley’s interests in LPI principally the separation from the Wembley US Group of any potential liability for, and associated costs of, litigation in the LPI Indictment, as well as amounts held in escrow pursuant thereto, which reorganization contemplates, among other things, the merger of LPI with and into LPRI in a transaction intended to qualify as a tax-free liquidation of LPI with and into its sole shareholder, UTGR, as well as the subsequent distribution by LPRI of all of its business, assets and liabilities to UTGR, with the exception of the potential liability for, and associated costs of, litigation in the LPI Indictment, which liability and costs shall be retained by LPRI. “Satisfaction Date” has the meaning set forth in Section 2.2, below. “Slippage Protection” means for any Subsequent Year (other than the first Subsequent Year occurring after the Base Year), whenever the Net Terminal Income is less than the Adjusted Base Year Net Terminal Income, the Blended Rate shall be increased to that rate that would have eliminated the resulting adverse impact from that difference upon UTGR; provided, however, that for any Subsequent Year (including the first Subsequent Year) in which an amount equal to twice the first six (6) months’ Net Terminal Income for such Subsequent Year shall not exceed ninety percent (90%) of the Adjusted Base Year Net Terminal Income for such Subsequent Year, the aforesaid increase in the Blended Rate shall occur beginning in the seventh (7th) month of such Subsequent Year. “State” means the State of Rhode Island. “State Consent” means the failure by the State to exhaust all of its administrative and judicial remedies to oppose the taking or conversion of land in Rhode Island into trust under 25 U.S.C. Section 465 where such taking or conversion is for the purpose of gaming under IGRA. “Subsequent Year” means each consecutive twelve (12) month period ending on the last day of the calendar month pre...

Net terminal income has the meaning set forth in the Act.

Net terminal income means the portion of gross terminal income collected by the commission from the permittees determined to be net terminal income as calculated under subsection 22B-1408(a) of this article. “Gross terminal income” means the total amount of cash inserted into video lottery terminals operated by a licensee, minus the total value of game credits which are cleared from the video lottery terminals in exchange for winning redemption tickets. A licensee may not deduct costs or expenses related to the operation of video lottery games from net terminal income.

Net terminal income means gross terminal income minus an amount deducted by the commission to reimburse the commission for its actual cost of administering video lottery at the licensed gaming facility. No deduction for any or all costs and expenses of a licensee related to the operation of video lottery games shall be deducted from gross terminal income.

Net terminal income means, in relation to a Video Lottery Terminal, the total of all currency placed into a Video Lottery Terminal less credits redeemed for cash by players.