Primary Income definition

Primary Income means for any period so much of the net additional income generated by the 1986 Special Session Acts or any other revenues appropriated in substitution for or in addition to such net additional revenues by the General Assembly credited to the Transportation Trust Fund as is or may be allocated to the Income Account of the Port Fund during such period.
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Primary Income means more than 50% of income comes from farming. Income is farmer's adjusted gross income after add‐backs, such as depreciation, deferred compensation, nontaxable portions of pension, social security or unemployment compensation, etc., except disqualified losses
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Primary Income for a Taxation Year of the Trust" means such part of the Income for a Taxation Year of the Trust which arises from property received by the Trust from Peguis, including the sum of one hundred ($100.00) dollars received by the Initial Trustees to initially settle the Trust and the balance of the Total Amount deposited by Canada, at the direction of Peguis, in the Trust pursuant to the Settlement Agreement, or from any property substituted for that property, which is attributed to the Beneficiary pursuant to the application of Subsection 75(2) of the Income Tax Act, or any other provision of the Income Tax Act, such that the Income so attributed is deemed to be income of the Beneficiary and not income of the Trust for purposes of the Income Tax Act;
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Examples of Primary Income in a sentence

  • Such payments shall be made firstly out of Secondary Income for a Taxation Year of the Trust, secondly, by repayment of Promissory Notes, and thirdly, out of Primary Income for a Taxation Year of the Trust or out of the capital of the Trust Property, as the Financial Trustees shall determine.

  • Except pursuant to a Funding Direction from the Community Fund Trustees in accordance with this Subparagraph 8.5(a)(i), the Financial Trustees shall not distribute Primary Income for a Taxation Year of the Trust to the Beneficiary.

  • The services of the Adviser to The Primary Income Fund hereunder are not to be deemed exclusive and the Adviser shall be free to furnish similar services to others as long as the services hereunder are not impaired thereby.

  • For the services to be rendered by the Adviser hereunder, the Company through The Primary Income Fund shall pay to the Adviser an advisory fee, paid monthly, based on the average net asset value of The Primary Income Fund, as determined by valuations made as of the close of each business day of the month.

  • The Adviser shall also bear all sales and promotional expenses of The Primary Income Fund, except for expenses incurred in complying with laws regulating the issue or sale of securities.

  • The Primary Income Fund shall monitor its expense ratio on a monthly basis.

  • If the accrued amount of the expenses of The Primary Income Fund exceeds the expense limitation established herein, The Primary Income Fund shall create an account receivable from the Adviser in the amount of such excess.

  • The Adviser shall supervise and manage the investment portfolio of The Primary Income Fund and, subject to such policies as the board of directors of the Fund may determine, direct the purchase and sale of investment securities in the day to day management of The Primary Income Fund.

  • In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Adviser, the Adviser shall not be subject to liability to The Primary Income Fund or to any shareholder of The Primary Income Fund for any act or omission in the course of, or connected with, rendering services hereunder, or for any losses that may be sustained in the purchase, holding or sale of any security.

  • The Adviser, at its own expense and without reimbursement from the Company, shall provide The Primary Income Fund with copies of the Primary Income Trends, an investment letter published by the Adviser, in quantities sufficient for distribution to each shareholder of The Primary Income Fund.