Profit Distribution definition

Profit Distribution means, as of any Calculation Date, any Approved Profit Distribution as of such Calculation Date, Disputed Profit Distribution as of such Calculation Date, the Independently Calculated Profit Distribution as of such Calculation Date or the Profit Distribution Amount as of such Calculation Date, originally submitted to the Audit Committee by the Administrator pursuant to Section 5.2(c), as the case may be. For the avoidance of doubt, Profit Distribution shall also mean any portion of the foregoing payable on any applicable Profit Distribution Payment Date, including any Independently Calculated Profit Distribution Payment Date or Submission Failure Payment Date, as the case may be.

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Profit Distribution means an amount agreed to be paid under the Partnership Agreement to an affiliate of SCLP equal to 20% of:

Profit Distribution has the meaning as ascribed to it in Clause 6.1 hereof;

Examples of Profit Distribution in a sentence

• Subject to Section 4.2, profits and losses of the Company and, items of taxable income, gain, loss, deduction and credit, shall be apportioned among the Members in accordance with each Member’s Profit Distribution Share.

• The Managing Member shall first determine the amount of Available Cash of the Company available for distribution, and then the Board of Managers shall determine the aggregate amount of distributions which may be made to the Members and the Members shall share in such total distributions in accordance with each Member’s Profit Distribution Share.

• If the independent accounting firm so engaged fails to deliver its calculation of the Adjusted Profit Distribution Amount within the time required hereby, then the calculation of the Adjusted Profit Distribution Amount originally submitted to the Audit Committee by the Administrator pursuant to Section 5.2(c) shall be deemed an Approved Profit Distribution.

• The Allocation Member shall have the right to elect, in its sole discretion, on any applicable Profit Distribution Payment Date to defer payment by the Company of all or any portion of the amount of Profit Distribution payable by the Company in accordance with Section 5.2(e) on such Profit Distribution Payment Date.

• In making its calculation of the Adjusted Profit Distribution Amount, the independent accounting firm shall (i) review and consider any documentation submitted by the Administrator and the Audit Committee in support of their respective calculations of the Adjusted Profit Distribution Amount, and (ii) be based on the most recently available consolidated financial statements of the Company and its Subsidiaries (audited or unaudited).

• The Administrator shall promptly submit in writing any calculation of the Adjusted Profit Distribution Amount to the Audit Committee, in sufficient detail to permit a prompt review and approval by the Audit Committee.

• The Independently Calculated Profit Distribution shall be final, conclusive and binding on the Administrator, the Audit Committee, the Company and the Allocation Member.

• Such election shall become effective upon the delivery of a written notice to the Company indicating the amount of Profit Distribution that the Allocation Member is electing to defer (such amount, the “Distribution Entitlement”).

• Any Profit Distributions will be due and payable on the applicable Profit Distribution Payment Date by the Company, in arrears, in immediately available funds by wire transfer to an account designated by the Allocation Member from time to time.

• The Audit Committee shall direct the designated independent accounting firm to deliver its calculation of the Adjusted Profit Distribution Amount, calculated in accordance with this Section 5.2 (as calculated, the “Independently Calculated Profit Distribution”), within twenty (20) Business Days of its engagement (the “Submission Date”) to both the Administrator and the Audit Committee at the same time.

More Definitions of Profit Distribution

Profit Distribution means an amount agreed to be paid under the Partnership Agreement to an affiliate of SCLP equal to 20% of: (a) the pre-tax profits of the Company for the year minus (b) the average quarterly Net Asset Value of the Company for the year multiplied by the percentage return of the Index.

Profit Distribution. Upon completion of the Capital Increase Agreement, the new Special Terms : To make sure the commitments, guarantees, responsibilities and Conditions Precedent

Profit Distribution means, with respect to any Profit Allocation Calculation Date, the Approved Profit Distribution with respect to such Profit Allocation Calculation Date, which is approved or deemed approved in accordance with Sections 5.2(c) or (d) hereof.

Profit Distribution. Upon completion of the Capital Increase Agreement, the new

Profit Distribution. The Partnership’s investment income from any project shall be distributed in the following order after reasonable reservations are made (necessary provisions for paying partnership expenses, repaying debts and other obligations):

Profit Distribution. The Partnership’s investment income from any project shall be distributed in the following order after reasonable reservations are made (necessary provisions for paying partnership expenses, repaying debts and other obligations): (1) Cost return to all Partners: distribution to each Partner in proportion to the paid-in capital until the total amount of distributions received by each Partner in accordance with this item (1) reaches the amount of the Partner’s paid-in capital contribution to the Partnership as of the time of distribution; (2) Priority return distribution: if there is any balance, distribution to all Partners in proportion to the paid-in capital until each Partner obtains a priority return in accordance with this item (2) calculated at a simple interest rate of 8% per annum on the cumulative distributions received in accordance with item (1) above as of the time of this distribution;