Projected Net Income definition

Projected Net Income means such amount set forth for the applicable time period on Schedule VII attached hereto.
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Projected Net Income means, for fiscal year 2005, the projected Net Income for the Company and its Subsidiaries on a consolidated basis, set forth in the Company's pro forma financial statements attached hereto as Exhibit A and incorporated herein by reference, and for each fiscal year thereafter, the projected Net Income set forth in Exhibit A shall be adjusted annually for each such fiscal year by the mutual agreement of the Company and the Investor on or before January 31st of each such fiscal year; provided, however, that in no event shall the projected Net Income for any such fiscal year reflect less than 5% internal growth for such fiscal year over the immediately preceding fiscal year. The Projected Net Income shall be further adjusted for acquisitions and dispositions, if any, as set forth in Section 3.2(i). For purposes of this definition, projected net income does not include any gain from the sale of assets or the forgiveness, extinguishment or reclassification of debt (other than gain resulting from the agreement by a vendor who provided goods or services to the Company in the ordinary course of business to accept less than the face amount of an invoice previously issued by the vendor). Projected Net Income shall also not include any expense (including, without limitation, expenses incurred in connection with the transactions contemplated by this Agreement), which are capitalized on the Company's year end financial statements).
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Projected Net Income has the meaning ascribed to it in Section -------------------- 1.02(b).
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Examples of Projected Net Income in a sentence

  • In the event the actual consolidated net income after taxes expressed in Canadian dollars (the "Actual Net Income") of the Company and its subsidiaries on a consolidated basis is not at least ninety (90%) percent of the Projected Net Income for any such Subject Fiscal Quarter, then a "Projection Default" hereunder shall be deemed to have occurred.

  • Annexed hereto as Schedule 9.10 is a schedule of the projections of the consolidated net income after taxes expressed in Canadian dollars (the "Projected Net Income") of the Company and its subsidiaries on a consolidated basis, for the fiscal quarters ending November 30, 2001, February 28, 2002, May 31, 2002, and August 31, 2002 (each a "Subject Fiscal Quarter").

  • The percentage amount of the excess of Actual Net Income Before Taxes over Projected Net Income Before Taxes shall hereinafter be referred to as the "Excess".