Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises, Landlord shall receive 50% of any “Net Profits” (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent paid by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant’s documented reasonable costs associated with such assignment or subletting, including, without limitation, brokerage commissions, marketing costs, free rent, attorney fees and any costs incurred by Tenant to prepare or alter the Premises, or portion thereof, for the assignee or sublessee.
Distribution of Net Profits. Any Net Profits in excess of the Preferred Return shall be distributed to Members on a monthly basis (and pro-rated for the amount of time that a Member was a member of the Company) as follows: Fifty Percent (50%) of the Net Profits of the Company shall be distributed to the Members on a pro-rata basis, and the remaining Fifty Percent (50%) of the Net Profits of the Company shall be distributed to the Manager. Net Profits shall only be distributed to the extent cash is available and provided that said distributions will not impact the continuing operation of the Company, subject to the sole and absolute discretion of the Manager.
Distribution of Net Profits. The Net Profits shall be distributed on a quarterly basis as follows:
Distribution of Net Profits. Owner's share of Net Profits realized during any calendar quarter shall be distributed to Owner within forty-five (45) days following the end of such calendar quarter. Such distributions of Net Profits shall be accompanied by a statement showing in reasonable detail the derivation of Net Profits. Statements for the first, second, and third quarters of each calendar year and the accompanying distributions to Owner shall be provisional pending final determination of Net Profits for the entire calendar year.
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term to any entity, Landlord shall receive 50% of any "Net Profits" (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term "Net Profits" as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant's documented reasonable third party costs associated with such assignment or subletting, including, without limitation, broker commissions, attorney fees and any costs incurred or market customary third party costs, abatements, and concessions, granted by Tenant at no cost to Landlord, to prepare or alter the Premises, or portion thereof, for the assignee or sublessee. 9.4
Distribution of Net Profits. Notwithstanding anything to the contrary contained in the Management Contract, the Tribe and Grand Casinos/Tunica-Biloxi shall not distribute during any calendar month any Net Profits unless and until: (a) the requirements of Article 3 of the Dominion Account Agreement have been satisfied; and (b) any other sums currently due to the Bank under the Loan Documents and the Existing Loan Agreement have been paid in full. Further, the Tribe and Grand Casinos/Tunica-Biloxi shall not distribute any Net Profits under the Management Contract so long as an Event of Default exists under this Agreement and/or the Existing Loan Agreement. In addition to the foregoing, the Tribe shall not pay management fees or other compensation to the Grand Entities unless payments to the Bank under the Loan Documents and the Existing Loan Agreement are current.
Distribution of Net Profits. The parties agree that 75% of net profits as determined under general accepted accounting principles ("GAAP") shall be dividended to Global during the term of this Agreement" on a quarterly basis if Casinos USA has such moneys in readily available cash funds, and that no other dividends or distributions shall be made to Global by Casinos USA during the term of this Agreement. The quarterly dividends shall commence the first quarter of 2005 and shall be paid by the last day of the month following the end of each calendar quarter. The remainder of net profits in excess of reasonable reserves for future commitments and contingencies shall, wherever feasible, be used for capital improvements or to defease secured debt obligations of Casinos USA in reverse order of priority."
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term to any entity, Landlord shall receive fifty percent (50%) of any "Net Profits" (as hereinafter defined) and Tenant shall receive fifty percent (50%) of any Net Profits received by Tenant from any such assignment or subletting. The term "Net Profits" as used herein shall mean such portion 5055 Wilshire - Playboy Enterprises, Inc. - Lease 12/22/98 of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent the following:
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term to any entity, Landlord shall receive fifty percent (50%) of the “Net Profits” (as hereinafter defined), if any, received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent the following:
Distribution of Net Profits. Subject to any restrictions imposed by Applicable Law, Hong Kong Holdco will distribute the net profits Hong Kong Holdco receives to the Investors on a Pro Rata basis. The distribution of net profits, in each instance, will be subject to (a) the approval of the Board, (b) the establishment of reasonable reserves and (c) the payment of any associated fees and taxes.
