Profit from Operations Sample Clauses

Profit from Operations. Employee shall receive a Profit from Operations Bonus (“POB”), payable quarterly, equal to a 5% carried working interest (“CWI”) from all oil and gas well owned and/or operated by the Company. The POB shall be derived from (i) new CWI revenues from new production, and (ii) increased CWI revenues from existing production, based on the trailing three months CWI revenues from the date of the execution of this Agreement. The CWI revenue calculation shall be based on the difference derived when subtracting (i) taxes, and (ii) royalties from a gross revenue amount. So long as this Agreement provides for a POB, the POB shall be paid for the life of a particular well. Example: Assume that an Agreement was Executed on April 1, 2006
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Profit from Operations. Profit from operations has been arrived at after charging: For the six months ended 31 December 2001 (Unaudited) HK$’000 2000(Unaudited) HK$’000 Depreciation of property, plant and equipment 8,642 8,994 Quota costs 12,738 21,232
Sample 1
Profit from Operations. For purposes of applying Section 3.2.1 and this Section 3.2.2, a Partner's Capital Account balance shall be deemed to be increased by such Partner's share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain determined as of the end of such Partnership Accounting Year. For each Partnership Accounting Year, Profit from Partnership operations shall be allocated among the Partners as necessary to cause the Capital Account balance of each Partner to equal the sum of (i) the amount of Net Available Cash that would be distributed to such Partner under Section 4.1 with respect to such Partnership Accounting Year (if no portion thereof were withheld as reserves or reinvested), plus (ii) the amount that would be distributed to such Partner pursuant to Sections 4.1 and 4.2.3 if the Partnership (a) distributed all Capital Receipts and Net Mortgage Proceeds received with respect to such Partnership Accounting Year (without any portion thereof being retained as reserves or reinvested) pursuant to Section 4.1, and (b) then sold all of its remaining assets (including its interest in every Investment Entity) for their adjusted tax basis (or adjusted book basis in the case of Revalued Property), and distributed the proceeds therefrom and its reserves (net of debt repayments) to the Partners pursuant to Sections 4.1 and 4.2.3.
Sample 1
Profit from Operations. 17 6.6 No Amendments to Bazaar ESA............................................................................. 17 6.7 Bazaar Consent to Amendments; Restoration of Rights..................................................... 17 7 Amendments to Xxxxxxx/State Street Loan Documents................................................................ 17 7.1 Note Purchase Agreement................................................................................. 17 7.2
Sample 1
Profit from Operations. The ESA shall be amended to provide that Northwind's only profit from operations, as applicable to Gaming, is and shall be derived from the Return on Equity Amounts. For purposes of this SECTION 6.5 and Section 2.5 of the ESA, "profit from operations" is not intended to and does not include either (a) any benefit that Northwind may derive from amortization of the debt owed by Northwind to the Noteholders under the Note Purchase Agreement (and related promissory notes), including any accelerated amortization of the Noteholders' debt, or (b) any tax benefits that Northwind derives from or related to the Northwind Facilities.
Sample 1
AutoNDA by SimpleDocs
Profit from Operations. Profit From Operations shall be allocated to NexCore Partners in an amount equal to the lesser of (x) its Percentage Interest or (y) one percent (1%), with the balance allocated to the other Partners, pro rata, in accordance with their relative Percentage Interests; and
Sample 1
Profit from Operations. For purposes of applying Section 3.2.1 and this Section 3.2.2, a Partner's Capital Account balance shall be deemed to be increased by such Partner's share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum
Sample 1

Related to Profit from Operations

  • Funds from Operations The ratio of Funds from Operations to Total Debt for such Relevant Entity in any fiscal year is greater than the ratio specified in the Election Sheet; or

  • Net Operating Income For any Real Estate and for a given period, an amount equal to the sum of (a) the rents, common area reimbursements, and service and other income for such Real Estate for such period received in the ordinary course of business from tenants or licensees in occupancy paying rent (excluding pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants’ or licensees’ obligations for rent and any non-recurring fees, charges or amounts including, without limitation, set-up fees and termination fees) minus (b) all expenses paid or accrued and related to the ownership, operation or maintenance of such Real Estate for such period, including, but not limited to, taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Real Estate, but specifically excluding general overhead expenses of REIT and its Subsidiaries, any property management fees and non recurring charges), minus (c) the greater of (i) actual property management expenses of such Real Estate, or (ii) an amount equal to three percent (3.0%) of the gross revenues from such Real Estate excluding straight line leveling adjustments required under GAAP and amortization of intangibles pursuant to FAS 141R, minus (d) all rents, common area reimbursements and other income for such Real Estate received from tenants or licensees in default of payment or other material obligations under their lease, or with respect to leases as to which the tenant or licensee or any guarantor thereunder is subject to any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or similar debtor relief proceeding.

  • Exclusions from Operating Expenses Notwithstanding anything to the contrary contained herein, in no event shall Operating Expenses include any of the following: (1) costs for which Landlord is reimbursed, receives a credit or is otherwise compensated (other than tenant reimbursements for Operating Expenses); (2) rent or other amounts payable under any ground lease or master lease, or interest, amortization or other repayment of indebtedness or costs, fees, points or other expenses in connection with any financing or refinancing of all or any part of the Real Property; (3) costs of correcting defects in the initial design or construction of the Building or any expansion thereof or any expenses resulting from inferior or deficient workmanship; (4) costs of repair or restoration required due to casualty damage or condemnation (except for commercially reasonable deductibles); (5) non-refundable reserves for anticipated or unanticipated future expenses; (6) interest or penalties incurred as a result of Landlord’s failure to pay any bill as it shall become due; (7) costs resulting from the gross negligence or willful misconduct of Landlord, its employees, and/or agents; (8) leasing commissions, attorneys’ fees, costs and disbursements, and other expenses (including, without limitation, advertising and marketing costs) incurred in connection with leasing, renovating, or improving space for tenants or other occupants or prospective tenants or occupants of the Building, or costs (including, without limitation, permit, license, and inspection fees) incurred in renovating or otherwise improving or decorating, painting or redecorating space for tenants or other occupants or vacant space; (9) costs of any services sold to tenants or other occupants for which Landlord is entitled to be reimbursed by such tenants or other occupants as an additional charge or rental over and above the basic rent and escalations payable under the lease with such tenant or other occupant; (10) allowances for depreciation of improvements in the Common Areas; and (11) so called “capital items” or “capital expenditures” which, pursuant to generally accepted accounting principles, are not fully chargeable to current expenses in the year the expenditure is incurred, except to the extent such capital expenditures are amortized over their useful life (with commercially reasonable interest) in accordance with generally accepted accounting principles and only with respect to those that (A) are intended to effect economies in the operation or maintenance of the Real Property, or any portion thereof, or (B) are installed with a reasonable and good faith expectation by Landlord that the same will reduce current or future Operating Expenses, or (C) are intended to enhance the safety or security of the Real Property or its occupants, or (D) are required to comply with present or anticipated conservation programs, or (E) are otherwise includable in Operating Expenses pursuant to the application of sound real estate management principles (including but not limited to, parking lot repair and resurfacing).

  • Operating Cash Flow As used in this Agreement, “Operating Cash Flow” shall mean and be defined, for any fiscal period, as all cash receipts of the Partnership from whatever source (but excluding Capital Cash Flow and excluding the proceeds of any Capital Contributions to the Partnership) during such period in question in excess of all items of Partnership expense (other than non-cash expenses such as depreciation) and other cash needs of the Partnership, including, without limitation, amounts paid by the Partnership as principal on debts and advances, during such period, capital expenditures and any reserves (as determined by the Managing General Partner) established or increased during such period. Operating Cash Flow shall be distributed to or for the benefit of the Partners of record as of the applicable record date not less frequently than quarterly, and shall be allocated among the Partners as follows:

  • Net Income and Net Loss All net income or net loss of the Company shall be for the account of the Member.

  • Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

  • Distributions of Available Cash From Operating Surplus (a) During Subordination Period. Available Cash with respect to any Quarter within the Subordination Period that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or 6.5 shall, subject to Section 17-607 of the Delaware Act, be distributed as follows, except as otherwise contemplated by Section 5.6 in respect of other Partnership Securities issued pursuant thereto:

  • Consolidated Capital Expenditures Company shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year indicated below, in an aggregate amount in excess of the corresponding amount (the “Maximum Consolidated Capital Expenditures Amount”) set forth below opposite such Fiscal Year; provided that the Maximum Consolidated Capital Expenditures Amount for any Fiscal Year shall be increased by (i) an aggregate amount equal to the Net Securities Proceeds received by Company in such Fiscal Year from the issuance of any Capital Stock of Company or any of its Subsidiaries, but solely to the extent such Net Securities Proceeds are not applied to increase the limit under subsection 7.3(vi), (ii) to the extent Company and its Subsidiaries have generated Consolidated Excess Cash Flow in any Fiscal Quarter of such Fiscal Year in excess of $12,500,000, an amount not to exceed 50% of such excess (or 100% of such excess to the extent the Consolidated Leverage Ratio is less than 2.00:1.00 at the end of the preceding Fiscal Year), but solely to the extent that such excess is not applied to increase the limit under subsection 7.5(v), and (iii) (x) if the actual amount of Consolidated Capital Expenditures made in any Fiscal Year is less than the Maximum Consolidated Capital Expenditures Amount for such Fiscal Year (before giving effect to any increase pursuant to clause (i), (ii) or (iii) of this proviso), then an amount of such shortfall may be added to the Maximum Consolidated Capital Expenditures Amount for the immediately succeeding (but not any other) Fiscal Year and (y) in determining whether any amount is available for carryover to the succeeding Fiscal Year pursuant to the preceding subclause (iii)(x), the amount expended in any Fiscal Year shall first be deemed to be from any amount carried over to such Fiscal Year from the immediately preceding Fiscal Year and any other increases pursuant to clauses (i) or (ii) of this proviso: Fiscal Year Maximum Consolidated Capital Expenditures 2009 $ 125,000,000 2010 $ 150,000,000 2011 and each Fiscal Year thereafter $ 175,000,000

Time is Money Join Law Insider Premium to draft better contracts faster.