Transfer of Profits. (1) The Controlled Company shall undertake to transfer its profits to the Controlling Company in full. Subject to the accrual or release of provisions pursuant to Paragraph 2, the net profit for the year before profit and loss pooling - minus any net loss carried forward from the preceding year - shall be transferred.
Transfer of Profits. 2.1 Subject to the creation and release of reserves pursuant to clause 2.2, the Con- trolled Company shall transfer its entire profit arising during the term of the Agreement without the transfer of profit to the Controlling Company. Sec. 301 of the German Stock Corporation Act (Aktiengesetz - AktG) as amended from time to time shall apply to the transfer of profits.
Transfer of Profits. 2.1 The Subsidiary undertakes to transfer its entire profits to Siemens AG in accordance with the provisions of Section 301 of the German Stock Corporation Act (AktG), as amended from time to time.
Transfer of Profits. 1. Subject to the amended latest version of Section 301 of the German Public Com- panies Act, the SUBSIDIARY COMPANY undertakes during the term of the Agreement and for the first time from the beginning of the current business year on the date of entry of this Agreement in the Commercial Register to transfer its profits to the CONTROLLING COMPANY as calculated in accordance with the relevant provisions of German commercial law. Subject to the formation or re- lease of reserves in accordance with Paragraph 2, the amount to be transferred will consist of the annual profits arising without the transfer of profits less any losses carried forward from the previous year.
Transfer of Profits. (1) The Tax Subsidiary undertakes to transfer all of its profits to the Tax Parent, in acknowledgement of section 301 of the German Stock Corporation Act (Aktiengesetz; "AktG") as amended, for the duration of this Agreement and for the first time in the current financial year. The profits transferred in this context must not exceed the amount to be determined in line with section 301 AktG, as amended.
Transfer of Profits. (1) The Controlled Company undertakes to transfer its entire profit to the Controlling Com- pany. Subject to the accrual or reversal of provisions pursuant to Paragraph 2, net in- come, less any loss carryforward from the preceding year and any amount barred from payment pursuant to Section 268, Paragraph 8 of the German Commercial Code, shall be transferred to the Controlling Company.
Transfer of Profits. 1. The Subsidiary undertakes to transfer its entire profits to SAP AG during the term of this Agreement. In accordance with Section 301 AktG, the amount to be transferred, subject to the establishment and dissolution of reserves pursuant to para. 2 below, shall be the annual net profits arising without the transfer of profits in accordance with the relevant provisions of German commercial law, less any loss carried forward from the preceding year. The obligation to transfer the profits shall be due at the end of each fiscal year, and interest shall be payable thereon as from such date in accordance with Sections 352 (1), 353 of the German Commercial Code (Handelsgesetzbuch; "HGB").
Transfer of Profits. (1) During the term of the Agreement, the Subsidiary will be obliged to transfer its entire profits to Scout24 Holding GmbH. Pursuant to Section 301 of the German Stock Corporation Act (Aktiengesetz; AktG), the amount to be transferred is the annual net income, less any loss carried forward from the preceding year, which would have accrued in accordance with the applicable provisions under German commercial law had no profit transfer taken place, less the amount to be transferred to the statutory reserves pursuant to Section 300 AktG.
Transfer of Profits. This is not the place for a detailed analysis of the provisions generally included in bilateral treaties, even the most significant provisions. However, mention should be made of the importance of provisions concerning the treatment of investments, particularly treatment established both in a general and indirect way by means of the above most-favoured-nation clause or national treatment clause. Traditionally, bilateral treaty provisions concerning the treatment of investments have been understood in legal writings as an indication of a minimum international standard which should at all events be respected by the host state. The above-mentioned attempts made in the mid-1970s to affirm new principles which were more favourable to the interests of host states have, however, determined an evolution of the general formulae used in bilateral treaties with regard to foreign investments. In the most recent treaty practice, more general and elastic formulae have been devised, such as those of fair and equitable treatment or full protection and security of foreign investments. These formulae, while less rigid and schematic than those of the international minimum standard, guarantee nevertheless a degree of protection which is now considered adequate by the countries of origin of the investments (Schreuer, 2005). Finally, the treatment provided for by the BITs generally consists of obligations on the part of the host state with respect to the transfer abroad of profits that might be produced and the repatriation of capital invested (Xxxxx, 2003).
Transfer of Profits. 1. The controlled company undertakes, for the first time for its fiscal year starting on January 1, 2001, to transfer to the controlling company its entire profit, as calculated in accordance with the relevant provisions under the German Commercial Code (HGB) and taking into account Subsection 2, minus any losses carried forward. The nominal capital of the controlled company must never be paid out in full or in part.
