Examples of Net Operating Profit in a sentence
Notwithstanding the foregoing, any amounts paid by Manager in accordance with the preceding sentence during 2015 shall not be included in the calculation of Net Operating Profit for purposes of determining Manager’s Incentive Management Fee for 2015 under Sections 6.21 and 6.2.2 of the Agreement.
Centerplate shall not be entitled to any compensation under this Agreement, except for the monthly Management Fee and 17% of the monthly Net Operating Profit, if any.
The monthly Net Operating Profit payments shall be payable within fifteen (15) days from the end of each month.
The Net Operating Profit shall be distributed to the City and Centerplate monthly, unless otherwise agreed to by the City and Centerplate in writing.
The City shall receive eighty-three percent (83%) of the monthly Net Operating Profit, plus applicable sales tax, and Centerplate shall receive seventeen percent (17%) of the monthly Net Operating Profit.