Net Profit Interests definition

Net Profit Interests means a share of production or proceeds from production derived from rights to various commodity assets (without the obligation to pay any of the costs of explorations and development).
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Net Profit Interests means rights to receive a percent of operating or net profits that may be either fixed or variable, may provide for a minimum or maximum dollar amount per year or in total, may be for an indefinite or fixed period of time, and may be based upon operating or net profits in excess of a base amount.
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Net Profit Interests means rights to receive a percent of operating or net profits that may be either fixed or variable, may provide for a minimum or maximum dollar amount per year or in
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Examples of Net Profit Interests in a sentence

  • This Net Profit Interests Agreement will be effective on September 2, 2003.

  • Net Smelter Return Royalties and Net Profit Interests generally E-13 FRANCO-NEVADA MINING CORPORATION LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) (tabular amounts in thousands of Canadian dollars except where otherwise indicated) comprise a one-time acquisition cost.

  • Each Participant shall be responsible to pay all charges and costs of its Proportionate Share of the Joint Venture and all of its Proportionate Share of Net Profit Interests and neither the Operator nor any other party shall be responsible for the same.

  • This amended and restated agreement replaces the Amended and Restated Net Profit Interests Agreement made effective as of September 2, 2003 between Baytex Energy Ltd., as Grantor, and Baytex Energy Trust, as the NPI Holder.

  • This amended and restated agreement replaces the Net Profit Interests Agreement made as of September 2, 2003 between Baytex Energy Ltd., as Grantor and Baytex Energy Trust, as the NPI Holder.


More Definitions of Net Profit Interests

Net Profit Interests shall have the meaning ascribed to those terms in Section 2.7(a).
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Net Profit Interests means rights to receive a percent of operating or net profits that may be either fixed or variable, may
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Related to Net Profit Interests

  • Net Profit means such profit as is calculated in accordance with paragraph 61;

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Percentage Interests shall have the meaning specified in the Trust Agreement.

  • Net Income means, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Gross Profits means the gross profits calculated under section 4;

  • EBIT means earnings before interest and taxes.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • net non-operating income means the difference between:

  • Tax Distributions has the meaning set forth in Section 4.01(b)(i).

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and: