Profit Account definition

Profit Account means the account in the name of the Lender with HSBC Bank plc, account number 60000000;
Sample 1Sample 2
Profit Account. As defined in Section 3.7. --------------
Sample 1Sample 2
Profit Account means an account established by Syntroleum and YFP in accordance with the provisions of this Agreement and the Accounting Procedure that will receive *** percent *** of the net proceeds from the sale of Hydrocarbon production and associated Hydrocarbon products after deduction of the Royalty.
Sample 1Sample 2

Examples of Profit Account in a sentence

  • The Committee can decide at its absolute discretion from time to time to pay to the Members, in proportion to their respective interests in the relevant Account, the whole, or such proportion as it shall think fit, of the amounts for the time being standing to the credit of the shares of the Members in the Accumulated Profit Account or Sales Discount Account.

  • Any sum for the time being credited to any share in the Accumulated Profit Account or Sales Discount Account shall remain so credited notwithstanding any transmission of the share.

  • Such amounts will be retained in the Issuer Retained Profit Account.

  • Amounts standing to the credit of the Issuer Retained Profit Account will not be available for application by the Issuer on each Interest Payment Date pursuant to the Priorities of Payments until any enforcement of Security, following which they will be released for application in accordance with the Post-enforcement Priority of Payments.

  • Retained Profit Account On each Interest Payment Date prior to any enforcement of the security, the Issuer is required to retain an amount equal to £100 in accordance with the Pre-enforcement Interest Priority of Payments.

  • Issuer Profit Account means the bank account in the name of the Issuer held with Citibank, N.A., London Branch (or such other bank as the Issuer may determine) which holds the Issuer Profit Amount.

  • The Notes will also be secured by an assignment by way of security of various of the Issuer’s other rights, including its rights under certain of the agreements described herein but excluding its rights in respect of amounts standing to the credit of the Issuer Profit Account and its rights under the Issuer Corporate Services Agreement (the “Irish Excluded Assets”).

  • The total amount borrowed or raised must never exceed an amount equal to the aggregate of the issued share capital, Accumulated Profit Account and Sales Discount Account except with the prior approval (by way of Special Resolution) of The Society in General Meeting.

  • The Notes will also be secured by an assignment by way of security of various of the Issuer's other rights, including its rights under certain of the agreements described herein but excluding its rights in respect of the Issuer Profit Account and the Corporate Services Agreement.

  • The Notes will also be secured by an assignment by way of security of various of the Issuer’s other rights, including its rights under certain of the agreements described herein but excluding its rights in respect of the Issuer Profit Account and the Corporate Services Agreement.


More Definitions of Profit Account

Profit Account means the accounting record of each Member's Interest in such Member's share of Profit. Each Member's Profit Account shall be increased by any Profit allocated to that Member pursuant to Section 6.1 of this Agreement and shall be reduced by any Loss allocated to such Member pursuant to Section 6.1 of this Agreement and by any distributions to such Member pursuant to Sections 6.2 of this Agreement. The transferee of all or a portion of an Interest shall succeed to that portion of the transferor Member's Profit Account as allocable to the portion of the Interest transferred.
Sample 1
Profit Account means the accounting record of each Member’s share of Profit and Loss. The transferee of all or a portion of an Interest shall succeed to that portion of the transferor Member’s Profit Account as allocable to the portion of the Interest transferred.
Sample 1
Profit Account means an account established and maintained by the Technical Advisor in accordance with this Agreement into which twenty percent (20%) of the Net Proceeds from each sale of Hydrocarbons shall be paid plus the excess of the Cost Recovery Account as provided in Schedule 2.1(A)(iii)(z), and from which the Parties shall be entitled to receive their respective Profit Sharing Interest shares.
Sample 1
Profit Account means a bank account of the Lexicon LLP which shall be designated the “2011 Deferred Profit Account” and which is more particularly described in paragraph 2 of this Schedule;
Sample 1

Related to Profit Account

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Annual Accounts means the accounts of the licensee prepared in accordance with the provisions of the Companies Act, 1956 and/or in such other manner as may be directed by the Commission in terms of the provisions of the Act;

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Investment Account As defined in Section 3.12(a).

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Separate Accounts means the accounts which are to be prepared for each

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.