After Tax Net Income shall have the meaning set forth in Section 4.11.
After Tax Net Income means the Company’s income after taxes for the fiscal year ending December 31, 2008 or December 31, 2009 (as the case may be) in each case determined in accordance with GAAP as reported in the 2008 Annual Report or 2009 Annual Report (as relevant).
After Tax Net Income means the Company’s income after taxes for the fiscal year ending June 30, 2009 determined in accordance with GAAP as reported in the 2009 Annual Report. “Earnings Per Share” shall mean the Company’s After Tax Net Income divided by the number of shares of common stock of the Company outstanding on a fully diluted basis. In the event that the After Tax Net Income reported in the 2009 Annual Report is equal to or greater than the 2009 Guaranteed ATNI and the Earnings Per Share is greater than the 2009 Guaranteed EPS, no transfer of the 2009 Make Good Shares shall be required by the Make Good Pledgor to the Investors and such 2009 Make Good Shares shall be returned in accordance with the Make Good Escrow Agreement. Any such transfer of the 2009 Make Good Shares shall be made within ten (10) Business Days after the date which the 2009 Annual Report is filed. Notwithstanding anything to the contrary contained herein, in determining whether the Company has achieved the 2009 Guaranteed ATNI or 2009 Guaranteed EPS, the Company may disregard any compensation charge or expense required to be recognized by the Company under GAAP resulting from the release of the 2009 Make Good Shares to Make Good Pledgor if and to the extent such charge or expense is specified in the Company’s independent auditor’s report for the relevant year, as filed with the Commission. No other exclusions shall be made for any non-recurring expenses of the Company, including liquidated damages under the Transaction Documents, in determining whether 2009 Guaranteed ATNI or 2009 Guaranteed EPS have been achieved. If prior to the second anniversary of the filing of the 2009 Annual Report, the Company or their auditors report or recognize that the financial statements contained in such report are subject to amendment or restatement such that the Company would recognize or report adjusted after tax net income of less than the 2009 Guaranteed ATNI or Earnings Per Share of less than the 2009 Guaranteed EPS, as applicable, then notwithstanding any prior return of 2009 Make Good Shares to the Make Good Pledgor, the Make Good Pledgor will, within 10 Business Days following the earlier of the filing of such amendment or restatement or recognition, deliver the 2009 Make Good Shares to the Investors.
Examples of After Tax Net Income in a sentence
Enter this amount on this line.Line 10 – Total After-Tax Net Income.
After-tax net income is calculated by subtracting the tax liability from the taxable income on the corporation’s federal form.Enter this amount on this line.Line 9 – After-Tax Net Income of U.S. Possession Companies.
Subtract line 5 and line 6 from line 1; enter the result on this line.Line 8 – After-Tax Net Income of Unconsolidated 80/20 Companies.
After-Tax Net Income Incorrect—The Ibbotson rate must be adjusted by a cash to earnings factor in order to be applied to after-tax net income.
Enter the amount that you reported on your federal Schedule C for Section 78 gross-up that your 80/20 companies received during the tax period.Line 7 – After-Tax Net Income of 80/20 Companies.
More Definitions of After Tax Net Income
After Tax Net Income for a Borrower means such Borrower's after-tax net income less extraordinary gains, as determined in accordance with GAAP.
After Tax Net Income means the Company’s income after taxes for the fiscal year ending December 31, 2010 or December 31, 2011 (as applicable) in each case determined in accordance with GAAP as reported in the 2010 Annual Report or 2011 Annual Report (as applicable). Extraordinary gains or losses or non-recurring gains or losses shall not be included in determining whether any of the 2010 Guaranteed EPS and 2011 Guaranteed EPS have been achieved. For purposes hereof, “Earnings Per Share” shall mean the Company’s After Tax Net Income (for the relevant fiscal year) divided by the weighted average number of shares of Common Stock of the Company outstanding during the calculation period, calculated on a fully diluted basis. Any transfer of the 2010 Make Good Shares and the 2011 Make Good Shares under this Section shall be made to the Investors or the Make Good Pledgor, as applicable, within 10 Business Days after the date which the 2010 Annual Report, or 2011 Annual Report, as applicable, is filed with the Commission and otherwise in accordance with this Make Good Agreement subject to return as provided in the immediately preceding paragraph and, in the event that any of the 2010 Make Good Shares, or 2011 Make Good Shares are required to be distributed to the Investors in accordance with the terms of this Agreement, the Escrow Agent will deliver such shares to the Investors in accordance with Exhibit A. The Investor Agent will deliver to the Escrow Agent (with a copy to the Company) a copy of the 2010 Annual Report and 2011 Annual Report, together with the calculation of whether the 2010 Guaranteed EPS or 2011 Guaranteed EPS (as applicable) has been achieved. Escrow Agent need only rely on such letters from Investor Agent and will disregard any contrary or further calculations or instructions in such regard delivered by or on behalf of the Company.
After Tax Net Income means the Company’s income after taxes determined in accordance with GAAP as reported in the Company’s Annual Report on Form 10-K for fiscal year 2009.
After Tax Net Income means the Company’s income after taxes for the fiscal year ending June 30, 2010 determined in accordance with GAAP as reported in the 2010 Annual Report, but excluding (and therefore, adding back) any expense arising from the transactions contemplated by this Agreement and the other Transaction Documents.
After Tax Net Income means net income as defined under United States generally accepted accounting principles (“GAAP”), consistently applied, for the Company, except that the Company’s After Tax Net Income shall be increased by any non-cash charges incurred as a result of the Offering (due to non-cash amortization on warrants and loss from change in fair value of the Warrants charged to the Company’s results of operation, if any, and if and to the extent previously subtracted in the calculation of After Tax Net Income in accordance with GAAP). The Company’s After Tax Net Income for the fiscal year ending December 31, 2010 (“FY10”) and the fiscal year ending December 31, 2011 (“FY11”) shall also be increased by any cash and non-cash charges related to the Share Exchange Agreement dated April 14, 2010, by and among Dragon, Leewell, the sole shareholder of Leewell and such shareholder’s sole shareholder, and this Offering, including but not limited to the following: attorney’s fees, professional fees, consulting fees, XXXXX filing fees, auditing fees and any liquidated damages pursuant to Section 8.1 of the Subscription Agreement. Notwithstanding the foregoing or anything else to the contrary herein, for purposes of determining whether or not any of the Performance Thresholds (as defined below) have been met, the release of any of the Escrow Shares to the Make Good Shareholder as a result of the operation of this Section 5 and any related expense recorded under GAAP, shall not be deemed to be an expense, charge, or any other deduction from revenues even though GAAP may require contrary treatment or the annual report for the respective fiscal years filed with the Securities and Exchange Commission by the Company may report otherwise. For purposes hereof, “Earnings Per Share” shall mean the Company’s After Tax Net Income (for the relevant fiscal year) divided by the weighted average number of Ordinary Shares of the Company outstanding at the end of the calculation period, adjusted for any stock splits, stock combinations, stock dividends or similar transactions, and for shares issued in any offerings or pursuant to the exercise of any warrants, options, or other securities issued by the Company during or prior to the calculation period and calculated on a fully diluted basis.
After Tax Net Income means the Company’s operating income after taxes for the fiscal year ending December 31, 2011 determined in accordance with GAAP as reported in the 2010 Annual Report but shall exclude any accounting effect (positive or negative) caused by the Escrow Shares or the return or cancellation thereof, including any potential derivative liability. The Escrow Shares shall be cancelled or returned to the Make Good Pledgor within 10 Business Days after the date which the 2011 Annual report is filed with the Commission. The Investor Agent will deliver to the Escrow Agent (with a copy to the Company) a copy of the 2010 Annual Report, together with the calculation of whether the 2011 Guaranteed ATNI has been achieved. The Escrow Agent need only rely on such letters from Investor Agent and will disregard any contrary or further calculations or instructions in such regard delivered by or on behalf of the Company.
After Tax Net Income means the Company’s operating income after taxes for the fiscal year ending March 31, 2011 or March 31, 2012 (as applicable) in each case determined in accordance with GAAP as reported in the 2011 Annual Report or 2012 Annual Report (as applicable). Notwithstanding the foregoing or anything else to the contrary herein, for purposes of determining whether or not the 2011 Guaranteed ATNI and 2012 Guaranteed ATNI have been met, (i) the issuance of any warrants in connection with this Agreement, including the Make Good Warrants to the Investors as a result of the operation of this Section 4.11, (ii) any non-cash change under GAAP resulting from anti-dilution or from an accounting pronouncement issued after the date hereof, shall not be deemed to be an expense, charge, or any other deduction from revenues even though GAAP may require contrary treatment or the Annual Report for the respective fiscal years filed with the Commission by the Company may report otherwise. If prior to the second anniversary of the filing of either of the 2011 Annual Report or the 2012 Annual Report (as applicable), the Company or their auditors report or recognize that the financial statements contained in such report are subject to amendment or restatement such that the Company would recognize or report adjusted After Tax Net Income of less than either of the 2011 Guarantee ATNI or the 2012 Guaranteed ATNI (as applicable), then the date of the filing of such amendment or restatement will thereafter be the 2011 Vesting Date or the 2012 Vesting Date, as applicable.