Allocation of Profit. The income statement, which summarises all the income and expenses for the year, shows, after depreciation, amortisation and provisions, the profit or loss for the financial year (hereinafter the "Profit"). Out of the Profit for the year, less previous accumulated losses if any, a certain amount must, by law, be set aside in priority and to the extent necessary to form the legal reserve. Distributable profit is composed of the Profit for the year less any accumulated losses and transfers to reserves required by law or by the Articles of Association, plus any unappropriated retained earnings. A sum equal to 1% of consolidated net profit for the year after minority interests is then deducted from distributable profit and allocated to the General Partners in their capacity as General Partners, whether they are Managing Partners or not. The General Partners allocate the amount of this remuneration among themselves in the proportions they decide. The balance is allocated to the shareholders in proportion to the number of shares held by each. However, the General Meeting may, upon recommendation of the Managing Partners, decide to set aside from the balance available for distribution among the shareholders such amounts as it deems fit to be carried forward, or to be allocated to one or more general, extraordinary or special reserves. Dividends are distributed, by priority, out of the Profit for the year. The General Meeting may, in addition, decide to distribute any part of the reserves available to it by expressly indicating those reserves from which such distributions are to be made. To the extent such reserves have been established by deduction from distributable profit allocated to the shareholders, the dividends paid out therefrom accrue to the benefit of owners of shares alone, in proportion to the number of shares held by each. The General Meeting called to approve the financial statements for the year may, in respect of all or part of said dividend, offer each shareholder the option to receive payment in cash or in shares. Similarly, the General Meeting approving the distribution of an interim dividend under the terms of article L 232-12 of the French Commercial Code, may, in respect of all or part of said interim dividend, offer each shareholder the option to receive payment thereof in cash or in shares. The offer for payment in shares, the price and conditions under which the shares are issued, the request for payment in shares and the conditions of th...
Allocation of Profit. If the Company has Profits during the Allocation Year, after excluding the amount of any Net Long Term Capital Gain allocated to the Allocation Member pursuant to Section 4.2(a), such Profits (as so reduced) shall be allocated:
Allocation of Profit. Profit (as defined in Section 6.5, below) for each taxable year shall be allocated as follows:
Allocation of Profit and Loss (a) Allocations of Profit. Profit for any Fiscal Year shall be allocated among the Partners in proportion to their respective Points as of the close of such Fiscal Year (determined immediately prior to any forfeiture pursuant to Section 7.1(c)). (b)
Allocation of Profit. Sale of LLC Assets. Profits resulting from the sale of all or substantially all the LLC assets (as distinguished from profits from operations) shall be allocated as follows:
Allocation of Profit. After giving effect to special allocations set forth in Sections 5.1(b), (c), (d) and (g), Profit shall be allocated as follows:
Allocation of Profit. If the Company has Profits during the Taxable Year, such Profits shall be allocated to the Members in accordance with their Percentage Interests.
Allocation of Profit. Profits for each fiscal year, other than gain arising from the sale, exchange or other disposition of the Company’s assets, shall be allocated among the Members as follows:
Allocation of Profit. After giving effect to the special allocations in Section 7.8, Profit for any Period shall be allocated among the Members so as to reduce, proportionately, the differences between their respective Target Capital Accounts and Partially Adjusted Capital Accounts for such Period. No portion of the Profit for any Period shall be allocated to a Member whose Partially Adjusted Capital Account is greater than or equal to his Target Capital Account for such Period.
Allocation of Profit. Subject to Section 2.3 of this Exhibit C, Astellas shall account for Cost Share Product Costs and Development Costs in accordance with its accounting standards. Astellas shall be entitled to share in [***] of the Profit and CytomX shall be entitled to share in [***] of the Profit in any Calendar Quarter for which a Profit exists. For the avoidance of doubt, in the event CytomX exercises the Cost Share Option with respect to a Product, the provisions of this Exhibit C shall apply to Net Sales of such Product in the U.S. in lieu of the royalty provision in Section 7.5.3 of the Collaboration and License Agreement, which for clarity shall still apply to Net Sales of such Product in the Territory other than the U.S.
