Alone Net Income. Section 14.2 of the Loan Agreement ---------------------- ------------ shall be and is hereby amended to read in its entirety as follows:
Alone Net Income Sample Clauses
Related to Alone Net Income
Net Income After giving effect to the special allocations set forth in Section 6.1(d), Net Income for each taxable year and all items of income, gain, loss and deduction taken into account in computing Net Income for such taxable year shall be allocated as follows:
Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.
Net Income and Net Loss All net income or net loss of the Company shall be for the account of the Member.
Minimum Net Income The Borrower will maintain, during each period described below, its Net Income, determined as at the end of each quarter, at an amount not less than the amount set forth opposite such period (numbers appearing between “( )” are negative): Period Minimum Net Income Six months ending June 30, 2002 ($1,049,000) Nine months ending Sept. 30, 2002 ($665,000) Twelve months ending Dec. 31, 2002 ($600,000) "
Taxes on Income Each Party shall be solely responsible for the payment of all taxes imposed on its share of income arising directly or indirectly from the efforts of the Parties under this Agreement.
Unrelated Business Taxable Income No Employee Plan (or trust or other funding vehicle pursuant thereto) is subject to any tax under Code Section 511.
Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.
Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.
Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.
Depreciation The Company treats Memorabilia and Collectibles assets as collectible and therefore will not depreciate or amortize the SERIES #Kobe1997AirBallGameUsedShoes going forward. Schedule V to Fifteenth Amendment to Collectable Sports Assets, LLC Amended and Restated Limited Liability Company Agreement Exhibit 371 Series Designation of #WILTCHAMBERLAIN1961FLEERRCPSA9, a series of Collectable Sports Assets, LLC Capitalized terms used but not defined herein have the meanings assigned to such terms in the Limited Liability Company Agreement of Collectable Sports Assets, LLC, as in effect as of the effective date set forth below (the “Agreement”). References to Sections and Articles set forth herein are references to Sections and Articles of the Agreement. Name of Series #WILTCHAMBERLAIN1961FLEERRCPSA9, a series of Collectable Sports Assets, LLC, a Delaware limited liability company Date of establishment October 22, 2021 Managing Member CS Asset Manager, LLC, a Delaware limited liability company, is appointed as the Managing Member of #WILTCHAMBERLAIN1961FLEERRCPSA9 with effect from the effective date hereof and shall continue to act as the Managing Member of #WILTCHAMBERLAIN1961FLEERRCPSA9 until dissolution of #WILTCHAMBERLAIN1961FLEERRCPSA9 pursuant to Section 11.1(b) or its removal and replacement pursuant to Section 4.3 or ARTICLE X. Initial Member CS Asset Manager, LLC, a Delaware limited liability company Series Asset The Series Assets of #WILTCHAMBERLAIN1961FLEERRCPSA9 shall comprise the asset as further described in Schedule 1 attached hereto, which will be acquired by #WILTCHAMBERLAIN1961FLEERRCPSA9 through that certain Consignment Agreement dated as of 9/30/2021, as it may be amended from time to time, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by #WILTCHAMBERLAIN1961FLEERRCPSA9 from time to time, as determined by the Managing Member in its sole discretion. Asset Manager CS Asset Manager, LLC, a Delaware limited liability company. Management Fee As stated in Section 7.1 of the Agreement. Issuance Subject to Section 6.3(a)(i), the maximum number of #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests the Company can issue may not exceed the purchase price, in the aggregate, of $1,200,000. Number of #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests held by the Managing Member and its Affiliates The Managing Member must purchase a minimum of 0.5% and may purchase additional #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests (including in excess of 10%), in its sole discretion, through the Offering. Broker Dalmore Group, LLC, a New York limited liability company. Brokerage Fee Up to 1.00% of the gross proceeds of the Interests from #WILTCHAMBERLAIN1961FLEERRCPSA9 sold at the Initial Offering of the #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests (excluding the #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests acquired by any Person other than Investor Members). Other rights Holders of #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests shall have no conversion, exchange, sinking fund, redemption or appraisal rights, no preemptive rights to subscribe for any securities of the Company and no preferential rights to distributions of #WILTCHAMBERLAIN1961FLEERRCPSA9 Interests. Officers There shall initially be no specific officers associated with #WILTCHAMBERLAIN1961FLEERRCPSA9, although, the Managing Member may appoint Officers of #WILTCHAMBERLAIN1961FLEERRCPSA9 from time to time, in its sole discretion. Aggregate Ownership Limit As stated in Section 1.1. Minimum Interests One (1) Interest per Member. Schedule 1 DESCRIPTION OF SERIES #WiltChamberlain1961FleerRCPSA9 Investment Overview · Upon completion of the SERIES #WiltChamberlain1961FleerRCPSA9 Offering, SERIES #WiltChamberlain1961FleerRCPSA9 will purchase a Wxxx Xxxxxxxxxxx 1961 Fleer PSA 9 (The “Underlying Asset” with respect to SERIES #WiltChamberlain1961FleerRCPSA9, as applicable), the specifications of which are set forth below.
