Calculation of Profits Sample Clauses

Calculation of Profits. For the purposes of this Plan, a. Profits shall be defined as Earnings Before Interest and Taxes of the Company, calculated on a consolidated basis in accordance with United States Generally Accepted Accounting Principles (GAAP), with the following exclusions: (1) onerous contracts, income or loss related to any charges or credits (whether or not identified as special credits or charges) for unusual, infrequently occurring or extraordinary items as defined by GAAP, including credits or charges for plant closures, business dispositions and asset sales that are not normal operating charges or credits of the Company; (2) any cost or expense associated with the Benefit Trust or other similar vehicle; (3) any cost or expense associated with the Plan or any other profit sharing or similar plan for any of the Company’s employees; (4) any expense attributable to the allocation or contribution of stock to Company employees; (5) any payments, fees or other expenses that are not in the normal course of business paid directly or indirectly to any person or entity who directly or indirectly owns or controls any equity or equity-like interest in the Company; and (6) profits from Excluded Entities as defined in Article One Section A – Parties to the Agreement. b. All transactions between the Company and the Parent or any of its Affiliates shall be conducted on an arm’s length basis on commercially reasonable terms not less favorable to the Company then those that could be obtained from an unrelated third party.

Calculation of Profits. For the purposes of this Plan, a. Profits shall be defined as Earnings Before Interest and Taxes of the Company, calculated on a consolidated basis in accordance with United States Generally Accepted Accounting Principles (GAAP), with the following exclusions: (1) income or loss related to any charges or credits (whether or not identified as special credits or charges) for unusual, infrequently occurring or extraordinary items as defined by GAAP, including credits or charges for plant closures, business dispositions and asset sales that are not normal operating charges or credits of the Company; (2) any cost or expense associated with the Benefit Trust or other similar vehicle; (3) any cost or expense associated with the Plan or any other profit sharing or similar plan for any of the Company’s employees; (4) any expense attributable to the allocation or contribution of stock to Company employees; (5) any payments, fees or other expenses that are not in the normal course of business paid directly or indirectly to any person or entity who directly or indirectly owns or controls any equity or equity- like interest in the Company; and (6) profits from Excluded Entities as defined in Article One Section A – Parties to the Agreement. b. All transactions between the Company and the Parent or any of its Affiliates shall be conducted on an arms length basis on commercially reasonable terms not less favorable to the Company then those that could be obtained from an unrelated third party.

Calculation of Profits a. Profit shall be defined as Income from Operations of the Company, calculated on a consolidated basis in accordance with the United States Generally Accepted Accounting Principles (GAAP) or any successor reporting requirements such as International Financial Reporting Standards, with the following exclusions: (1) Income or loss related to any charges or credits (whether or not identified as special credits or charges) for unusual, infrequently occurring or extraordinary items, including credits or charges for Plant closures, business dispositions and asset sales that are not normal operating charges or credits of the Company; (2) To neutralize the effects of the adoption of ASU 2017-07 by the Company on January 1, 2018, items which had previously been included in Income from Operations as an “item not allocated to segments”, will be subtracted from Income from Operations (if an expense) or added to Income from Operations (if a benefit). For the term of the agreement, income from operations will be calculated as described above and in accordance with U. S. GAAP as in existence at September 1, 2018. Additionally, if changes to U. S. GAAP are enacted that change the classification of expenses included or excluded from income from operations, the Parties will mutually agree upon any necessary adjustments to ensure that neither Party is unintentionally advantaged or disadvantaged. (3) Any cost or expense associated with the Profit Sharing Plan; and (4) Any payments, fees or other expenses that are not in the normal course of business paid directly or indirectly to any person or entity who directly or indirectly owns or controls any equity or equity-like interest in the Company. b. Tons Shipped shall be defined as tons of steel products shipped by the Company on a consolidated basis to third parties. c. For purposes of this Section, the Company is defined as all businesses included in the financial results as of August 31, 2018 but excluding U. S. Steel Kosice and all businesses acquired as part of U. S. Steel Canada, Inc., and excluding any acquisitions closed after September 1, 2018.

Calculation of Profits. For the purposes of this Agreement, the profits of the Joint Venture shall be calculated as follows: (a) The expenses of conducting the Joint Venture shall be deducted from the income of the Joint Venture. The expenses of conducting the Joint Venture shall include all expenses customarily incurred by businesses similar to the Joint Venture. (b) In regards to the San Francisco, San Diego and Dallas Restaurants, after the payment of expenses as described above and retention of adequate operating and capital reserves, Roy’s and Outback shall each be entitled to receive equal distributions of any remaining available cash. As to all other Restaurants, the parties agree that except for distributions necessary to enable each party to pay their respective income tax obligations, all available cash from operations shall be reinvested into new Restaurants.

Calculation of Profits. The participation of the invested amounts in the profit shall start from the Business Day following the day in which the fund is deposited.

Calculation of Profits. The participation of amounts in the Mudaraba Accounts in the profit shall start from the Business Day in which the funds are deposited in the Mudaraba Account, unless indicated otherwise in these Terms and Conditions.

Calculation of Profits. For the purposes of this Plan, a. Profits shall be defined as Earnings Before Interest and Taxes of the Company, calculated on a consolidated basis in accordance with United States Generally Accepted Accounting Principles (GAAP), with the following exclusions: (1) onerous contracts, income or loss related to any charges or credits (whether or not identified as special credits or charges) for unusual, infrequently occurring or extraordinary items as defined by GAAP, including credits or charges for plant closures, business dispositions and asset sales that are not normal operating charges or credits of the Company; any cost or expense associated with the Benefit Trust or other similar vehicle;

Calculation of Profits. The Debtors and Consultants acknowledge that in the event Consultants, as a result of this Agreement, receive shares of the Caye Stock, they may be considered an "affiliate" subject to Section 16(b) of the Securities Exchange Act of 1934 (the "'34 Act"). In this regard, Debtors and Consultants agree that for the purposes of any "profit" computation under Section 16(b) of the '34 Act, the price paid for such shares is equal to the amount of the debts and unpaid claims forgiven.

Calculation of Profits a. Profit shall be defined as Income from Operations of the Company, calculated on a consolidated basis in accordance with the United States Generally Accepted Accounting Principles (GAAP), with the following exclusions: (1) Income or loss related to any charges or credits (whether or not identified as special credits or charges) for unusual, infrequently occurring or extraordinary items, including credits or charges for Plant closures, business dispositions and asset sales that are not normal operating charges or credits of the Company; (2) Any cost or expense associated with the Benefit Trust; (3) Any cost or expense associated with the Profit Offset; (4) Any cost or expense associated with the Profit Sharing Plan; and (5) Any payments, fees or other expenses that are not in the normal course of business paid directly or indirectly to any person or entity who directly or indirectly owns or controls any equity or equity-like interest in the Company.

Calculation of Profits. For purposes of this Agreement, the term ----------------------- "Net Proceeds" means the proceeds realized upon the disposition or refinancing of the Property less Company's cost basis in the Property; provided, however, that for purposes of the calculation of Net Proceeds, all operating losses or operating profits relating to the Property shall be excluded.