Definition of Net Profits and Net Losses. The terms "net profits" and "net losses" as used in this Agreement shall mean the net profits and the net losses of the Partnership as determined under generally accepted accounting principles by a nationally-recognized firm of independent certified public accountants servicing the Partnership account.
Definition of Net Profits. The term "net profits before taxes" as used herein with respect to the Dress and Multiples Divisions shall mean all revenue from sales of garments derived from the Dress Division or the Multiples Division, as the case may be, minus expenses incurred by such Division, including (i) factoring fees and costs allocable to that Division as well as (ii) such Division's share of corporate data processing costs and expenses and corporate general and administrative expenses which corporate expenses in the aggregate shall not exceed 10% of such Division's revenue. Net profits before taxes for the Dress Division and Multiples Division, as the case may be, and the Employer's net profits before taxes shall be determined by the Employer in accordance with its historical internal accounting practices as consistently applied for prior periods.
Definition of Net Profits. For purposes of Section 2.1, net profits shall be defined as total revenue minus expenses, costs and taxes; and shall be computed by the DSKX independent auditors and duly confirmed by DMEXICO´s statutory examiner. In case of discrepancy between the number provided by the DSKX independent auditors and DMEXICO´s statutory examiner, the parties shall appoint a third party accountant who will resolve the controversy and whose final calculation shall be binding to both parties.
Definition of Net Profits. Net Profits shall be ------------------------- calculated whenever the Properties generate revenues, and no less frequently than once per calendar quarter. For purposes of this Agreement, "Net Profits" means all cash receipts arising from the Venture's exploitation of the Properties, less all (a) unpaid operating charges and expenses of the Venture, including, without limitation, debt service on the Venture's indebtedness, provided that such charges and expenses are approved by the Venturers as provided in this Agreement, (b) other unreimbursed costs in connection with the Venture, and (c) reasonable reserves required for the operation of the Venture, as determined by mutual agreement of the Venturers.
Definition of Net Profits. 1.1 Net Profits of a Participant shall be any excess of such Participant’s cumulative Receipts over its cumulative Disbursements, determined as of the date of computation.
