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DISTRIBUTION OF NET PROFIT Sample Clauses

DISTRIBUTION OF NET PROFIT. To the extent permitted by law, the Net Profit of the Joint Venture from the sale of Assets and/or Products (for the purposes of this section not including taking in kind, as provided for in Part 14) available for distribution, after making such provisions for any Program or Budget as are required in the opinion (expressed by resolution) of the Management Committee, will be distributed quarterly within 60 days of the end of each calendar quarter unless otherwise agreed to in writing by the Participants.
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DISTRIBUTION OF NET PROFIT. 5.1 In the event that (i) the 2014 Performance Parameter is 1 or more and the Group’s audited Net Profits for the Fiscal Year ending on 31 December, 2014 exceeds HK$***, and/or (ii) the 2015 Performance Parameter is 1 or more and the Group’s audited Net Profits for the Fiscal Year ending on 31 December, 2015 exceeds HK$***, in each case, such excess Net Profits (“Excess Net Profits”) shall be paid to certain management members as determined in accordance with paragraph 5.2 to 5.4 below, net of any withholding tax. 5.2 Within thirty (30) days after the Reference Accounts for the applicable Fiscal Year is available and only if there are any Excess Net Profits, Mr Lap Man and the then CEO of Xxxxxxxx.xxx Limited shall jointly submit to the board of directors of Xxxxxxxx.xxx Limited a list of management members who are eligible for Excess Net Profits and a draft distribution plan of Excess Net Profits among such management members, provided that management members entitled to such distribution must be: (a) any current employee of the Group Companies; or (b) any individual providing services to any of the Group Companies through secondment arrangement between any Group Company and Shanghai Qianjin Network Information Technology (Shanghai) Co., Ltd. 5.3 Within thirty (30) days after receiving the list of management members and the distribution plan, the board of directors of Xxxxxxxx.xxx shall determine the final distribution plan. 5.4 Within ten (10) Business Days after the final distribution plan is determined, Xxxxxxxx.xxx Limited (or the Company as the case may be) shall distribute Excess Net Profits pursuant to the final distribution plan and provide evidence of such distribution to the Purchaser.
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DISTRIBUTION OF NET PROFIT. 10.2.1 Subject to Clause 10.1, the Company shall distribute to the Shareholders such percentage as the Board determines of the Company's profits lawfully available for distribution in each financial year, and the Board shall determine the amount of available profits that each Group Company shall distribute to its shareholders in each financial year. All distributions shall be apportioned and paid proportionately on the Shares. 10.2.2 The annual general meeting of the Company at which Audited Accounts are laid before the Shareholders must be held not later than three months after the end of the relevant financial year. 10.2.3 The Auditors shall be instructed to report (at the expense of the Company) the amount of the profits available for distribution by the Company at the same time as they sign their report on the Audited Accounts.
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DISTRIBUTION OF NET PROFIT. 5.1.1 The annual general meeting of the Company at which Audited Accounts are laid before the Shareholders must be held as soon as practicable but not later than 4 months after the end of the relevant financial year. 5.1.2 The Auditors shall be instructed to report (at the expense of the Company) the amount of the profits available for distribution by the Company at the same time as they sign their report on the Audited Accounts. 5.1.3 The Company shall each year distribute to the Shareholders a percentage as the Board determines of all of the Company’s profits lawfully available for distribution of the then most recently ended financial year subject to the Board making reasonable provisions and transfers to reserves and retaining adequate funds for the Company’s planned cash outflows and capital expenditure as set out in the Business Plan. 5.1.4 Each Group Company (excluding the Company) shall distribute to its shareholders all of its available profits in each financial year unless otherwise determined by the Board.
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DISTRIBUTION OF NET PROFIT. 5.1 The profits of the Company available for distribution, after making such provisions and transfers to reserves as shall be required in the opinion of the Board and the Operator to meet expenses or anticipated expenses shall be distributed quarterly, within sixty (60) days of the end of each calendar quarter, firstly by way of repayment of Loans on a pro rata basis and secondly by way of dividend provided that it is open to a Shareholder to elect to receive such Loan repayments or dividends in gold and/or silver in which case such shareholder shall be entitled to receive such amount of gold and/or silver (valued using the average price of gold and silver for the previous 30 days as determined by the afternoon closing price on the London Metal Exchange) as shall be equal to the value of the dividend or loan repayments otherwise payable to such Shareholder.
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DISTRIBUTION OF NET PROFIT. Net profit determined as set forth in the article above shall be distributed as follows: General Statutory Reserves:
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Related to DISTRIBUTION OF NET PROFIT

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

  • 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.

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  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Distribution of Cash (a) Subject to Sections 5.02(c), (d) and (e), the Partnership shall distribute cash at such times and in such amounts as are determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in proportion with their respective Percentage Interests on the Partnership Record Date. (b) In accordance with Section 4.04(a)(ii), the LTIP Unitholders shall be entitled to receive distributions in an amount per LTIP Unit equal to the Common Partnership Unit Distribution. (c) If a new or existing Partner acquires additional Partnership Units in exchange for a Capital Contribution on any date other than a Partnership Record Date, the cash distribution attributable to such additional Partnership Units relating to the Partnership Record Date next following the issuance of such additional Partnership Units shall be reduced in the proportion to (i) the number of days that such additional Partnership Units are held by such Partner bears to (ii) the number of days between such Partnership Record Date and the immediately preceding Partnership Record Date. (d) Notwithstanding any other provision of this Agreement, the General Partner is authorized to take any action that it determines to be necessary or appropriate to cause the Partnership to comply with any withholding requirements established under the Code or any other federal, state or local law including, without limitation, pursuant to Sections 1441, 1442, 1445 and 1446 of the Code. To the extent that the Partnership is required to withhold and pay over to any taxing authority any amount resulting from the allocation or distribution of income to a Partner or assignee (including by reason of Section 1446 of the Code), either (i) if the actual amount to be distributed to the Partner (the “Distributable Amount”) equals or exceeds the Withheld Amount, the entire Distributable Amount shall be treated as a distribution of cash to such Partner, or (ii) if the Distributable Amount is less than the Withheld Amount, the excess of the Withheld Amount over the Distributable Amount shall be treated as a Partnership Loan from the Partnership to the Partner on the day the Partnership pays over such amount to a taxing authority. A Partnership Loan shall be repaid upon the demand of the Partnership or, alternatively, through withholding by the Partnership with respect to subsequent distributions to the applicable Partner or assignee. In the event that a Limited Partner fails to pay any amount owed to the Partnership with respect to the Partnership Loan within 15 days after demand for payment thereof is made by the Partnership on the Limited Partner, the General Partner, in its sole and absolute discretion, may elect to make the payment to the Partnership on behalf of such Defaulting Limited Partner. In such event, on the date of payment, the General Partner shall be deemed to have extended a General Partner Loan to the Defaulting Limited Partner in the amount of the payment made by the General Partner and shall succeed to all rights and remedies of the Partnership against the Defaulting Limited Partner as to that amount. Without limitation, the General Partner shall have the right to receive any distributions that otherwise would be made by the Partnership to the Defaulting Limited Partner until such time as the General Partner Loan has been paid in full, and any such distributions so received by the General Partner shall be treated as having been received by the Defaulting Limited Partner and immediately paid to the General Partner. Any amounts treated as a Partnership Loan or a General Partner Loan pursuant to this Section 5.02(d) shall bear interest at the lesser of (i) 300 basis points above the base rate on corporate loans at large United States money center commercial banks, as published from time to time in The Wall Street Journal, Eastern Edition, or (ii) the maximum lawful rate of interest on such obligation, such interest to accrue from the date the Partnership or the General Partner, as applicable, is deemed to extend the loan until such loan is repaid in full. (e) In no event may a Partner receive a distribution of cash with respect to a Partnership Unit if such Partner is entitled to receive a cash dividend as the holder of record of a REIT Common Share for which all or part of such Partnership Unit has been or will be redeemed.

  • Distribution of Overtime Overtime shall be distributed as equally as feasible among qualified employees customarily performing the kind of work required, and currently assigned to the work unit in which the overtime is to be worked. When the assignment of overtime work causes an unusual burden upon the employee, the employee shall not be required to work overtime unless the absence would cause the Agency to be unable to meet its responsibilities.

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Allocations of Net Income and Net Loss Except as otherwise provided in this Agreement, after giving effect to the special allocations in subparagraph 1(c) and paragraph 2, Net Income, Net Loss and, to the extent necessary, individual items of income, gain, loss or deduction, of the Partnership for each fiscal year or other applicable period of the Partnership shall be allocated among the General Partner and Limited Partners in accordance with their respective Percentage Interests.

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