Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises, Landlord shall receive 50% of any “Net Profits” (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent paid by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant’s documented reasonable costs associated with such assignment or subletting, including, without limitation, brokerage commissions, marketing costs, free rent, attorney fees and any costs incurred by Tenant to prepare or alter the Premises, or portion thereof, for the assignee or sublessee.
Distribution of Net Profits. Any Net Profits in excess of the Preferred Return shall be distributed to Members on a monthly basis (and pro-rated for the amount of time that a Member was a member of the Company) as follows: Fifty Percent (50%) of the Net Profits of the Company shall be distributed to the Members on a pro-rata basis, and the remaining Fifty Percent (50%) of the Net Profits of the Company shall be distributed to the Manager. Net Profits shall only be distributed to the extent cash is available and provided that said distributions will not impact the continuing operation of the Company, subject to the sole and absolute discretion of the Manager.
Distribution of Net Profits. The Net Profits shall be distributed on a quarterly basis as follows:
(1) First, to pay the Preferred Return to Members on a pro-rata basis;
(2) Second, from any remaining amount of Net Profits following the payment of the Preferred Return referred to in Section 4.4(b)(1) above, to pay StartEngine per quarter, until StartEngine has received an amount, as calculated by the Manager, equal to an annual rate of Two Percent (2%) of the aggregate capital account balances of the Members (pro-rated as applicable on the same basis as the Preferred Return; that is, the amount of time a Member was a member of the Company during such quarter) (“Platform Fee”); and
(3) Thereafter, of the remaining cash, One Hundred Percent (100%) of such cash will be distributed to the Members on a pro-rata basis. All cash distributions of Net Profits will be made on a quarterly basis, in arrears, and distributions to Members shall be prorated as applicable for the amount of time that a Member was a member of the Company during such accounting period. Distribution of cash is not guaranteed, and shall be made only to the extent cash is available and provided that the distributions will not impact the continuing operations of the Company, subject to the sole and absolute discretion of the Manager.
Distribution of Net Profits. Owner's share of Net Profits realized during any calendar quarter shall be distributed to Owner within forty-five (45) days following the end of such calendar quarter. Such distributions of Net Profits shall be accompanied by a statement showing in reasonable detail the derivation of Net Profits. Statements for the first, second, and third quarters of each calendar year and the accompanying distributions to Owner shall be provisional pending final determination of Net Profits for the entire calendar year.
Distribution of Net Profits. Notwithstanding anything to the contrary contained in the Management Contract, the Tribe and Grand Casinos/Tunica-Biloxi shall not distribute during any calendar month any Net Profits unless and until: (a) the requirements of Article 3 of the Dominion Account Agreement have been satisfied; and (b) any other sums currently due to the Bank under the Loan Documents and the Existing Loan Agreement have been paid in full. Further, the Tribe and Grand Casinos/Tunica-Biloxi shall not distribute any Net Profits under the Management Contract so long as an Event of Default exists under this Agreement and/or the Existing Loan Agreement. In addition to the foregoing, the Tribe shall not pay management fees or other compensation to the Grand Entities unless payments to the Bank under the Loan Documents and the Existing Loan Agreement are current.
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term other than in accordance with Sections 10.4 or 10.5,, Landlord shall receive 50% of any “Net Profits” (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, sublease plus any bonus or other consideration therefor or incident thereto, after deducting from such excess Rent all of Tenant's documented reasonable third party costs associated with such assignment or subletting, including, without limitation, broker commissions, attorney fees, marketing expenses, costs paid to Landlord in obtaining Landlord’s consent to the assignment or sublease, rent concessions, tenant improvement allowances, and any costs incurred by Tenant to prepare or alter the Premises, or portion thereof, for the assignee or sublessee.
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term, Landlord shall receive 50% of any “Net Profits” (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant’s documented reasonable third party costs associated with such assignment or subletting, including, without limitation, broker commissions, attorney fees, any costs incurred by Tenant to prepare or alter the Premises, or portion thereof, for the assignee or sublessee and any free rent periods, reduced rent periods, improvements allowances, moving allowances or other market economic concessions granted by Tenant in the applicable assignment or sublease.
Distribution of Net Profits. Within ten (10) business days of the end of each month, Interpharm shall provide to Tris a calculation of the Net Profits due to it based on monies actually collected and received by it (the "Net Profit Statement") along with the payment of Tris' share of Net Profits due. In the event that Interpharm fails to make any payment of Net Profits, Tris's sole remedy shall be the commencement of an arbitration in accordance with Section 8.2.
Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term to any entity, Landlord shall receive fifty percent (50%) of any "Net Profits" (as hereinafter defined) and Tenant shall receive fifty percent (50%) of any Net Profits received by Tenant from any such assignment or subletting. The term "Net Profits" as used herein shall mean such portion 5055 Wilshire - Playboy Enterprises, Inc. - Lease 12/22/98 of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent the following:
Distribution of Net Profits. The Net Profits shall be distributed on a quarterly basis as follows:
(1) First, to pay the Preferred Return to Members on a pro-rata basis;
(2) Thereafter, of the remaining cash, One Hundred Percent (100%) of such cash will be distributed to the Members on a pro-rata basis. All cash distributions of Net Profits will be made on a quarterly basis, in arrears, and distributions to Members shall be prorated as applicable for the amount of time that a Member was a member of the Company during such accounting period. Distribution of cash is not guaranteed, and shall be made only to the extent cash is available and provided that the distributions will not impact the continuing operations of the Company, subject to the sole and absolute discretion of the Manager.
