DIVISION OF PROFITS Sample Clauses
DIVISION OF PROFITS. Property will be sold for cash unless otherwise agreed in writing. Investor will receive 100% of their original investment, including associated closing and any other costs for the said property in addition to 50% of all NET profits made. Manager will receive 50% of all NET profits made. Profits are the difference between the amount of the purchase (including closing costs and taxes) and sales agreement when buying and selling the property. Specifically excluded are either party’s fixed costs associated or unassociated with the purchase or sale of this property (i.e. marketing.)
DIVISION OF PROFITS. The Company shall, after payment of its corporate income tax, annually certain proportion of at least 10% of the remaining profits will be used for establishing a reserve fund. This will be subject to the decision of the Members’ Council from time to time. In accordance with the ratio of the Charter Capital contribution of the Parties as stated in Article 9 above, the remaining profits of the Company shall be allocated to the Parties based on the ratio of the Charter Capital contribution according to the decisions of the Members’ Council.
DIVISION OF PROFITS and Losses from the sales of a Product arising out of the Development Program for cancer indications shall be * from the date of the Initial Commercial Sale or license to a third party, its Affiliates, or sublicensees of such Product in such country (or, if the parties are Co-Promoting a Product in a country, the date on which premarketing expenses are first incurred), *
DIVISION OF PROFITS. Subject to the rights of persons, if any, entitled to shares with special rights as to dividends, all dividends shall be declared and paid according to the amounts paid or credited as paid on the sharesin respect whereof the dividend is paid, but if and so long as nothing is paid upon any of the shares in the Company, dividends may be declared and paid according to the amounts of the shares.
DIVISION OF PROFITS. The profits of the Corporation, if divided, shall be shared among the parties in proportion to their respective subscriptions. LIABILITY OF THE PARTIES HEREUNDER
DIVISION OF PROFITS. Each of the Members shall own an interest in the Company as set forth in the records of the Company. All profits of the Company shall be allocated to each Member's account in accordance with his ownership percentage. Unless unanimously otherwise agreed by the Members in the form of amendment to the Articles or this Operating Agreement, there will be only one Member, initially and he will retain 100% interest and be active in the management of the company. A separate capital account will be maintained for each Member, when more than one member. No Member shall make any withdrawal from capital, or receive any distribution of profits or surplus cash without prior approval of the Board of Managers and unanimous consent of the Members.
DIVISION OF PROFITS. Profits of the joint venture company shall be distributed to the parties according to each party's respective share holdings in the joint venture company.
DIVISION OF PROFITS. (a) Profits or losses of the Joint Venture shall be allocated to the capital accounts of the Venturers in proportion to their respective ownership interests. All tax and other items separately allocated shall be allocated in proportion to aggregate profit or loss.
(b) The Profits of the Joint Venture shall be distributed to the Venturers in the discretion of the Board of Managers. All distributions shall be in proportion to capital account balances. Either Venturer may require, to the extent that cash is available, that a distribution shall be made to each of the Venturers in an amount at least sufficient to pay estimated Federal and State income taxes on the taxable income of the Joint Venture, assuming each Venturer to be subject to such taxes at the maximum applicable effective rate, net, in the case of Federal taxes, of the benefit of the deduction of State taxes. Further, if combined capital accounts of the Venturers exceed $1,000,000, either Venturer may require, to the extent of available cash, a distribution to the Venturers of an amount not more than the amount by which such combined capital accounts exceed $1,000,000.
(c) As used herein, the term "Profits" shall mean the total amount of funds of the Joint Venture: - after payment of (i) all Venture Costs and any other costs and charges ------------- incurred in the performance of the Project; (ii) all other costs and charges provided in this Agreement to be paid or borne by the Joint Venture theretofore due and payable; and (iii) any and all liens and claims against the Project or the Joint Venture (unless covered by insurance and being defended, without reservation of right, by the insurer or unless the parties agree in good faith to contest the same and maintain an adequate reserve therefor as set forth below); - and after the retention of adequate and reasonable reserves for (iv) -------------------------- any liens or claims which either have been brought against the Project or the Joint Venture and not paid or covered by insurance (but contested as provided above) or which are reasonably anticipated by the Venturers to be brought and for (v) all other monetary obligations of the Joint Venture or the Venturers on its behalf not then due and payable, including a cash reserve approximately equal to an average one month's operating expenses of the Joint Venture; and - after repayment to the Venturers of (vi) all sums advanced by the ----------------------------------- Venturers for working capit...
DIVISION OF PROFITS. EOL and PMXG shall equally share in the gross profits generated by the Machines. Gross profits are defined as the profits received from the sale of the gold after deducting basic expenses such as rental location fees and administrative expenses. Unless otherwise agreed by the parties, PMXG will pay the costs of initial advertising and promotion to publicize this test contract and generate interest in retail sales and licensing/franchising opportunities. EOL has the right to have PMXG's books and records regarding the Gold ATM business (including but not limited to wholesale receipts from gold suppliers and other receipts concerning the operational expenses regarding the Machines) audited by a public certified accountant or any other professional advisors which is bound by professional confidentiality duties. The audit shall have the sole objective to verify the correctness of the calculation of the division of profits and the accurateness of EOL's profit share. In case an audit shows any incorrectness of the calculation and the division of profits, PMXG shall bear the costs of the audit.
DIVISION OF PROFITS a) The Parties agree to vote their shares in all shareholders’ meetings held during 2016 such that during this year, dividends against profits earned in 2015 and earlier that are retained in the assets of the company on December 31, 2015 are not issued or paid.
b) The parties agree that for 2016 the profits obtained in 2015 and earlier that are retained in the assets of the company on December 31, 2015 shall not be assigned to finance losses of the Company.