FAVORED PROFIT STRUCTURE Sample Clauses

FAVORED PROFIT STRUCTURE. In no event shall Thane's administration fees or other costs allocated to the Corporation's products and/or projects be structured to be less favorable overall to the Corporation than any other third-party that has contracted with Thane for distribution. EXHIBIT A FORM OF PROMISSORY NOTE $714,250 May 22, 2002 The undersigned (the "Maker"), for value received, hereby unconditionally promises to pay to the order of Thane International, Inc., a Delaware corporation (together with its successors and assigns, the "Payee"), the principal sum of Seven Hundred Fourteen Thousand Two Hundred Fifty Dollars ($714,250) in lawful money of the United States of America, together with interest (computed on the basis of a 360-day year of twelve 30-day months including the first day, but excluding the last day), in like money and funds, on the unpaid portion of said principal amount from the date hereof at the rate of six percent (6.0%) per annum. This Promissory Note (the "Note") shall be due and payable on May 31, 2005 (the "Maturity Date"). This Note evidences certain indebtedness incurred by the Maker pursuant to that certain Employment Agreement, dated as of the date hereof, by and between the Payee, Reliant Interactive Media Corp., a Nevada corporation (the "Corporation"), and the Maker. This Note shall be secured, pursuant to that certain Pledge Agreement dated as of the date hereof, by the 73,809 shares of common stock, par value $0.001 per share, of the Payee (the "Escrow Shares"), beneficially owned by the Maker that are held in escrow pursuant to that certain Escrow Agreement, dated as of the date hereof, by and among the Payee, Reliant, the Maker, the stockholders of the Payee named therein and the stockholders of Reliant named therein (the "Escrow Agreement"). All of the covenants, stipulations, promises and agreements in this Note contained by or on behalf of the Maker shall bind his or her heirs and successors, whether so expressed or not. In the event that this Note is negotiated, endorsed, assigned, transferred, hypothecated and/or pledged, all references to the Payee shall apply to the holder, pledgee or transferee as if named as the original Payee under this Note. The Maker hereby waives presentment, demand for payment, notice of dishonor, notice of protest, protest and all other notices or demands in connection with the delivery, acceptance, performance, default, endorsement or guaranty of this Note. The obligation to make payments to the Payee hereunder ...
Sample 1
AutoNDA by SimpleDocs
FAVORED PROFIT STRUCTURE. In no event shall Thane's administration fees or other costs allocated to the Corporation's products and/or projects be structured to be less favorable overall to the Corporation than any other third-party that has contracted with Thane for distribution.
Sample 1

Related to FAVORED PROFIT STRUCTURE

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Allocation of Profit and Loss Article V, Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • Net Loss After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows:

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.

  • Variances From Operating Budget Furnish Agent, concurrently with the delivery of the financial statements referred to in Section 9.7 and each monthly report, a written report summarizing all material variances from budgets submitted by Borrowers pursuant to Section 9.12 and a discussion and analysis by management with respect to such variances.

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

  • Carrybacks (a) The carryback of any loss, credit or other Tax Attribute from any Post-Closing Period shall be in accordance with the provisions of the Code and Treasury Regulations (and any applicable state, local or foreign Laws).

  • Net Income and Net Loss All net income or net loss of the Company shall be for the account of the Member.

Time is Money Join Law Insider Premium to draft better contracts faster.