Income Adjustment Sample Clauses

Income Adjustment. The “Purchase Price Income Adjustment” shall mean the amount calculated by subtracting the aggregate positive Unleveraged Cash Flow (or adding the aggregate Unleveraged Cash Flow, if negative) from and including January 1, 2007 to the close of business on the Sunday immediately preceding the Closing Date from the aggregate Income Accretion Amount from and including January 1, 2007 to the Sunday immediately preceding the Closing Date. No later than the fourth Business Day prior to the close of business on the day preceding the Closing Date, the Sellers shall prepare and deliver to the Buyer an officer’s certificate, certifying as to the estimated Purchase Price Income Adjustment as of the Sunday immediately prior to the Closing Date (the “Estimated Income Adjustment Amount”), which certificate shall be accompanied by a statement of the EBITDA, Capital Expenditures, Unleveraged Cash Flow and Income Accretion Amount of the Companies from and including January 1, 2007 through the Sunday immediately prior to the Closing Date, to be prepared from the books and records of the Companies in accordance with GAAP, where applicable, and in a manner consistent with the preparation of the Financial Statements; provided, that for purposes of the Estimated Income Adjustment Amount, the Unleveraged Cash Flow for the week ending on the Sunday immediately prior to the Closing Date shall be the projected Unleveraged Cash Flow for such period as set forth on Exhibit 2.3(a) attached hereto. A representative calculation of the Estimated Income Adjustment Amount is attached hereto as Exhibit 2.3(a). The Purchase Price payable at the Closing shall be increased or decreased, on a dollar for dollar basis, by the Estimated Income Adjustment Amount.
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Income Adjustment. (a) Where the restructuring process results in an employee's TRP or allowances being reduced due to:
Income Adjustment. Seller projects that the Business will produce ----------------- Adjusted Income (defined below) in calendar years 1998 and 1999 of $1,856,000 in the aggregate, exclusive of any new earnings produced by Purchaser that are not from Paccar, Inc. (the "Projected Income"). To the extent that the actual Adjusted Income produced by the Business in calendar years 1998 and 1999 in the aggregate, exclusive of any new earnings produced by Purchaser that are not earnings from Paccar, Inc. that constituted a part of the Business prior to the Effective Date (other than earnings from Paccar, Inc.'s Kenworth Division relating to products manufactured by processes currently used in production by Seller, which shall constitute earnings produced by Seller) (the "Actual Income"), is less than the Projected Income, the Initial Purchase Price shall be reduced by an amount (the "Income Adjustment") equal to the lesser of (i) $305,000 or (ii) the amount by which the Projected Income exceeds the Actual Income. For purposes of this Agreement, "Adjusted Income" means the Business's earnings before interest, taxes, depreciation and amortization, excluding (i) any principal or interest payments to the Former Shareholder pursuant to the consulting agreement described in Section 2.1(v), (ii) the Stock Liability (defined in Section 2.2), (iii) income from any sale of the assets of the Business other than in the ordinary course of business, and (iv) any increase in overhead or direct costs mandated by Purchaser. The Income Adjustment, if any, is to be made pursuant to the Note (as defined in Section 3.6(b)) and if there is any inconsistency between the terms of this Section 3.2 and the terms of the Note, the terms of the Note shall prevail. Notwithstanding the foregoing, in the event that Purchaser should sell or transfer a substantial portion of the Assets or Business during calendar years 1998 or 1999 without the prior written consent of Seller (which consent will not be unreasonably withheld provided that such sale or transfer does not adversely affect the projected earnings of the Business), the terms of this Section 3.2 and the Income Adjustment shall lapse.
Income Adjustment. If the income before taxes for the ----------------- Business ("Net Income") for the 1997 calendar year as reflected on the Post Closing Audit is materially less than the Net Income set forth in the 1997 Financial Statements provided pursuant to Section 4.5, the Seller and the Shareholders shall return to the Buyer a pro-rata number of the Initial Shares based upon the ratio of the Net Income reflected on the Post Closing Audit that differs by more than 15% from the Net Income reflected on the 1997 Financial Statements delivered pursuant to Section 4.5 below. For purposes of making the adjustment required by this paragraph, Net Income shall be calculated consistent with the method used in determining the Cash Price Adjustment provided for in Section 1.2 without giving effect to any of the adjustments causing a Cash Price Adjustment, it being acknowledged and agreed that the parties intend that any effects the calculation of the Cash Price Adjustment may have upon the Net Income shall be disregarded and not be double counted against the Seller.
Income Adjustment. The Purchase Price shall be increased or decreased as the case may be, by the amount that the consolidated income from operations of L&L for the twelve-month period ending March 31, 1998, is greater than or less than the sum of One Hundred Ten Thousand and Nine Hundred dollars ($110,900). Furthermore, Seller warrants that L&L consolidated net tangible assets at October 31, 1997 were Five Hundred Forty-Five Thousand Seven Hundred dollars ($545,700). Since October 31, 1997 and until the Effective Date, there shall have been no reduction in L&L consolidated net tangible assets other than resulting from net income or loss from operations in the normal course of business and the reduction, if any, has been included in the income adjustment described above. The Purchase Price shall be reduced by the amount of reduction, if any, to L&L consolidated net tangible assets as of the Effective Date that is not reflected in the above income adjustment.

Related to Income Adjustment

  • CPI Adjustment In this Agreement, “CPI-Adjusted” in reference to an amount means that amount is adjusted under the following formula: N  C  (1 CPIn  CPIc ) CPIc where: ”N” is the new amount being calculated; and “C” is the current amount being adjusted; and

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Tax Adjustment Tenant shall pay as additional rent for each Calendar Year that amount (the "Tax Adjustment Amount") which is Tenant's Proportionate Share of the amount by which the Taxes incurred with respect to such Calendar Year exceed the Tax Base Amount. The Tax Adjustment Amount with respect to each Calendar Year shall be paid in monthly installments, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following the close of each Calendar Year, Landlord shall cause the amount of the Tax Adjustment Amount for such Calendar Year to be computed based on Taxes for such Calendar Year and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceeds the actual Tax Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord's option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder. The amount of any refund of Taxes received by Landlord shall be credited against Taxes for the year in which such refund is received. In determining the amount of Taxes for any year, the amount of special assessments to be included shall be limited to the amount of the installment (plus any interest payable thereon) of such special assessment required to be paid during such year as if the Landlord had elected to have such special assessment paid over the maximum period of time permitted by law; if the authority to whom such assessment is to be paid shall not permit such assessment to be paid in installments, the amount of such assessment shall be treated as being amortized over such number of calendar years, beginning with the Calendar Year in which the assessment is payable, as Landlord shall reasonably determine, with interest at the rate of 15% per annum on the unamortized amount, and such amortization and interest for each Calendar Year shall be included in Taxes for that Calendar Year.

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • Year-End Adjustment 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 amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Share Adjustments If the Company's outstanding shares of Common Stock are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, combination of shares, stock dividend, or transaction having similar effect, the Board shall proportionately and appropriately adjust the number and kind of shares that are subject to this Option and the Exercise Price Per Share, without any change in the aggregate price to be paid therefor upon exercise of this Option.

  • Market Value Adjustment 16 3.07 Transfer of Current Value from the Funds or AG Account ............ 17 3.08 Notice to the Certificate Holder .................................. 18 3.09 Loans ............................................................. 18 3.10 Systematic Withdrawal Option (SWO) ................................ 18 3.11

  • Proportional Adjustment In the event the Corporation shall at any time after the issuance of any share or shares of Series A Participating Preferred Stock (i) declare any dividend on Common Stock of the Corporation ("COMMON STOCK") payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the Corporation shall simultaneously effect a proportional adjustment to the number of outstanding shares of Series A Participating Preferred Stock.

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

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