Modern's Share of Net Profits Sample Clauses

Modern's Share of Net Profits. You shall account for and pay to ------------------------------ us 10% of the "Net Profits" derived throughout the Territory during the Term, regardless of when such Net Profits are received by or credited to you. As used herein, the term "Net Profits" shall mean the following: (a) the excess of the aggregate gross receipts from the Play over the aggregate production expenses, running expenses, other customary expenses, and, if applicable, shares of a royalty pool paid to percentage royalty participants; and (b) net proceeds from the sale or other disposition of each and all of the "Subsidiary Rights", after deduction of third party participants (e.g., director and/or choreographer, bookwriter, and composers). The term "Subsidiary Rights" shall mean worldwide dramatico-musical stage production rights, including, without limitation, foreign language performances, first-class performances, second-class performances, amateur performances, stock performances (e.g., performances at regional theaters, repertory theaters, non-profit theaters, resident theaters, university resident theaters and dinner theaters), condensed performances, concert-form versions, revival performances, opera versions based upon the Play, merchandising rights (e.g., wearing apparel, toys, games, figures, dolls, novelties, greeting cards and other physical properties representing a character in the Play or the use of the name, characters, or title of the Play), publishing rights with respect to the book of the Play, media production rights (e.g., motion pictures, television programs, video cassette/disc productions, Internet productions, and all other audio and/or visual productions related to or based upon the Play in any and all media, whether now known or hereafter developed) and all other subsidiary rights with respect to the Play in any and all media, whether now known or hereafter developed. Subsidiary Rights shall only exclude those rights specifically granted to us pursuant to this Agreement with respect to the Masters and Compositions and only for so long as we retain those rights. Net Profits shall be computed, defined, accounted for and paid on a basis which is no less favorable than that applicable to any other investor in the Play (but no less frequently than quarterly in any event). You shall maintain (and use reasonable efforts to cause all applicable third parties to maintain) true and complete books and records of account in connection with the Play (and you shall not dis...
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Related to Modern's Share of Net Profits

  • 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.

  • Allocations of Net Profits and Net Losses (a) After giving effect to the allocations under Sections 4.2 and 7.1(b)(v), Net Profits and Net Losses and all related items of income, gain, loss, deduction and credit for each Fiscal Period shall be allocated among the Members in such manner as shall cause the Capital Accounts of each Member to equal, as nearly as possible, (i) the amount such Member would receive if all assets on hand at the end of such year were sold for cash at the Carrying Values of such assets, all liabilities were satisfied in cash in accordance with their terms (limited in the case of Member Nonrecourse Debt and Company Nonrecourse Liabilities to the Carrying Value of the assets securing such liabilities), and any remaining or resulting cash was distributed to the Members under Section 4.4(a), minus (ii) an amount equal to such Member’s allocable share of Minimum Gain as computed immediately prior to the deemed sale described in clause (i) above in accordance with the applicable Treasury Regulations, and minus (iii) the amount any such Member is treated as obligated to contribute to the Company, computed immediately after the deemed sale described in clause (i) above.

  • 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.

  • 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.

  • Net Profits Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:

  • Distribution of Net Cash Flow Net Cash Flow shall be distributed among the Partners in accordance with their Partnership Percentages at such times and in such amounts as shall be determined by the General Partner.

  • 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.

  • Net Profit The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority:

  • Accounting for Profits Employee covenants and agrees that if he shall violate any of his covenants or agreements under Article 2 hereof, Company shall be entitled to an accounting and repayment of all profits, compensation, commissions, remunerations or benefits which Employee directly or indirectly has realized and/or may realize as a result of, growing out of or in connection with any such violation; such remedy shall be in addition to and not in limitation of any injunctive relief or other rights or remedies to which Company is or may be entitled at law or in equity or under this Agreement.

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