Common use of Net Profits and Net Losses Clause in Contracts

Net Profits and Net Losses. “Net Profits” and ‘‘Net Losses” shall mean the net profits or net losses of the Company for any specified period, taking into account each item of income, gain, loss, and deduction for such period, including the following deductions or reserves:

Net Profits and Net Losses. “Net Profits” and ‘‘“Net Losses” shall mean means, with respect to any period, the net profits or net losses income and loss of the Company for any specified period, taking into account each item of income, gain, loss, and deduction such period as determined in accordance with the accounting method followed by the Company for such periodbook purposes, including the following income exempt from tax and described in Code Section 705(a)(1)(B) and treating as deductions or reserves:items described in Code Section 705(a)(2)(B).

Net Profits and Net Losses. “Net ProfitsProfit” and ‘‘“Net LossesLoss” shall mean the net profits or net losses means, for each Fiscal Year of the Company (or other period for any specified periodwhich Net Profit or Net Loss must be computed), taking into account each item the Company’s taxable income or loss determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, and or deduction for such periodrequired to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), including with the following deductions or reservesadjustments:

Net Profits and Net Losses. “Net Profits” and ‘‘Net Losses” shall mean the net profits or net losses of the Company Fund for any specified period, taking into account each item of income, gain, loss, and deduction for such period, including the following deductions or reserves:

Net Profits and Net Losses. “The "Net Profits” " and ‘‘"Net Losses” shall mean the net profits or net losses " of the Company means the net income and net losses (as described in Section 2.1 above), respectively, of the Company. For purposes of computing Net Profits and Net Losses, the "book" value of an asset shall be substituted for any specified periodits adjusted tax basis if the two differ, taking into account each item of income, gain, loss, but otherwise Net Profits and deduction for such period, including the following deductions or reserves:Net Losses shall be determined in accordance with federal income tax principles.

Net Profits and Net Losses. “Net Profits” " and ‘‘"Net Losses” " shall mean * the net profits or net losses of the Company Fund for any specified period, taking * into account each item of income, gain, loss, and deduction for such period, * including the following deductions or reserves: