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 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: (a) expenses, maintenance, and overhead charges of the operations of the Company’s business, including operating expenses and working capital needs; and (b) reserves for accrued or contingent liabilities required by GAAP or as the Manager deems appropriate.

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 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. “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. “(a) The Net Profits” Profits and ‘‘Net Losses” shall mean the net profits or net losses Losses of the Company for any specified period, taking into account each item purposes of income, gain, loss, determining allocations to the Capital Accounts of the Members shall be determined in the same manner as set forth in the definition of "Net Profits" and deduction for such period, including "Net Losses" in Section 1.01 of the following deductions or reserves:Agreement.

Net Profits and Net Losses. The “Net Profits” and ‘‘“Net Losses” shall of the Company mean the net profits or income and net losses losses, respectively, of the Company for any specified period(including without limitation those attributable to Capital Events); provided, taking into account each item of incomehowever, gain, loss, and deduction for such period, including that the following deductions items shall be excluded from the computation of Net Profits and Net Losses: (a) Any gain or reserves:income specially allocated under paragraphs 1(a), 1(b) or 1(c) of Exhibit A attached hereto. (b) Any Nonrecourse Deductions.

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.