P&L True-Up Contribution Sample Clauses

P&L True-Up Contribution. Until the earlier of (i) October 31, 2008 and (ii) the BSA Commencement Date, no later than ten (10) days after the end of the applicable True-Up Period (defined below), the Company shall provide written notice (“Notice”) to AAWW of the Company’s estimates of the amount by which, (i) the Net Operating Loss (if any) of the Company for the applicable True-Up Period, exceeds the Operating Loss Target for such True-Up Period (the “Excess Loss”); (ii) the Net Operating Loss (if any) of the Company for such True-Up Period is less than the Operating Loss Target for such True-Up Period (the “Recovered Loss”) or (iii) the Net Operating Profit (if any) of the Company for such True-Up Period exceeds the Operating Loss Target for such True-Up Period (the “Excess Profit”). For illustrative purposes, see examples on Exhibit B. The Company shall attach to such Notice drafts of financial statements of the Company for such True-Up Period, prepared in accordance with generally accepted accounting principles (applied consistently with past practice) and the applicable provisions of the Stockholders Agreement, dated as of the date hereof, by and among the Investor, AAWW and the Company. i. In the event that there is an estimated Excess Loss, within five (5) days of receipt of the Notice, AAWW will make a cash capital contribution to the Company in the amount equal to such estimated Excess Loss. ii. In the event that there is an estimated Recovered Loss, such amount shall be available as an amount that may be declared and paid by the Company as a non pro rata cash dividend or distribution with respect to the Class A Common Stock. In the event that there is an estimated Excess Profit, such amount shall be reduced by the product of (a) 40% and (b) the estimated Excess Profit, if the Operating Loss Target is zero, or the estimated Net Operating Profit, if the Operating Loss Target is negative, (the amount by which such Excess Profit is reduced being the assumed amount of Taxes that will be owed with respect to such Excess Profit (or Net Operating Profit) (the “Assumed Taxes”)), and the reduced amount (the estimated “Assumed After-Tax Excess Profit”) shall be available as an amount that may be declared and paid by the Company as a non pro rata cash dividend or distribution with respect to Class A Common Stock. iii. The financial statements referred to in Section 1(c) will be subject to audit by the Auditor (defined in the Stockholder Agreement) as of the end of each True-Up Period...
Sample 1
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Related to P&L True-Up Contribution

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • The Contribution Prior to the Effective Time, and subject to the terms and conditions set forth in the Distribution Agreement, Grace intends to cause the transfer to a wholly owned subsidiary of Grace-Conn. ("Packco") of certain assets and liabilities of Grace and its subsidiaries predominantly related to the Packaging Business (the "Contribution"), as contemplated by the Distribution Agreement and the Other Agreements.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

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