Common use of Profit Allocation Clause in Contracts

Profit Allocation. 4.01 The amount of PREMI Funds, as defined above, shall be $1,000,000,000 (one billion euros). Financing expenses will occur as the deal progresses and these expenses will be subtracted from the profit assessment at end of each trade period. PRMI will pay to GSAI paid 110% of the outstanding contact revenue that has been established PREMI instrument is revoked or canceled prior to the term of the agreement. 4.02 Commencing on the date per section 1.02 above and ending on the termination of the business of the JV, the following profit allocations shall occur: 1. The JV shall operate on a monthly schedule, with a month defined as any consecutive thirty days from date of origin. 2. No business of the JV shall commence until this LC is in full force and effect and accepted by GSAI, financial instution. 3. During each Month, for thirteen (13) consecutive Months; PREMI will receive 25% of gross Profits from Closed Transactions. Said funds will be placed into account designated by PREMI. The balance of the funds will be allocated to GSAI. for It is anticipated that the profits in the new JV will be disbursed as follows: 25% (Gross trading profit) to PREMI and or its assigns 75% to GSAI and or its assigns The $1,000,000 LC issued by PREMI as collateral and never need to be drawn down as long as the monthly fees are paid from profits generated from the use of the Instrument on deposit with PREMI. PREMI alone has access to the instrument and the bank account where it is lodged. 4. Should PREMI not receive at revenue within ninety (90) days from the acceptance of the instrument by GSAI’s financial institution and every Month thereafter, PREMI has the right, at its sole discretion, to terminate the agreement..