Profit and Loss Account Sample Clauses

Profit and Loss Account. In order to permit calculation of the Supplemental Royalty, PMC hereby agree to maintain a profit and loss account, which shall include PMC's and Aphton's Product Costs and Expenses (the "P/L Account") for the purpose of determining Net Profits. The Steering Committee will develop an operating plan (the "Operating Plan") to be implemented by the parties prior to Commercial Launch which will set forth the mechanism for allocation of costs and expenses to the P/L Account and the reimbursement of costs to each party. The Steering Committee will be responsible for approving the P/L Account based on the approved Internal Accounts of each party and the invoices of Net Sales submitted by PMC. Except for the Product Costs and Expenses entered into the P/L Account, all other costs and expenses, including, without limitations, any indirect costs and expenses, incurred by either party in connection with the promotion, marketing, distribution and selling of the Product shall be borne solely by such party..
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Profit and Loss Account. 7.1 MAINTENANCE STOCKS ------------------ . Expenditure on plant and machine spares is written off as incurred.
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Profit and Loss Account. Ø There is a dedicated line for all provisions on contracts movements. They are included on the line PD900N “Total Costs of sales” and separately identified on the quarterly schedule 9A40/A174 which shows 3 lines: XP004: cost of the period XL004: Addition to contract related provision XL109: Release of contract related provisions PX9002 = XP004 + XL004 + XL109 PD9002 = PD900N Ø Provisions for environmental costs have to be disclosed on the half-yearly schedule 9A41/A173. This schedule includes four lines: XP003 Charges for the period XL003 Addition to provisions XL106 Application of provisions XL107 Release of provisions
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Profit and Loss Account 
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Related to Profit and Loss Account

  • Profit and Loss Subject to Section 5.1(d) hereof, Profit and Loss occurring on any day during the Fiscal Year shall be allocated to the Holders' Book Capital Accounts at the end of such day in proportion to the Holders' respective Book Capital Account balances at the commencement of such day.

  • Allocation of Profit and Loss Article V, Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

  • Allocations of Profit and Loss Whenever a proportionate part of the Company’s Profit and Loss is allocated to the Member, every item of income, gain, loss, deduction and credit entering into the computation of such Profit or Loss applicable to the period during which such Profit or Loss was realized shall be allocated to the Member.

  • Management Accounts The Management Accounts:

  • Financial Accounts Exhibit E, as may be updated by the Borrower in a written notice provided to Agent after the Closing Date, is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance Reserve Account Deposits Made Reserve Account Draw Amount Ending Reserve Account Balance Change in Reserve Account Balance Specified Reserve Balance

  • Reconciliation of Accounts Any reconciliation of Accounts performed by any party hereto, or any Subservicer or Subcontractor shall be prepared no later than 45 calendar days after the bank statement cutoff date. * * * * * *

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Individual Accounts The Advisory Committee will maintain, or direct the Trustee to maintain, a separate Account, or multiple Accounts, in the name of each Participant to reflect the Participant's Accrued Benefit under the Plan. If a Participant re-enters the Plan subsequent to his having a Forfeiture Break in Service, the Advisory Committee, or the Trustee, must maintain a separate Account for the Participant's pre-Forfeiture Break in Service Accrued Benefit and a separate Account for his post-Forfeiture Break in Service Accrued Benefit, unless the Participant's entire Accrued Benefit under the Plan is 100% Nonforfeitable. The Advisory Committee will make its allocations, or request the Trustee to make its allocations, to the Accounts of the Participants in accordance with the provisions of Section 9.11. The Advisory Committee may direct the Trustee to maintain a temporary segregated investment Account in the name of a Participant to prevent a distortion of income, gain or loss allocations under Section 9.11. The Advisory Committee must maintain records of its activities.

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