Common use of Profit Sharing Arrangements Clause in Contracts

Profit Sharing Arrangements. Enter into any partnership, profit-sharing or royalty agreement or other similar arrangement whereby the Borrower's income or profits are, or might be, shared with any other Person, except with other Guarantor Subsidiaries wholly-owned by the Guarantor, provided that towage agreement whereby remuneration is based on a percentage of freight earned shall not be deemed profit-sharing;

Profit Sharing Arrangements. Enter into any partnership, profit-sharing or royalty agreement or other similar arrangement whereby the Borrower's Borrowers' income or profits are, or might be, shared with any other Person, except with other Guarantor Subsidiaries wholly-owned by the Guarantor, provided that towage agreement agreements whereby remuneration is based on a percentage of freight earned shall not be deemed profit-sharing;

Profit Sharing Arrangements. Enter into any partnership, profit-sharing or royalty agreement or other similar arrangement whereby the such Borrower's income or profits are, or might be, shared with any other Person, except with other Guarantor Subsidiaries wholly-owned by the Guarantor, provided that towage agreement whereby remuneration is based on a percentage of freight earned shall not be deemed profit-sharing;