Profits Not Required Sample Clauses
The 'Profits Not Required' clause establishes that a party's obligation or entitlement under the agreement does not depend on whether that party actually earns a profit. In practice, this means that payments, royalties, or other financial commitments must be fulfilled regardless of the profitability of the underlying activity or business. For example, a licensee may still owe minimum royalties even if their use of the licensed technology does not generate profit. This clause ensures that financial obligations are clear and enforceable, preventing parties from using lack of profit as a reason to avoid payment or performance.
Profits Not Required. Each Employer shall, notwithstanding any other provision of the Plan, make all contributions to the Plan without regard to current or accumulated earnings and profits. Notwithstanding the foregoing, the Plan shall be designated to qualify as a profit-sharing plan for purposes of sections 401(a), 402, 404, 412 and 417 of the Code.
Profits Not Required. Unless the Adoption Agreement provides otherwise, effective for Plan Years beginning after December 31, 1985, the Employer shall, notwithstanding any