RELEVANT PROFITS Sample Clauses

RELEVANT PROFITS. 1 The Relevant Profits will be determined by reference to the net profits of the Company as shown by the financial statements of the Company as at 30th June 1998 ("the 1998 Accounts") and those to be prepared and audited as at 30th June 1999 ("the Final Audited Accounts"). The Final Audited Accounts shall be prepared and audited by the Company's Auditors applying accounting policies and principles on a basis consistent with generally accepted accounting policies and practises applied on a basis consistent with those used in preparing the 1998 Accounts and in particular full provision will be made for all actual, and contingent liabilities of the Company. In order to arrive at the Relevant Profits there shall be deducted in each case the amount of Taxation payable by the Company as shown in the relevant accounts or as otherwise determined and the relevant net profits shall be subject to the following adjustments (if not already taken into account in the profit and loss accounts):
Sample 1Sample 2
AutoNDA by SimpleDocs
RELEVANT PROFITS. For the purposes of this schedule "Relevant Profits" shall mean the ------------------ net trading profit before Taxation on the ordinary activities of the Business of the Company from the Existing Properties (but not any other properties from which the Company may trade during the Earn Out Period) as shown in the Relevant Accounts (after making any adjustments considered by Reporting Accountants and the Reviewing Accountants to be necessary so that the Relevant Accounts comply with the provisions of this schedule), but to the extent if any not already taken into account;
Sample 1

Related to RELEVANT PROFITS

  • Net Profit The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.

  • Net Profits Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:

  • Net Income After giving effect to the special allocations set forth in Section 6.1(d), Net Income for each taxable year and all items of income, gain, loss and deduction taken into account in computing Net Income for such taxable year shall be allocated as follows:

  • STATEMENT OF EARNINGS AND PROFITS As promptly as practicable, but in any case within sixty days after the Closing Date, the Acquired Fund shall furnish the Acquiring Fund, in such form as is reasonably satisfactory to the Acquiring Fund, a statement of the earnings and profits of the Acquired Fund for federal income tax purposes that will be carried over by the Acquiring Fund as a result of Section 381 of the Code, and which will be certified by the Trust’s Treasurer.

  • Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.

  • Accounting for Profits Employee covenants and agrees that if he shall violate any of his covenants or agreements under Article 2 hereof, Company shall be entitled to an accounting and repayment of all profits, compensation, commissions, remunerations or benefits which Employee directly or indirectly has realized and/or may realize as a result of, growing out of or in connection with any such violation; such remedy shall be in addition to and not in limitation of any injunctive relief or other rights or remedies to which Company is or may be entitled at law or in equity or under this Agreement.

  • Profits Except as otherwise provided herein, profits for each year of the Partnership shall be allocated among the Partners pro rata in accordance with their respective Partnership Interests as specified on Exhibit B.

  • Financial Year Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31st December in each year and, following the year of incorporation, shall begin on 1st January in each year.

  • FOREIGN TAX CREDITS AVIF agrees to consult in advance with LIFE COMPANY concerning any decision to elect or not to elect pursuant to Section 853 of the Code to pass through the benefit of any foreign tax credits to its shareholders.

  • Revenues Revenues" means all amounts assigned hereunder by Dental -------- Group to Manager pursuant to Section 2.6(a).

Time is Money Join Law Insider Premium to draft better contracts faster.