Sharing of Profits and Losses. Net profits and losses of the partnership shall inure to, and be borne by, the partners in proportion to the value of each of their capital accounts.
Sharing of Profits and Losses. Net profits and losses of the partnership shall inure to, and be borne by partners in proportion to the value of each of their capital accounts Books of Accounts: Books of account of the transactions of the partnership shall be kept and at all times be available and open to inspection and examination by any partner. Annual Accounting: Each calendar year, a full and complete account of the condition of the partnership shall be made to the partners.
Sharing of Profits and Losses. Net profits and losses of PI shall inure to and be borne by the partners, in proportion to the value of each of their capital accounts. Income and expenses will be allocated to each partner on the date they occur, based on the number of units of ownership each partner has on that date.
Sharing of Profits and Losses. As provided in the Agreement, the Parties share equally (50%/50%) the Profit or Loss for each quarterly period.
Sharing of Profits and Losses. After the consent of the company by the registration authority and the registration of shareholder change, Party B shall become the shareholder of Guangxi Yousen Network Technology Co., Ltd., and share the profits and losses of the company according to the proportion of capital contribution and the articles of association.
Sharing of Profits and Losses. The profits and losses of CarbonMeta Green Building Materials, LLC shall be allocated among the members on the basis of each member’s relative capital accounts.
Sharing of Profits and Losses. 5.1 Both Parties agree to share the profit and losses incurred by the joint-venture according to their actual shareholding in the joint-venture.
Sharing of Profits and Losses. 7.1 The Partnership shall make accounting of and distribute the profits of the Partnership each fiscal year. The distributable income of the Partnership shall be distributed to the partners as soon as possible and no later than sixty (60) working days after the end of the fiscal year in which such receivables occurs.
7.2 The Partnership adopts the principle of “return before distribution” in respect of reward on performance of the General Partner. After all the partners have recovered all of their paid contributions in proportion to their paid contributions, and all the partners' net investment income accumulatively gained from the Partnership has reached the annual simple interest rate of 6%, if there is any excess income, it can be distributed according to the accrual criteria for performance reward (performance compensation). The General Partner has the right to accrue performance compensation according to a certain percentage from the excess income. The calculation of performance compensation adopts step-by-step grading:
(1) The portion of the excess income that is less than one time of the total contribution paid by all partners (inclusive), 20% is accrued as performance compensation of the General Partner;
(2) The portion of the excess income that is more than one time of but less than two times of the total contribution paid by all partners (inclusive), 25% is accrued as performance compensation of the General Partner;
(3) The portion of the excess income that is more than two times of the total contribution paid by all partners, 30% is accrued as performance compensation of the General Partner; The remaining portion of the excess income after the performance remuneration is accrued for the General Partner is distributed among limited partners according to the proportion of their actual paid contribution. The “net investment income” above refers to the distributable profits received by the Partnership after all partners of the Partnership achieve the return.
7.3 The General Partner has no right to accrue the performance reward until all partners have recovered all of their paid contributions in proportion to their paid contributions and their accumulated net investment income reaches the annual simple interest rate of 6%.
7.4 Prior to the expiration of the Duration of the Partnership, to the extent permitted by applicable law, the distribution will be made in cash in principle; if the Partnership fails to make cash distributions at the time of liqui...
Sharing of Profits and Losses. For U.S. tax purposes and for financial accounting purposes, any income, gain, deductions (including depreciation), losses and credits (including any tax payments) of the Company (or items thereof) shall be allocated to the Shareholders on the basis of their respective Distributable Percentages; provided, however, at such time as either Shareholder has been allocated aggregate depreciation deductions equal to its Capital Contributions, all subsequent depreciation deductions shall be allocated to the other Shareholder until it has also been allocated aggregate depreciation deductions equal to its Capital Contributions.
Sharing of Profits and Losses. If the partnership deed is silent on sharing of profit or losses among the partners of a firm, then according to the Partnership Act of 1932, profits and losses are to be shared equally by all the partners of the firm.
