Common use of Transfer of Profits Clause in Contracts

Transfer of Profits. (1) The Controlled Company shall undertake to transfer its profits to the Controlling Company in full. Subject to the accrual or release of provisions pursuant to Paragraph 2, the net profit for the year before profit and loss pooling - minus any net loss carried forward from the preceding year - shall be transferred. (2) The Controlled Company may transfer funds from its net profit for the year to other retained earnings with the Controlling Company's approval insofar as permissible under German commercial law and warranted by sound commercial reasoning. Uncommitted reserves (other retained earnings in accordance with Section 272, Paragraph 3 of the German Commercial Code) accrued during the term of this Agreement shall be released on the Controlling Company's request and to offset any net loss for the year or for transfer as profit. The transfer of funds from the release of other retained earnings pursuant to Section 272, Paragraph 3 of the German Commercial Code accrued prior to the beginning of the term of this Agreement shall be exempted. Section 301 of the German Stock Corporation Act shall apply analogously. (3) The profit transfer obligation shall enter into force for the first time for the full profit of the 2002 financial year (truncated financial year).

Transfer of Profits. (1) The Controlled Company RWE Plus Headquarters shall undertake to transfer its profits to the Controlling Company RWE Plus in full. Subject to the accrual or release of provisions pursuant to Paragraph 2, the net profit for the year before profit and loss pooling - minus any net loss carried forward from the preceding year - shall be transferred. (2) The Controlled Company RWE Plus Headquarters may transfer funds from its net profit for the year to other retained earnings with the Controlling Company's RWE Plus' approval insofar as permissible under German commercial law and warranted by sound commercial reasoning. Uncommitted reserves (other retained earnings in accordance with Section 272, Paragraph 3 of the German Commercial Code) accrued during the term of this Agreement shall be released on the Controlling Company's RWE Plus' request and to offset any net loss for the year or for transfer as profit. The transfer of funds from the release of other retained earnings pursuant to Section 272, Paragraph 3 of the German Commercial Code accrued prior to the beginning of the term of this Agreement shall be exempted. Section 301 of the German Stock Corporation Act shall apply analogously. (3) The profit transfer obligation shall enter into force for the first time for the full profit of the 2002 financial year (truncated financial year).

Transfer of Profits. (1) The Controlled Company GBV shall undertake to transfer its profits to the Controlling Company RWE in full. Subject to the accrual or release re- lease of provisions pursuant to Paragraph 2, the net profit for the year before profit and loss pooling - minus any net loss carried forward from the preceding year - shall be transferred. (2) The Controlled Company GBV may transfer funds from its the net profit for the year to other retained earnings with the Controlling CompanyRWE's approval insofar as permissible under German commercial law and warranted by sound commercial reasoning. Uncommitted reserves (other retained earnings in accordance accord- ance with Section 272, Paragraph 3 of the German Commercial Code) accrued during the term of this Agreement shall be released on the Controlling CompanyRWE's request and to offset any net loss for the year or for transfer as profit. The transfer of funds from the release of other retained earnings pursuant to Section 272, Paragraph 3 of the German Commercial Code accrued prior to the beginning of the term of this Agreement shall be exempted. Section 301 of the German Stock Corporation Act shall apply analogously. (3) The profit transfer obligation shall enter into force for the first time for the full profit of the 2002 financial year (truncated financial year).