Adjusted Net Profits definition

Adjusted Net Profits means Net Profits as determined by Generally Accepted Accounting Principles (“GAAP”) plus any positive difference between GAAP depreciation on all assets and any mortgage lender required stabilized Capital Improvement Reserves (a per housing unit monthly reserve for replacement of capital improvements) on stabilized assets.

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Adjusted Net Profits shall equal Net Profits for such Calendar Quarter, net of amounts reimbursed under clause (ii) of this Section and net of any credits for the Lost Percocet(R) Profits Factor, as described in Section 8.2(d).

Adjusted Net Profits shall be the net profits before federal and state income taxes, determined on a consolidated basis and otherwise in accordance with generally accepted accounting principles by the independent accounting firm employed by Employer as auditors (the "Auditors") and adjusted to exclude: (i) any incentive salary payments paid pursuant to this Agreement; (ii) any contributions to pension and/or profit-sharing plans; (iii) any extraordinary gains or losses (including, but not limited to, gains or losses on disposition of assets); (iv) any refund or deficiency of federal and state income taxes paid in or assessed for a prior year for which a Profits Bonus has been paid after taking into account such over or under payment; and (v) any provision for federal or state income taxes made in prior years for which a Profits Bonus has been paid which is subsequently determined as unnecessary. The determination of the Adjusted Net Profits made by the Auditors shall be final and binding upon Employee and Employer. The Profits Bonus shall be paid within sixty (60) days after the end of each fiscal year. The maximum Profits Bonus payable for any one fiscal year under this Paragraph 5.b. shall not exceed two hundred percent (200%) of Employee's Base Salary during such fiscal year unless authorized by the Board. The Profits Bonus may be paid in shares of common stock, $0.10 par value, of Employer ("Employer Shares") by mutual agreement of Employer and Employee.

Examples of Adjusted Net Profits in a sentence

• An amount equal to fifty percent (50%) of the Adjusted Net Profits shall be paid to the Managers of the Company (all non Investor Members receiving portions of such Adjusted Net Profits shall also be paid out of this 50% pool of Manager’s Net Profits).

• Fifty percent (50%) of each tranche of the D/D Vested EVUs that are outstanding on the date of termination shall be recapitalized (as described below) promptly following Executive’s death or disability (the “D/D Measurement EVUs”), but subject to the General Partner’s determination that there will be sufficient Adjusted Net Profits (or gross items of income and realized gain) for the applicable period, which may occur after the end of the calendar year in which the death or disability occurs.

• All distributions of Adjusted Net Profits (after payment of LLC indebtedness) shall be paid to the holders of Membership Units in this order of priority: First to the Series 1-A until their Preferred Return is current on a cumulative basis, second to Series 1-B until their Preferred Return is current on a cumulative basis, then to Series 1-C until their Preferred Return is current on a cumulative basis.

• Profit-Split · Sucampo would pay to CPP 50% of the Adjusted Net Profits generated by Sucampo from the sale of the Product.

• In addition to the Base Salary, the Company shall pay to Executive as incentive compensation ("Incentive Compensation") an amount equal to 1.5% of the average Adjusted Net Profits, as hereinafter defined, of the Company and Pegasus, beginning with the year ending December 31, 2002 and each fiscal year thereafter during the term of this Agreement.

• Adjusted Net Profits, if any, due persons making such loans shall be payable solely from the Manager's percentage of Adjusted Net Profits and, accordingly, shall not reduce the Adjusted Net Profits payable to Investors.

• By way of example, if the Company is capitalized at $7,500,000, and if the amount of your Contribution is the sum of $150,000, then you (and, if applicable, your investors, in the aggregate) would be entitled to receive 1% of 100% ($150,000 divided by $7,500,000, and then multiplied by 50%) of the Adjusted Net Profits of the Company as your Co-Producer Investor Share.

• Each month, to the extent of Adjusted Net Profits, the Manager will distribute the Preferred Returns in the order of priority set forth in Section 3.1(c).

• Adjusted Net Profits shall be calculated on a monthly basis, and the Management Fee due to the Manager shall be paid to the Manager within two (2) days after the calculation of Adjusted Net Profits, but in no event later than fifteen (15) days after the end of the month.

• There shall be no other distribution of Net Profits prior to their characterization as Adjusted Net Profits as described below.

More Definitions of Adjusted Net Profits

Adjusted Net Profits and, with correlative meaning, “Adjusted Net Losses”, shall mean, [***].

Adjusted Net Profits means the net profits of the Company and the Company's subsidiaries Safescript Pharmacy, Inc. and Safe Med Systems, Inc., respectively, before federal and state income and franchise taxes, determined in accordance with generally accepted accounting practices by the Company's and Safescript's independent accounting firm and adjusted to exclude:

Adjusted Net Profits means the excess of Gross Receipts over all Production Expenses, Running Expenses, Other Expenses and any compensation paid to third parties that is measured by Net Profits. PRO

Adjusted Net Profits means the net profits of the Company and the Company's subsidiaries Pegasus Pharmacy, Inc. and MedEx Systems, Inc., respectively, before federal and state income and franchise taxes, determined in accordance with generally accepted accounting practices by the Company's and Pegasus's independent accounting firm and adjusted to exclude: