Cumulative Net Income means, in respect of any Performance Period, the aggregate cumulative amount of the Adjusted Net Income for the calendar or other fiscal years of the Company during such Performance Period.
Cumulative Net Income means Community Trust Bancorp, Inc.’s cumulative net income for the three (3) years ending December 31, 2020, computed in accordance with generally accepted accounting principles, and giving effect to the accrual for payment of all incentive compensation.
Cumulative Net Income means the Company’s aggregate net income as reflected in its Form 10-Ks for the three years included in the Performance Period, adjusted to exclude: restructuring charges; and one-time, non-operating related events, including, but not limited to, goodwill or intangible impairments, losses on the sale of assets, asset impairments, related to lawsuits, or related to the bankruptcy of a client that owes the Company money for services performed.
Examples of Cumulative Net Income in a sentence
The determination of the independent public accountants for the Company as to the Cumulative Net Income, made in accordance with generally accepted accounting principles, consistently applied, shall be conclusive.
There shall be deducted from Cumulative Net Income for each period any amount paid as dividends on the Common Stock of the Company during such period.
For purposes of this Section, in no event shall Cumulative Net Income be less than $0.
In computing Cumulative Net Income, no deduction, net of tax benefit, shall be taken for benefits payable under this Agreement or similar Net Worth Appreciation Participation Agreements.
If there is no positive Cumulative Net Income, no deferred compensation shall be due you under this Agreement.
More Definitions of Cumulative Net Income
Cumulative Net Income means, as of any date of determination, the greater of (1) zero and (2) 50% multiplied by the cumulative Borrower Group Adjusted Net Income for the period (taken as one accounting period) from December 31, 2019 to the end of the Company’s most recently ended Fiscal Quarter for which internal financial statements are available as of such date of determination.
Cumulative Net Income of any person shall mean, as of any date (the "Determination Date"), the net income of such person (after deduction for income and other taxes of such person determined by reference to income or profits of such person) for the period (the "Relevant Period") after the specified date until the Determination Date (but without reduction for any net loss incurred for any fiscal year or shorter period during the Relevant Period), taken as one accounting period, all as determined in accordance with generally accepted accounting principles.
Cumulative Net Income means the excess of (i) the Net Income (other than Net Income of the Company allocated pursuant to Section 6.2.1(a)(i) and (ii)) previously allocated to the Members, over (ii) the Net Loss previously allocated to the Members.
Cumulative Net Income of any person shall mean, as of any date, the net income (after deduction for income and other taxes of such person determined by reference to income or profits of such person) for the period commencing on the specified date through the end of the most recently completed fiscal year of such person (but without reduction for any net loss incurred for any fiscal year during such period), taken as one accounting period, all as determined in accordance with generally accepted accounting principles.
Cumulative Net Income means, with respect to any Person, the sum of such Person's net income, determined in accordance with GAAP, on a Consolidated basis, for each completed fiscal quarter after the date from which such calculation is being made; provided that if such Person's net income is negative for any such fiscal quarter, in computing Cumulative Net Income, such Person's net income shall be deemed to be zero for that fiscal quarter.
Cumulative Net Income means, as of any date of determination, the greater of (1) zero and (2) 50% multiplied by the cumulative Borrower Group Adjusted Net Income for the period (taken as one accounting period) from October 1, 2021 to the end of the Company’s most recently ended Fiscal Quarter for which internal financial statements are available as of such date of determination.
Cumulative Net Income means the targeted entity’s net income as determined using the method of accounting regularly used by the targeted entity in preparing its financial statements, or if no financial statements are prepared, the net book income computed for federal income tax purposes, for every year an ownership interest in the entity is held by the trust. The trust’s pro rata share shall be the cumulative net income multiplied by the percentage ownership of the trust.