Cumulative Profits definition

Cumulative Profits means the aggregate profit after tax and all exceptional and/or extraordinary items of the Subsidiary (but before dividends) for the two financial years ending 31st December 1996 and 31st December 1997; and
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Cumulative Profits means, with respect to a particular period, Owner’s net cash flow during such period available from all sources, including, without limitation, operating income and dispositions after payment in full of all loans, indebtedness and liabilities (including any fee due hereunder) and any and all capital contributions to Owner. The term “Internal Rate of Return” shall mean an internal rate of return of the applicable percentage per annum on the sum of the capital contributions of the members of Owner and the advances of principal under member loans made by any of the members in Owner (the “Members’ Cash Investments”) commencing on the date of payment of the Members’ Cash Investments and compounded annually to the extent not paid on a current basis, taking into account the timing and amounts of all previous payments by Owner to any of their members, whether as distributions of liquidation proceeds, payments of principal and interest with respect to member loans, or otherwise. For purposes of computing such internal rate of return, any capital contribution or advance of principal made by any member, any distribution of funds received by any member and any payment of interest or principal received under member loans at any time during a month shall be deemed to be made or received on the first day of such month.
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Cumulative Profits at any given date (a “Measuring Date”) shall mean the excess of (i) Cuban Air Charter’s cumulative payments to Gulfstream under subparagraph (a) of this Section for all periods through and including such Measuring Date plus the Interim Profits, over (ii) Gulfstream’s cumulative Cuba Operating Expenses for all periods from the Effective Date (as defined below) through and including such Measuring Date. It is anticipated that Cuban Air Charter will not commence the Cuban Operation until on or about September 1, 2003 (the “Effective Date”). For purposes of this Agreement, “Interim Profits” shall mean the excess of the revenues generated by Gulfstream from the Cuban Activities during the period between beginning on the date of this Agreement and through the Effective Date, over the Cuba Operating Expenses for such period.
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Examples of Cumulative Profits in a sentence

  • In the event that subsequent to any Incentive Fee payment the members of Owner are required to return to Owner all or part of any prior distribution(s) of Cumulative Profits, the amount of the Incentive Fee shall be recalculated on the basis of Cumulative Profits after the return of such prior distribution(s), and the amount of the Incentive Fee paid to Manager that exceeds such recalculated Incentive Fee shall be returned to Owner by Manager (the “Reimbursement Payment”).

  • This Agreement shall commence on September 1, 2003, and shall continue until such time as Cumulative Profits (as defined below) reach $1,500,000 (or $1,000,000 in the event of the applicability of the Incentive Reduction, as defined in that Third Restructuring Agreement dated as of August 8, 2003 by and among Gulfstream International Airlines, Inc., Raytheon Aircraft Credit Corporation (“RACC”), and T▇▇▇▇▇ ▇.


More Definitions of Cumulative Profits

Cumulative Profits means the amount, if any, by which the cumulative items of taxable income and gain over the term of the Company exceed the cumulative items of taxable loss and deduction over the term of the Company, in each case, determined as of the date on which Cumulative Profits are determined.
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