Distributable Net Income definition

Distributable Net Income means the same as that term is defined in Section 643, Internal Revenue Code.

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Distributable Net Income means, for each Fiscal Quarter, an amount equal to the net income of the Company and its Subsidiaries, on a consolidated basis, determined in accordance with GAAP, less any amounts retained by the Company as shall be necessary to meet the Minimum Capital Requirements (which requirements shall be approved by the Board pursuant to Section 6.3).

Distributable Net Income for any period shall mean the excess, if any, of (i) the net income for such period over (ii) the aggregate net losses for all prior periods to the extent not offset against net income for prior periods in computing "Distributable Net Income" for such prior periods.

Examples of Distributable Net Income in a sentence

Within thirty (30) days following the completion of each Fiscal Quarter, the Managing Member shall cause the Company to distribute to all Members an amount equal to the Distributable Net Income for such Fiscal Quarter pro rata based upon their respective Common Interest Percentages.
An amount equal to 50% of the Distributable Net Income (as hereinafter defined) shall be distributed to each party from time to time, as determined by the Management Committee.
If the Buyer and the Company are unable to resolve any dispute regarding such Distributable Net Income Calculation within fifteen (15) days (or such longer period as the Buyer and the Company shall mutually agree in writing) of notice of a dispute, the dispute shall be resolved by a neutral arbitrator.
If the Company does notify the Buyer of any dispute within such fifteen (15) day period, the Buyer and the Company shall cooperate in good faith to resolve such dispute as promptly as possible, and upon such resolution, the Distributable Net Income shall be determined in accordance with the mutual written agreement of the Buyer and the Company.
Within ten (10) business days after the final determination of Distributable Net Income pursuant to this Section 1.5, the Buyer shall pay to the Company, by wire transfer or delivery of immediately available funds, the amount of the Initial Earn-Out (if any) or the Performance Based Earn-Out (if any) based on Distributable Net Income as finally determined.
The parties agree that the guidelines set forth in Schedule 1.5(c) shall be used in calculating Distributable Net Income.
In determining the "Distributable Net Income" for a Participant's account pursuant to section 643(a) of the Internal Revenue Code, such Participant's Distributable Net Income shall include gains on the sale of ESOT Shares (and any other capital assets) allocated to such Participant's Account.
All matters relating to the calculation of Distributable Net Income shall be calculated in a manner consistent with GAAP and pursuant to the methodology set forth in Schedule 1.5(c).
An amount equal to 50% of the Distributable Net Income (as hereinafter defined) shall be distributed to each party on a quarterly basis or from time to time, as determined by the Management Committee.
If the Company does not notify the Buyer of any dispute within such thirty (30) day period, the Distributable Net Income Calculation provided by the Buyer pursuant to Section 1.5(a)(i) above shall be deemed to be final and binding on the parties.

More Definitions of Distributable Net Income

Distributable Net Income means an amount equal to 2% (or such greater percentage as the Board may determine in its sole discretion for any particular Plan Year) of the Company’s consolidated pre-tax net income for a particular Plan Year, as determined by the Committee based upon the annual unaudited financial statements of the Company.

Distributable Net Income means: (i) eighty per cent (80%) of the sum of net income of the Corporation plus depreciation and amortization; less (ii) a reasonable allowance for future capital requirements of the Corporation including payments related to acquisitions;

Distributable Net Income means, with respect to any period, the Company's net income before depreciation, amortization and other non-cash charges for such period, in each case, calculated in accordance with GAAP, as in effect from time to time.

Distributable Net Income means the difference of (a) the sum of (i) net income actually realized, plus (ii) depreciation, plus (iii) non-cash stock compensation, minus (b) capital additions greater than $10,000, in each case of the Company or the Buyer, as applicable, as reported in its audited financial statements. Any review or dispute about the amount of the Distributable Net Income shall be determined in accordance with the procedures set forth in Section 1.5. For the avoidance of doubt, if the Initial Earn-Out is earned and the Buyer pays the Initial Earn-Out pursuant to Section 1.4(e), the Buyer shall have no further payment or other obligations under this Section. Notwithstanding anything to the contrary herein, the maximum amount payable to the Company under this Section 1.4(c) is One Million Dollars ($1,000,000).

Distributable Net Income means the excess of (i) the sum of cash receipts of all kinds of the Company over (ii) the sum of cash disbursements for the expenses of the Company, or amounts reserved against liabilities (contingent or otherwise) of the Company (which shall include principal payments on the Notes, together with any other payments required to be made thereunder or under any Note Purchase Document.