Gross Receipts from Operations definition

Gross Receipts from Operations means total revenue actually received or receivable from operation of the Cannabis Business Project, including: all sales; the total amount of compensation actually received or receivable for the performance of any act or service, of whatever nature it may be, for which a charge is made or credit allowed whether or not such act or service is done as part of or in connection with the sale of materials, goods, wares, or merchandise; and gains realized from trading in stocks or bonds, interest discounts, rents, royalties, fees, commissions, dividends, or other remunerations, however designated. Included in "gross receipts" shall be all receipts, cash, credits, and property of any kind or nature, without any deduction therefrom on account of the cost of the property sold, the cost of materials used, labor or service costs, interest paid or payable, or losses or other expenses whatsoever, except that the following shall be excluded therefrom:
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Gross Receipts from Operations means total revenue actually received or receivable from operation of the Project, including: all sales; the total amount of compensation actually received or receivable for the performance of any act or service, of whatever nature it may be, for which a charge is made or credit allowed whether or not such act or service is done as part of or in connection with the sale of materials, goods, wares, or merchandise; and gains realized from trading in stocks or bonds, interest discounts, rents, royalties, fees, commissions, dividends, or other remunerations, however designated. Included in "gross receipts" shall be all receipts, cash, credits, and property of any kind or nature, without any deduction therefrom on account of the cost of the property sold, the cost of materials used, labor or service costs, interest paid or payable, or losses or other expenses whatsoever, except that the following shall be excluded therefrom: 1. Cash discounts allowed and taken on sales; 2. Credit allowed on property accepted as part of the purchase price and which property may later be sold, at which time the sales price shall be included as "gross receipts"; 3. Any tax required by law to be included in or added to the purchase price and collected from the consumer or purchaser; 4. Such part of the sale price of property returned by purchasers upon rescission of a contract of sale as is refunded either in cash or by credit; 5. Receipts of refundable deposits, except that such deposits when forfeited and taken into income of the business shall not be excluded. The intent of this definition is to ensure that in calculating the payment required under Section 4.2, all sales of cannabis products through the Project are captured. This definition shall therefore be given the broadest possible interpretation consistent with this intent.
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Gross Receipts from Operations means total revenue actually received or receivable from operation of the Project, including: all sales; the total amount of compensation actually received or receivable for the performance of any act or service, of whatever nature it may be, for which a charge is made or credit allowed whether or not such act or service is done as part of or in connection with the sale of materials, goods, wares, or merchandise; and gains realized from trading in stocks or bonds, interest
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Examples of Gross Receipts from Operations in a sentence

  • City shall have the right to audit and examine such books, records and documents and other relevant items in the possession of Owner (or Operator), on no less than an annual basis, or at any time upon reasonable request by the City, to the extent necessary for a proper determination of Gross Receipts from Operations, and all such books, records, documents and other items shall be held available for such audit and examination.

  • In other words, the vehicle registrations were not included in the utility plant in service numbers CUII has provided.

  • City shall have the right to audit and examine such books, records and documents and other relevant items in the possession of Owner, on no less than an annual basis, or at any time upon reasonable request by the City, to the extent necessary for a proper determination of Gross Receipts from Operations, and all such books, records, documents and other items shall be held available for such audit and examination.

  • If at any time during the term such books and records prove inadequate in the reasonable judgment of City to record the Gross Receipts from Operations as herein required, Owner shall, upon the written request of the City, procure and maintain such books and records as shall be of a character and from adequate for such purpose.

  • City shall have the right to audit and examine such books, records and documents and other relevant items in the possession of Developer, but only to the extent necessary for a proper determination of Gross Receipts from Operations, and all such books, records, documents and other items shall be held available for such audit and examination.

  • First (1st) Business Day, of Every Month Following commencement of Commercial Cannabis Activity in which Developer earns between $500,000.00 and $999,999.99 in Gross Receipts from Operations of the Project for the previous calendar month.

  • First (1st) Business Day, of Every Month Following commencement of Commercial Cannabis Activity in which Developer earns $1,500,000 and $1,999,999.99 in Gross Receipts from Operations of the Project for the previous calendar month.

  • During each calendar year, each Borrower shall spend not less than three percent (3%) of the Gross Receipts from Operations from its respective Collateral Property on FF&E Expenditures for such Collateral Property.

  • First (1st) Business Day, of Every Month Following commencement of Commercial Cannabis Activity in which Developer earns $2,000,000 or more in Gross Receipts from Operations of the Project for the previous calendar month.

  • For the third year and each year thereafter during the Term, the Developer will pay three percent (3%) of Developer’s Gross Receipts from Operations for each quarter’s operation.

Related to Gross Receipts from Operations

  • Gross Revenue means all of the earnings and revenues received by the RECIPIENT from the maintenance and operation of the Utility and all earnings from the investment of money on deposit in the Loan Fund, except (i) Utility Local Improvement Districts (ULID) Assessments, (ii) government grants, (iii) RECIPIENT taxes, (iv) principal proceeds of bonds and other obligations, or (v) earnings or proceeds (A) from any investments in a trust, Defeasance, or escrow fund created to Defease or refund Utility obligations or (B) in an obligation redemption fund or account other than the Loan Fund until commingled with other earnings and revenues of the Utility or (C) held in a special account for the purpose of paying a rebate to the United States Government under the Internal Revenue Code.

  • Gross receipts means the total revenue derived from sales, work done, or service rendered.

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.

  • Operating Revenues means, for any, period, the gross revenues arising from the ownership and operation of the Properties during such period, including proceeds of any business interruption or rental loss insurance and amounts released from reserves, but specifically excluding Capital Proceeds, Capital Contributions and proceeds of Indebtedness.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.