Net Annual Income definition

Net Annual Income means in relation to Precincts B, H and the Clive Peeters Lease only an amount represented by N in the following formula: N=A-(D+E) where: A = the gross rent for the Building (or Buildings, if more than one) shown in the Tenancy Return Schedule attributable to the Building(s) D= estimated land tax on the Land (on a single holding basis) agreed between the parties or, failing agreement based on an independent valuation on (sic) the anticipated Land Tax assessment at the next assessment of the unimproved capital value of the Land which takes account of the use of the Land as multiple showrooms and/or shops E = the outgoings for the Centre agreed between the parties or, failing agreement, resolved, as a dispute in accordance with clause 26 by an independent external property manager.” [8] Lancini and Ticor were unable to agree on the estimated land tax and outgoings for Precinct B and, therefore, could not arrive at a Net Annual Income. [9] The Development Agreement contained a dispute resolution clause (clause 26) which provided that if the parties had any dispute or difference as to the performance of the agreement or arising out of the agreement, then it must be referred by a party for determination by a person called the “Determinator”.1[10] Pursuant to cl 26 of the Development agreement, Mr Buckley was appointed to resolve the dispute between Lancini and Ticor. I will deal with the terms of his appointment later in these reasons. [11] By a letter of 29 June 2006, Mr Buckley provided his determination of the outgoings for Precinct B. He estimated the total as $215,288. [12] Lancini pleads that Mr Buckley was negligent or that he breached the warranties with respect to four matters:

Net Annual Income means the gross income of a trust estate

Net Annual Income. , in relation to a 1[waqf], means net annual income determined in accordance with the provisions of the Explanations to sub-section (1) of section 72;

Examples of Net Annual Income in a sentence

• For purposes of this Agreement, the term "Net Annual Income" shall be and mean the amount of Net Income reported by the Company in its Form 10-K (the "Form 10-K") as filed under the Securities Act of 1934, as amended.

• In addition to, and not in lieu of, the base salary provided for in Section 4.1 above, Employee shall be entitled to receive from Employer a bonus (the "Bonus") not to exceed one hundred fifty thousand dollars ($150,000.00), equal to 5% of the Company's Net Annual Income before taxes.

• Net Annual Income means the net income with respect to a Trust under the provisions of the Tax Act (or any similar provision of any replacement Act) for a Financial Year.

• The Global Trust Manager must determine the Net Annual Income of each Trust for each Financial Year and in doing so, it may have regard to the determinations made by it under clause 21.2. The Residual Income Unitholders of a Trust shall be entitled to the whole of the Net Annual Income of that Trust for each Financial Year in accordance with the relevant Supplemental Deed.

More Definitions of Net Annual Income

Net Annual Income means the gross income of a trust estate during a fiscal year minus trust commissions and expenses attributable to income for that fiscal year.

Net Annual Income shall be and mean the amount of Net Income reported by the Company in its Form 10-K (the "Form 10-K") as filed under the Securities Act of 1934, as amended. Payment of the Bonus, if any, shall be made to the Employee within ten (10) days after the Company files its Form 10-K.

Net Annual Income in respect of a New Trust shall mean:

Net Annual Income means all of the income earned from the Trust Property in each fiscal year less the aggregate of:

Net Annual Income means in relation to:

Net Annual Income means net monthly income multiplied by 12.

Net Annual Income means the Gross Annual Income during a particular Fiscal Year less the aggregate of: