Net Gains definition

Net Gains. For purpose of computing Net Losses and Net Gains, the Book Value of an asset shall be substituted for its adjusted tax basis, if the two differ (in accordance with the principles of section 1.704-1(b)(2)(iv) of the Regulations). For each Fiscal Year, an amount equal to the Company’s taxable income or loss for such year, determined in accordance with Code section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication): (i) any income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Net Gains or Net Losses pursuant to this definition shall be added to such taxable income or loss; (ii) any expenditures of the Company described in Code section 705(a)(2)(B) or treated as Code section 705(a)(2)(B) pursuant to Regulations section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Net Gains and Net Losses shall be subtracted from such taxable income; (iii) in the event the Gross Asset Value of any items of Company Property is adjusted pursuant to subparagraphs (ii) or (iii) of the definition of Gross Asset Value, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the Gross Asset Value of the item of Property) or an item of loss (if the adjustment decreases the Gross Asset Value of the item of Property) from the disposition of such item of Property and shall be taken into account for purposes of computing Net Gains or Net Losses; (iv) gain or loss resulting from any disposition of Property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Gross Asset Value of the Property disposed of, notwithstanding that the adjusted tax basis of such Property differs from its Gross Asset Value; (v) in lieu of the Depreciation, Amortization, and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Fiscal Year, computed in accordance with the definition of Depreciation; (vi) to the extent an adjustment to the adjusted tax basis of any item of Company Property pursuant to Code section 734(b) or Regulations section 1.704-1(b)(2)(iv)(m)(4) is required to be taken into account in determining Capital Accounts as a result of a D...
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Net Gains has the meaning assigned to such term in Section 9.05(b) of this Agreement.
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Net Gains required by this Section 2.1(e) immediately prior to the Effective Time, although it shall deduct and withhold from the amounts otherwise payable pursuant to this Section 2.1(e) such amounts as it is required to deduct and withhold with respect to the making of such payments under the Internal Revenue Code of 1986 (the "Code") or any other applicable state, local or federal tax law or tax laws of foreign jurisdictions. To the extent that amounts are so withheld by the Company, the withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of the Company Option in respect of which such withholding was made by the Company. The Surviving Corporation will promptly comply with all tax laws requiring it to forward such withheld taxes and/or pay its own taxes to the responsible Governmental Entity, as well as reporting the amount of income resulting from the payments made pursuant to this Section 2.1(e).
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Examples of Net Gains in a sentence

  • The net loss (including capital losses and excluding Net Gains from Capital Transactions) of the Partnership for each year as determined by the Partnership for federal income tax purposes.

  • In allocating Profits and Losses, Net Gains and Losses from Capital Transactions (a part of Profits and Losses), if any, shall be allocated first.

  • Net Gains and Net Losses resulting from transactions in connection with Liquidation shall be Allocated to each Member’s and Manager’s Capital Account as set forth in Article IV hereof.

  • Provided, however, the amount Administrator is obligated to pay Customer for a given calendar year shall be reduced by the amount of Net Gains, as defined below, from prior calendar years during the Term of this Agreement to the extent such Net Gains were not credited against Net Losses from prior periods.

  • Property Owners have offered, and County has accepted, the Net Gains and Dedications described in this Section.

  • Immediately prior to the Effective Time, ACQUIROR shall provide or cause to be provided to OPTA the funds necessary to pay the aggregate amount of Net Gains attributable to all OPTA Options that OPTA becomes obligated to pay pursuant to this Section 2.5(e).

  • Immediately prior to the Effective Time, Parent shall provide or cause to be provided to the Company in a timely manner the funds necessary to pay the aggregate amount of "Net Gains" attributable to all Company Options that the Company becomes obligated to pay pursuant to this Section 2.1(e).

  • The Company shall make all payments of "Net Gains" required by this Section 2.1(e) immediately prior to the Effective Time, although it shall deduct and withhold from the amounts otherwise payable pursuant to this Section 2.1(e) such amounts as it is required to deduct and withhold with respect to the making of such payments under the Internal Revenue Code of 1986 (the "Code") or any other applicable state, local or federal tax law or tax laws of foreign jurisdictions.

  • Net Gains and Net Losses not allocated under this Section 7.3(I) shall be allocated as Net Profits and Net Losses under Sections 7.1 and 7.2 of this Agreement.

  • Parent and Merger Sub will have cash funds sufficient as and when needed to pay (a) all cash payments for Company Common Shares tendered in connection with the Offer and the Merger, (b) the aggregate amount of Net Gains attributable to all Company Options that the Company becomes obligated to pay pursuant to Section 2.1(e) of this Agreement, and (c) all related fees and expenses.


More Definitions of Net Gains

Net Gains means, with respect to the sale of any Aircraft, an amount (not less than zero) of the Net Cash Proceeds in excess of the Target Sales Price in connection with such sale.
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Net Gains means, with respect to the sale of any Aircraft, the amount (not less than zero) of the Net Cash Proceeds in excess of the Target Sales Price in connection with such sale, provided that no Sales Incentive Fee shall be payable with respect to a sale in connection with a refinancing, restructuring, reorganization or tax based financing if, after such sale, the Servicer; (i) remains as Servicer of such Aircraft; (ii) continues to receive a Retainer Fee and a Rental Fee from such Aircraft; and (iii) remains eligible to earn a Sales Fee and a Sales Incentive Fee from such Aircraft in the future. "NET CASH PROCEEDS" means the gross cash proceeds of any sale of Aircraft net of any break funding gains or losses directly associated with the sale of such Aircraft and transaction costs (including transaction taxes and Servicer's out-of-pocket expenses) and brokerage commissions.
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Net Gains. “Net Losses” and “Company Loss Recovery Account” are defined in Appendix A to this Agreement.
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Related to Net Gains

  • Unrealized Gain attributable to any item of Partnership property means, as of any date of determination, the excess, if any, of (a) the fair market value of such property as of such date (as determined under Section 5.5(d)) over (b) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section 5.5(d) as of such date).

  • Liquidating Gains means any net gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership (including upon the occurrence of any Liquidating Event or Terminating Capital Transaction), including but not limited to net gain realized in connection with an adjustment to the Gross Asset Value of Partnership assets under the definition of Gross Asset Value in Section 1 of this Agreement.

  • Affected Gain has the meaning set forth in subparagraph 4(b) of Exhibit B.

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Net Income or Net Loss means, for each Fiscal Year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period, as determined for federal income tax purposes, determined by the Accountants in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), with the following adjustments: