Net Income After Taxes definition
Net Income After Taxes means, with respect to any fiscal year, net income after provisions for taxes for such fiscal year; and
Net Income After Taxes shall have the meanings normally given them by, and shall be calculated, both as to amounts and classifications of items, in accordance with, generally accepted accounting principles, which principles shall be applied on a basis consistent with that applied to the income and expense statements, the balance sheets, and the statements of income and retained earnings furnished to Lender pursuant to Section 4.1.
Net Income After Taxes means as to any Person and for any period, such Person's net income 2 after taxes as that term is understood in accordance with GAAP, provided that the calculation of Net Income After Taxes for purposes of Sections 17.02 and 17.05 hereof shall exclude an extraordinary charge to income of approximately $3,800,000 net of taxes of approximately $1,900,000 resulting from the refinancing of indebtedness with the proceeds of a private placement by the Guarantor of $120,000,000 principal amount of its 10 1/4% Senior Notes due 2004 completed on March 24, 1994.
Examples of Net Income After Taxes in a sentence
After full Provision of Regular Corporate Income Taxes, YTD Net Income After Taxes in the current year of P570.837 million is slightly higher by 1% compared to the reported NIAT of P565.040 million in the comparable period last year.
Return on Non-Cash Assets, or “RXXXX,” shall be determined by dividing Net Income After Taxes by Non-Cash Assets.
This computation requires the multiplication of the Consolidated Group's Adjusted Net Income After Taxes by a fraction with a numerator composed of the total original capitalized cost of the Vessels (prorated if any such Vessel has been operated for a period of less than a full year) and a denominator composed of the total original capitalized cost of all the Consolidated Group's fixed assets.
Total of Net Income (After Taxes and Before Donations) (Line 38) and Donations (Line 39).
The aggregate purchase price for all of the Purchased Interest (the “Purchase Price”) shall be equal to: (a) the aggregate amount of one million ($1 million); plus (b) fifty percent (50%) of Net Income After Taxes, if any, calculated as of each Installment Measurement Date; minus (c) the amount of Transaction Expenses assumed or otherwise discharged by Company or Buyer, if any, and required to be paid by Seller pursuant to this Agreement; plus or minus (d) the amount of the Working Capital Adjustment.
More Definitions of Net Income After Taxes
Net Income After Taxes means with respect to an Installment Period, the net income of the Company for such period, calculated in accordance with GAAP, after income tax expense, plus income tax credits/receivables, provided that any amounts paid in cash as salary, guaranteed payments, or fees to Xxxxx Xxx or his Family Members or any of their respective Affiliates during the applicable Installment Period shall not be considered an expense for purposes of calculating net income of the Company for such Installment Period, provided that any such payments made to Affiliates of Xx. Xxx on arms-length fair market terms shall be considered an expense for purposes of calculating net income hereunder.
Net Income After Taxes means, with respect to any fiscal period of the Maker, the Maker's consolidated net income after provision for income taxes for such fiscal period, as determined in accordance with generally accepted accounting principles, consistently applied. The Applicable Rate prior to maturity upon the unpaid principal balances of this Note shall be determined quarterly as of each Adjustment Date, based upon the Net Profit After Taxes of the Maker for the calendar quarter of its fiscal year ending most recently prior to such Adjustment Date. In the event that the financial report for the immediately preceding calendar quarter of the Maker has not been received by the Bank on or before an Adjustment Date, then and in such event the rate of interest prior to maturity for the fiscal quarter commencing as of such Adjustment Date shall be the Contract Rate. Any payments of principal or interest not made when due shall bear interest after maturity (whether by reason of default, acceleration or otherwise) at the Applicable Rate for a period of sixty (60) days following such maturity, and, if payment is not made within such sixty (60) day period, upon the expiration of such sixty (60) day period, at the Default Rate. However, in the event the Maker is obligated to pay the Default Rate under this paragraph, such obligation to pay the Default Rate shall terminate when the Maker cures the default and the interest rate thereafter shall revert back to the Applicable Rate. In the event that the foregoing provisions should be construed by a court of competent jurisdiction not to constitute a valid, enforceable designation of a rate of interest or method of determining same, the indebtedness hereby evidenced shall bear interest at the Maximum Rate. This Note is secured by one or more Security Agreements ("Security Agreements") dated July 26, 1994, as amended, covering Maker's Accounts Receivable, and other collateral, as is more particularly described in said Security Agreement(s), and may now or hereafter be secured by other mortgages, trust deeds, assignments, security agreements, or other instruments of pledge or
Net Income After Taxes set forth in Article 1 of the Loan Agreement is hereby amended to read in its entirety as follows:
Net Income After Taxes is defined in Section 6.3(a)(i) hereof.
Net Income After Taxes shall equal the average of the net income after taxes for each twelve-month period, which shall begin each and end on the following , in the Performance Cycle. “Non-Cash Assets” shall mean the average of the Total Assets minus Cash, Goodwill, Intangibles and Related Amortization, for each twelve-month period, as described above, during the Performance Cycle. All amounts necessary to calculate RXXXX shall be determined in accordance with Generally Accepted Accounting Principles and, to the extent possible, based on disclosures in Tandy Brands’ Financial Statements, and shall be adjusted to exclude, as applicable, the following possible actions or effects: (i) the cumulative effect of a change in accounting principle(s) during the relevant periods; (ii) the cumulative effect of a change in tax law(s) during the relevant periods; (iii) extraordinary items; and (iv) realized capital gains or losses.
Net Income After Taxes means, for the period of determination, net income after provisions for taxes for such period, determined in accordance with generally accepted accounting principles consistently applied.
Net Income After Taxes means Net Income, provided that Net Income After Taxes shall be determined for all fiscal periods ending on or before April 30, 2010, as reported in Borrower’s audited financial statements for such periods (i.e., since for such periods Borrower was a “disregarded entity” for tax purposes, as if Borrower was a C-Corporation under the IRC), and for all fiscal periods ending after April 30, 2010, to the extent that Borrower is treated as a pass through entity for tax purposes, by calculating Net Income before taxes as of the end of such fiscal period minus dividends and other distributions paid during the same period for which Net Income has been calculated to each of Holdings and any other member of the Borrower in connection with its federal income tax liability (and, if applicable, state income tax liability) attributable to its share of Borrower’s taxable income (determined in accordance with the IRC) (including estimated tax payments determined in good faith by Borrower which are required to be made by its members with respect thereto).