Net Income Before Taxes means an aggregate excess of Revenues over Allowable Expenses.
Net Income Before Taxes means the consolidated net income before income taxes of the Consolidated Companies for the applicable period determined in accordance with GAAP.
Net Income Before Taxes means the taxable income of the Target for each relevant period, based upon the method of accounting utilized for financial statement purposes, and specifically means the revenues of the Target less the expenses of the Target for such period, excluding and without deducting: (i) any Tax paid or payable; (ii) the amount of any bonus payable to any officer, executive or manager of the Target; (iii) any consideration paid to the Sellers pursuant to this Agreement; and/or (iv) any amounts paid or payable to reduce or pay the Indebtedness of the Target. The Net Income Before Taxes shall be calculated after the date of Closing on an accrual basis and, except as otherwise provided herein, shall be calculated in the manner used immediately prior to the date of the Closing.
Examples of Net Income Before Taxes in a sentence
Also called “Pre-Tax Income.” For purposes of the Experience Rebate, the calculation of Net Income Before Taxes will exclude Medicare Part D, both in terms of premium revenues and associated costs.
The portion of the STAR+PLUS MMP’s Net Income Before Taxes, if any, which is returned to HHSC in accordance with requirements in this Contract.
In order for a loss to be eligible for potential carryforward as an offset against future income, the Dental Contractor must have a negative Net Income Before Taxes for an FSR Reporting Period on a Consolidated Basis.
Any reference of PTeR in any publication (including but not limited to academic publications, electronic documents, presentations and websites), the Licensee must include appropriate acknowledgment of the Licensor.
Under this Demonstration, at an appropriate time after the end of each state fiscal year, the STAR+PLUS MMP must pay to the State an Experience Rebate if the STAR+PLUS MMP’s Net Income Before Taxes is greater than the percentage set forth of the total Revenue for the period.
More Definitions of Net Income Before Taxes
Net Income Before Taxes of any Person shall mean, for any period, the net income (or loss) of such Person before taxes for such period taken as a single accounting period, determined in conformity with GAAP.
Net Income Before Taxes of Section 7.07, “Financial Covenants,” of the Credit Agreement is hereby amended to recite as follows:
Net Income Before Taxes for any Plan Year means the income, before taxes on income and before the Profit-Sharing Contribution under the Plan, reflecting the consolidated results of the operations for that year of Beam and its subsidiaries as used in consolidating such results with the operating results of American and its other consolidated subsidiaries, but adjusted to (A) exclude all gain in excess of loss resulting from sales or other dispositions of land, buildings, goodwill, brands, trademarks and investments in subsidiaries or other companies and (B) reflect certain consolidating adjustments made by American, including elimination of interest expense on long-term notes given to American in connection with the reorganization of the American group of companies.
Net Income Before Taxes of Section 7.07, “Financial Covenants,” of the Licensing Credit Agreement (the “Identified Default”) for failure to maintain the minimum Net Income Before Taxes set forth therein. The Borrowers have further requested that Huntington waive the Identified Default for the period through and including September 30, 2011, and subject to the terms and conditions set forth herein, the Administrative Agent, for itself and on behalf of the Lenders hereby waives the Identified Default for the period through and including September 30, 2011. Nothing in this limited waiver letter shall (i) cause a modification of the Licensing Credit Agreement or related documentation, except as precisely set forth above; (ii) establish any custom or in any manner waive or modify any future default or Event of Default; (iii) entitle any Borrower to any other or further notice or demand whatsoever; or (iv) in any way modify, change, impair, effect, diminish, or release any Borrower’s liability under or pursuant to the Licensing Credit Agreement. Please acknowledge your receipt of this letter and agreement to all terms hereof by signing in the space provided below and returning a copy to the undersigned. If you have any questions regarding this letter, please contact me. THE HUNTINGTON NATIONAL BANK, ADMINISTRATIVE AGENT By: /s/ Dxxxx X. Xxxxxxx Dxxxx X. Xxxxxxx, Senior Vice President cc: Mxxx X. Xxxxxxxx Txxxxxx X. Xxxxx, Esq. Kxxxx X. Xxxxxx, Esq. Kxxxx Xxxxxx March 28, 2011 Page 2 Accepted and agreed: FRANKLIN CREDIT MANAGEMENT CORPORATION By: /s/ Pxxx X. Xxxxxxxx Name: Pxxx X. Xxxxxxxx Title: Chief Financial Officer FRANKLIN CREDIT HOLDING CORPORATION By: /s/ Pxxx X. Xxxxxxxx Name: Pxxx X. Xxxxxxxx Title: Chief Financial Officer
Net Income Before Taxes means the Buyer's net income before federal, state and local income taxes, determined in accordance with the provisions of Section 3.1(c) of this Agreement and GAAP.
Net Income Before Taxes means the consolidated net income before income taxes of the Consolidated Companies for the applicable period determined in accordance with
Net Income Before Taxes means the consolidated net income before income taxes of the Consolidated Companies for the applicable period determined in accordance with GAAP. “Note” means the Master Revolving Credit Note executed by the Borrower to the Bank, of even date herewith, as such note may be modified, renewed or extended from time to time; and any other note or notes executed by any Borrower at any time to evidence the indebtedness under this Loan Agreement, in whole or in part, and any renewals, modifications and extensions thereof, in whole or in part. “Permitted Assignee” shall mean any successor in interest to Bank who has acquired all of the equity interests or all or substantially all of the assets of Bank. “Permitted Borrowing” shall mean loans obtained by Consolidated Companies from lenders other than the Bank from time to time not exceeding $8,000,000.00 in the aggregate at any time. “Permitted Encumbrances” shall mean and include: (a) liens for taxes, assessments or similar governmental charges not in default or which are being contested in good faith by appropriate proceedings; (b) workmen’s, vendors’, mechanics’ and materialmen’s liens and other liens imposed by law incurred in the ordinary course of business, and easements and encumbrances which are not substantial in character or amount and do not materially detract from the value or interfere with the intended use of the properties subject thereto and affected thereby; (c) pledges or deposits of money securing bids, tenders, contracts (other than contracts for the payment of money), leases to which any Borrower is a party as lessee made in the ordinary course of business or liens in respect of pledges or deposits under social security laws, worker’s compensation laws, unemployment insurance or similar legislation and in respect of pledges or deposits to secure bids, tenders, contracts (other than contracts for the payment of money), leases or statutory obligations; (d) any liens and security interests on equipment and machinery securing the financing of that equipment and machinery not exceeding a secured amount of more than the Permitted Borrowing; (e) any liens related to chassis financing provided by the dealers and/or manufacturers of the chassis; (f) zoning restrictions, easements, licenses, or other restrictions on the use of any real property or other minor irregularities in title (including leasehold title) thereto, so long as the same do not materially impair the use, value, or marketability of such re...