Net Income From Operations for any period, the Consolidated net income from operations of the Corporation, determined in accordance with GAAP.
Net Income From Operations means the net income from operations of the Company before deductions for taxes, as calculated utilizing generally accepted accounting principles by the Company’s independent certified public accountants for the Company’s annual reporting periods. Notwithstanding the foregoing, for purposes of determining Net Income From Operations: (i) there shall be included any and all charges for preferred stock dividends; but, (ii) there shall not be included any gains, profits, losses, or adjustments related to the sale or write-off of any goodwill associated with the Company’s wholly-owned subsidiary, Educators’ Learning Network, Inc.
Net Income From Operations means Total Revenue, less costs and expenses directly attributable to the operation of the Assets (or in the event that all or substantially all of the assets and business of the Company shall have been transferred to another entity or entities, the allocable portion of the Net Income From Operations of such other entity or entities) accrued on the books of the Purchaser for the applicable period as determined in accordance with GAAP consistent with the Purchaser's accounting practices; including, but not limited to, costs of occupancy (e.g., rent, telephone, HVAC, insurance, property taxes, etc.), wages and benefits paid or accrued for employees or independent contractors, supplies, equipment, a reasonable allowance for depreciation and amortization, and other such expenses and accruals for the operation of the Assets; but not including the Purchase's income taxes or fees, expenses paid to the Purchaser's officers and directors, nor any amounts paid pursuant to the terms of the Note attached hereto as Exhibit C. The Purchaser and the Company agree that in determining expenses, the Assets shall be charged with a portion of Fifty percent (50%) of the compensation (including the cost of all benefits) paid to Susan Isernhagen and Dennxx Xxxxxxxxxn conxxxxxxx xxxx xxxxxx xxpense allocation used by the Purchaser. Furthermore, the Purchaser and the Company agree that the Assets shall not be charged with any corporate overhead expenses unless mutually agreed upon. The Earn-Out Payments if and when paid are included in goodwill and are likewise not included in the calculation of Net Income from Operations. Notwithstanding the determination of Total Revenue and Net Income From Operations for any applicable period by the Purchaser, the Company shall have the right to receive the information upon which such determination was made, and shall, in the event of a dispute as to the amount or method of calculation of such Total Revenue and Net Income From Operations have the right to review all work papers relating to the determination of Total Revenue and Net Income From Operations.
Examples of Net Income From Operations in a sentence
The amounts so computed shall be the Total Revenue and Net Income From Operations for purposes of determining the amount, if any, of Earn-Out Payments due and payable.
The Purchaser shall, within ninety (90) days after the end of the twelve (12) month periods ending February 28 ,1998, February 28, 1999, February 29, 2000, February 28, 2001, and February 28, 2002, respectively, compute the amount of the Total Revenue and Net Income From Operations of the Assets, for such periods.
For example, if for the annual periods ending December 31, 2003, 2004 and 2005 the Company recognizes $2,000,000, $3,650,000 and $5,100,000, respectively, of Net Income From Operations (as defined below), no incentive Option Shares (those described in Sections 3.3(b)(c) and (d) above) will vest until December 31, 2005 at which time 500,000 of such incentive Option Shares will vest.
If the Sellers fail to notify the Purchaser of any dispute within such 30-day period, the Preliminary Income Statement or the calculation of Preliminary Net Income From Operations, as the case may be, shall be the Final Income Statement and the Final Net Income From Operations, and shall be final and binding on the parties.
The Independent Accounting Firm shall be instructed to use every reasonable effort to perform its services within fifteen (15) days of submission of the Preliminary Income Statement and the calculation of the Preliminary Net Income From Operations to it and, in any case, as promptly as practicable after such submission.
More Definitions of Net Income From Operations
Net Income From Operations means net income (loss) before provision for any foreign, federal, state and local taxes on or measured by net income, but after deduction of all other items of expense, including but not limited to other state or local taxes, and determined in accordance with generally accepted accounting principles, consistently applied, used to generate the Income Statement previously given to Purchaser and attached as Exhibit "A" to this Agreement (the "Income Statement").
Net Income From Operations means Gross Operating Revenue less all expenses with the exception of depreciation charges, interest rate swaps (income and/or expense), gain or loss on the disposition of Association Property and the current year’s portion of operating leases, required and necessary to operate and maintain the Association Real Property and the Association Personal Property, and to provide the services of the Association for which it is responsible.
Net Income From Operations and "NET LOSSES" shall mean the net income and net losses, respectively, of the Company as determined for federal income tax purposes; provided however, that the "book" value of an asset shall be substituted for its adjusted tax basis if the two differ, and provided that the following items shall be excluded from the computation of Net Income and Net Losses:
Net Income From Operations or "NET LOSS FROM OPERATIONS" means, for each Fiscal Year of the Company, 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), except Depreciation, shall be included in taxable income or loss), but not including Depreciation, and with the following additional adjustments:
Net Income From Operations is defined to be the “Net Income” for each year included in the Performance Period, as reported in the consolidated financial statements of the Company prepared in conformity with GAAP, as applied to SEC registrants (or any other governing accounting standards as may from time to time in the future be applicable for SEC registrants), as determined by the Committee in accordance with this Performance Equity Award Agreement to eliminate on an after-tax basis, the impact of any of the following where such impact occurs during the Performance Period and is specifically set forth in such detail as to identify a change in a quantifiable manner in a required public filing with the SEC prior to the determination of the percentage of Performance Equity Awards earned for the Performance Period: · extraordinary items (as such term is used under GAAP); · items resulting from a change in tax law; · cumulative effect of changes in accounting principles (reported in accordance with GAAP) · any quantifiable Non-GAAP (or other applicable accounting standard) adjustment to Net Income. The Committee may also take into account other adjustments (for example, extraordinary adjustments or unforeseen adjustments) but only if the effect of such adjustment or adjustments would be to reduce the calculated potential Performance Equity Award payout amounts.
Net Income From Operations means Total Revenue, less costs and expenses directly attributable to the operation of the Company (or in the event that all or substantially all the assets and business of the Company shall have been transferred to another entity or entities, the allocable portion of the Net Income From Operations of such other entity or entities) accrued on the books of Purchaser for the applicable period as determined in accordance with GAAP consistent with Purchaser's accounting practices; including but not limited to, costs of occupancy (e.g. rent, telephone, HVAC, insurance, property taxes, etc.), wages and benefits paid or accrued for employees or independent contractors, supplies, equipment, a reasonable allowance for depreciation and amortization, and other such expenses and accruals for the operation of the Company; but not including the Purchaser's income taxes or fees, expenses paid to the Purchaser's officers and directors, nor any amounts paid pursuant to the terms of the Convertible Subordinated Promissory Notes referenced in Section I.B.2. The Earn-Out Payments if and when paid are included in goodwill and are likewise not included in the calculation of Net Income From Operations.Notwithstanding the determination of Total Revenue and Net Income From Operations for any applicable period by the Purchaser, the Shareholders shall have the right to receive the information upon which such determination was made, and shall, in the event of a dispute as to the amount or method of calculation of such Total Revenue and Net Income From Operations have the right to review all work papers relating to the determination of Total Revenue and Net Income From Operations.
Net Income From Operations for any Plan Year means Employee Pre-Tax Profits Before Profit Sharing as defined in the Company's Corporate Constitution.