New Profits definition

New Profits means the excess (if any) of (A) the net asset value of the Trading Advisor’s Allocated Assets as of the last day of any calendar quarter (before deduction of incentive fees paid or accrued for such quarter), over (B) the net asset value of the Trading Advisor’s Allocated Assets as of the last day of the most recent quarter for which a performance fee was paid or payable (after deduction of such performance fee). In computing New Profits, the difference between (A) and (B) above shall be (i) increased by the amount of any distributions or redemptions paid or accrued by the Trading Advisor’s Allocated Assets as of or subsequent to the date in (B) through the date in (A), (ii) adjusted (either decreased or increased, as the case may be) to reflect the amount of any additional allocations or negative reallocations of the Trading Advisor’s Allocated Assets from the date in (B) to the last day of the quarter as of which the current performance fee calculation is made, and (iii) increased by the amount of any losses attributable to redemptions. If any performance fee is paid to the Trading Advisor, the Trading Advisor will retain the amount paid regardless of any subsequent decline in account value, but will not be eligible to receive subsequent performance fee payments until the Trading Advisor has recouped its losses and earned New Profits.
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Examples of New Profits in a sentence

  • JWH agrees not to withdraw any funds from the Company -- other than in respect of credits made to JWH's capital account in respect of bookkeeping entries to the New Profits Account as described in Section 8 hereof -- prior to the dissolution of the Company.

  • All direct costs incurred by PAR in connection with repackaging and labeling of such Reddy Finished Product shall be treated as a Manufacturing Cost for purposes of calculating New Profits from the sale of such Reddy Finished Product.

  • Alternatively, JWH may elect to have the New Profits Account participate in the profits and losses of the Company as if such New Profits Account were a capital account in the Company (with the parties agreeing in writing that appropriate adjustments to the capital and tax allocations provided herein shall be made in the event that JWH elects such alternative).

  • The General Partner shall be entitled to receive a quarterly incentive allocation in the amount of 20% (twenty percent) of New Profits, as defined herein.

  • For purposes of ------------------------------------ determining the allocations and distributions described in this Section 8, the Company shall calculate Trading Profit (Loss) and maintain a New Profits Account in the following manner.

  • The New Profits Account is not a capital account of the Company or of any member, and credits to such Account shall in no respect reduce any member's capital account.

  • Additional credits to the ------------------------------------- New Profits Account shall accrue from time to time at prevailing rates for 91- day Treasury bills to the extent credits have been made to the New Profits Account but there have been no allocations of Gains with respect to such New Profits Account credits.

  • If any performance fee is paid to the Trading Advisor, the Trading Advisor will retain the amount paid regardless of any subsequent decline in account value, but will not be eligible to receive subsequent performance fee payments until the Trading Advisor has recouped its losses and earned New Profits.

  • The Master Fund shall pay the Sub-Manager a performance fee from the Sub-Account that is accrued monthly and payable quarterly in arrears equal to the percentage set forth in the attached Addendum of the Net New Profits (as defined below), if any, attributable to the Allocated Assets for each Performance Period (as defined herein) (the “Performance Fee”).

  • No incentive fee shall be paid to the Advisor until the end of the first full calendar quarter of the Advisor’s trading for the Partnership, which incentive fee shall be based on New Profits (if any) from the commencement of trading by the Advisor on behalf of the Partnership through the end of the first full calendar quarter of such trading.