Profit Share Account definition

Profit Share Account means an estimate profit and loss account of the Company or, following the Post-Closing Hive Down, Lucid Markets LLP in respect of the period (i) from Completion until the last date of the month during which Completion took place (with respect to the first Profit Share Account) or (ii) from the first date of each calendar month until the last day of such calendar month (with respect to any other Profit Share Account) or until the Buy-Out Reference Date (if such date is not the last date of a calendar month), which account shall not include any profits or losses in connection with (i) Ordinary Member Forfeited Assets and (ii) any distribution of Ordinary Members Forfeited Assets to an Ordinary Member in satisfaction of the Company’s obligations under the Ordinary Members Contingency Payment Agreement (as such term is defined in the Share Purchase Agreement), and a statement, derived from such profit and loss account, of each of the Lucid P/L BD and the New Business P/L BD in respect of that period;
Sample 1Sample 2Sample 3
Profit Share Account has the meaning given to it in paragraph 1 of Schedule 3;
Sample 1Sample 2Sample 3
Profit Share Account means an estimated profit and loss account of the LLP prepared in accordance with Part 1 of Schedule 2
Sample 1Sample 2

Examples of Profit Share Account in a sentence

  • Having accumulated profits over the course of your PPS membership, your PPS Profit Share Account vests at retirement.

  • The LLP shall, following the end of each calendar month, prepare a Profit Share Account in respect of the period (i) from the date of this Deed until the last date of the month during which this Deed came into force (with respect to the first Profit Share Account) or (ii) from the first date of each calendar month until the last day of such calendar month (with respect to any other Profit Share Account).

  • Each Profit Share Account shall be prepared in accordance with the provisions of this Part 1 of Schedule 2 and shall be delivered to all Members and the Board of Directors as soon as practicable following (and in any event within 60 Business Days of) the end of the relevant calendar month.

  • GEFA will include the data from the two quarters immediately preceding the end of the quarterly Profit Share Account, but the Parties acknowledge that the performance reflected by such data will not be mature because the development of reported claims takes two quarters and the detailed analysis will not yet be available.

  • If within 20 Business Days following the delivery of a Profit Share Account to the Board of Directors, no member of the Board of Directors has given written notice to the LLP or the remainder of the Board of Directors of his objection to the Profit Share Account (which notice shall state in reasonable details the basis of the objection) then a Profit Share Account shall be binding and conclusive on the LLP and the Members.

  • An amount equal to the Net Reinsurance Premium shall be credited to the Profit Share Account as of April 17, 1998.

  • An amount equal to the Reinsurance Premium shall be credited to the Profit Share Account as of November 15, 1999.

  • The Board of Directors shall instruct any independent firm of chartered accountants appointed under paragraph 3 to determine only the particular aspect of the preparation of a Profit Share Account in dispute and, accordingly, such accountants shall not determine or adjust any other matter or have regard to any fact not directly relating to the matter in dispute.

  • The Reinsurers will continue to calculate the Profit Share Account and will credit the average monthly balance of the Profit Share Account with the lesser of the equivalent of the 2.5% annual interest rate or the 2 year annual t-xxxx rate plus 25 basis points.

  • A Participant's Basic Account, Pre-IPO Matching Contributions Account, Post-IPO Matching Contributions Account, Old Profit Share Account, New Profit Share Account, Company Matching Account, Company Account or Rollover Account or the aggregate thereof as the context may indicate.

Related to Profit Share Account

  • Share Account A form of Deposit Account that each member is required to maintain to remain a member of BECU. We, us, our: BECU. You, your: Each person or entity, individually, and collectively, who opens, establishes, accesses, is named as an Account Holder or Authorized Signer or who applies for any Account.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.