Target Gross Profit definition

Target Gross Profit means Twelve Million Six Hundred Thousand Dollars ($12,600,000); provided, however, that if Purchaser causes the Company Entities to discontinue sales of any of the Company Products or reduce the marketing efforts with respect to any of the Company Products below the marketing efforts requirements set forth in 2.5(b)(iv) following the Closing and prior to December 31, 2018, then Target Gross Profit shall be proportionally reduced by the amount included in such Target Gross Profit amount that was attributable to the Company Products that was discontinued or for which marketing efforts were so reduced. For the avoidance of doubt, poor performance of a Company Product that is not due to a reduction in the marketing efforts for such Company Product below the marketing efforts requirements set forth in 2.5(b)(iv) and that results in a reallocation of resources to other Company Products, such reallocation to be determined in the reasonable discretion of Purchaser, shall not result in any reduction of Target Gross Profit.

Target Gross Profit for any fiscal year means the amount identified as Gross Profit on Sales (or similar term) in the Business Plan for such fiscal year.

Target Gross Profit means, with respect to each Calendar Year, a dollar amount equal to the Gross Profit that would be realized by Distributor from aggregate Net Sales of the Product to Customers during such Calendar Year if Distributor’s Gross Profit Margin thereon was [***] percent ([***]%).

Examples of Target Gross Profit in a sentence

• Subject to the thresholds and maximums set forth below, eight percent (80%) of the potential award will be based upon achievement of Target Gross Profit, and twenty percent (20%) of the potential award will be based upon business unit and/or operating company TRIR.

• Subject to the thresholds and maximums set forth below, twenty-five percent (25%) of the potential award will be based upon achievement of Target Adjusted EBITDA, fifty-five percent (55%) will be based upon Target Gross Profit, and twenty percent (20%) of the potential award will be based upon business unit and/or operating company TRIR.

• Without limiting the effect of the immediately preceding sentence or of any of Buyer’s rights hereunder, the Company will, if the Closing occurs, exercise reasonable commercial efforts to realize the Target Gross Profit.

• The Executive shall not be entitled to amounts in excess of 150% of the Target Gross Profit Bonus in the aggregate for the 2007 calendar year.

• If the Gross Profit Statement by Product Line reflects that the Gross Profit for the fiscal year ended December 31, 2018 was equal to or in excess of the Target Gross Profit, then, within ten (10) days following the delivery of the Gross Profit Statement by Product Line, Purchaser shall pay, by wire transfer of immediately available funds to the account(s) designated in writing by the Sellers, the Gross Profit Earnout Amount, allocated between the Sellers in proportion to their Percentage Interests.

More Definitions of Target Gross Profit

Target Gross Profit means (i) $7.637 million for the period beginning on the Closing Date and ending on the day before the first anniversary of the Closing Date; (ii) $7.828 million for the period beginning on the first anniversary of the Closing Date and ending on the day before the second anniversary of the Closing Date and (iii) $23.489 million for the period beginning on the Closing Date and ending on the day before the third anniversary of the Closing Date.

Target Gross Profit means Twelve Million Six Hundred Thousand Dollars ($12,600,000); provided, however, that if Purchaser causes the Company Entities to discontinue sales of any of the Company Products or reduce the marketing efforts with respectto any of the Company Products below the marketing efforts requirements set forth in 2.5(b)(iv) following the Closing and prior to December 31, 2018, then Target Gross Profit shall be proportionally reduced by the amount included in such Target Gross Profit amount that was attributable to the Company Products that was discontinued or for which marketing efforts were so reduced. For the avoidance of doubt, poor performance of a Company Product that is not due to a reduction in the marketing efforts for such Company Product below the marketing efforts requirements set forth in 2.5(b)(iv) and that results in a reallocation of resources to other Company Products, such reallocation to be determined in the reasonable discretion of Purchaser, shall not result in any reduction of Target Gross Profit.

Target Gross Profit means $121,865,000.

Target Gross Profit means Twelve Million Six Hundred Thousand Dollars ($12,600,000); provided, however, that if Purchaser causes the Company Entities to discontinue sales of any of the Company Products or reduce the marketing efforts with respect to any of the Company Products below the marketing efforts requirements set forth in 2.5(b)(iv) following the Closing and prior to December 31, 2018, then Target Gross Profit shall be proportionally reduced by the amount included in such Target Gross Profit amount that was attributable to the Company Products that was discontinued or for which marketing efforts were so reduced. For

Target Gross Profit has the meaning referred to in Section 2.2(b).

Target Gross Profit means (i) $7.637 million for the period beginning on the Closing Date and ending on the day before the first anniversary of the Closing Date; (ii) $7.828 million for the period beginning on the first anniversary of the Closing Date and ending on the day

Target Gross Profit of a specific fiscal year shall mean the earnings generated from existing software and system integration business in China excluding any hardware sales revenue and any other revenue brought in by TWM; the earnings shall be before taxes indicated in the balance sheet, income statement and cash flow statement of Hurray! Times and/or any notes thereto of such fiscal year prepared (“Financial Statement”) by Hurray! Times. The formula should be: Target Gross Profit = US GAAP gross profit + reclassified operating expenses. The Financial Statements shall be prepared by an auditor engaged by Hurray! Times (“Auditor”) in accordance with the PRC GAAP and be converted by Hurray! Times on a consistent basis in accordance with the US GAAP. The converted version of Financial Statement shall be provided for Hurray Cayman to review. If there is any discrepancy, Hurray Cayman shall raise a written objection to TWM in ten (10) days as of the date of Hurray! Cayman’s receipt of such converted version of Financial Statement, and both parties shall negotiate it in an amicable way.