Target Profit definition

Target Profit or "TP" means, in relation to: (a) any PBF Assessment Period beginning on 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the Annual REFERENCE (CLAUSE/PARAGRAPH/SCHEDULE) AMENDMENT Business Plan, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any Capital Expenditure, forecast Non- Recoverable Costs or forecast Disallowable Costs) included in the Annual Business Plan, expressed as a negative number; and (b) any PBF Assessment Period beginning on any date other than 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the Quarterly Financial Information, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any Capital Expenditure, forecast Non- REFERENCE AMENDMENT (CLAUSE/PARAGRAPH/SCHEDULE) Recoverable Costs or forecast Disallowable Costs) included in the Quarterly Financial Information, expressed as a negative number;

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Target Profit or "TP" means, in relation to: (a) any PBF Assessment Period beginning on 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the Annual Business Plan, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any Capital Expenditure, forecast Non- Recoverable Costs or forecast Disallowable Costs) included in the Annual Business Plan, expressed as a negative number; and

Target Profit or “TP” means in relation to:

Examples of Target Profit in a sentence

• If the 2017 Actual Profit is less than 80% of 2017 Target Profit, the Purchaser may exercise its redemption right in accordance with the Restated Articles.

• If during the currency of this Agreement any financial period of the Company shall have a duration other than 365 days (or 366 days in the case of a leap year) the Target Profit shall be adjusted in the same proportion as the number of complete days of the financial period bears to 365.

• Subject to the following provisions the Executive's entitlement to a bonus under clause 5.1.4 for each complete financial period of the company during the currency of this Agreement commencing 1st July 2000 is 5 per cent of the amount by which the PBT (as defined below) exceeds (pound)310,000 ("Target Profit") of the Company and the Subsidiary.

• The number of 2006 Performance Shares shall be calculated by (A) subtracting the 2006 Net Profit from the 2006 Target Profit to obtain the 2006 Performance Shortfall, (B) dividing the 2006 Performance Shortfall by the 2006 Target Profit to obtain the Shortfall Percentage and (C) multiplying the Shortfall Percentage by the number of shares of Common Stock (issuable upon conversion of the Series B) originally issued to the Investors under this Agreement.

• The Target Profit Goal shall be computed before deducting any amounts expensed for taxes, payments under the Company's annual profit-sharing incentive bonus program and charitable contributions.

• The Company hereby represents to the Investors that the Company's after Tax Net Profit on a consolidated, pro forma basis, as reported under GAAP and as prepared by an accounting firm acceptable to the Investors ("2006 Net Profit") for the fiscal year ending 2006 shall be no less than $10,700,000 (the "2006 Target Profit").

• In the event the 2006 Net Profit is not equal to or greater than 90% of the 2006 Target Profit, the Company agrees to issue a number of additional shares of Common Stock to the Investors (the "2006 Performance Shares") pro rata in accordance their original investment holdings as set forth on Exhibit C.

• The Company hereby represents to the Investors that the Company's after Tax Net Profit on a consolidated, pro forma basis, prior to costs directly attributed to this Agreement and the transactions contemplated hereby, as reported under GAAP and as prepared by an independent registered public accounting firm acceptable to the Investors for the fiscal year ending 2005 ("2005 Net Profit") shall be at least $6,750,000 (the "2005 Target Profit").

• The Parties shall agree, through the Finance Sub-Committee, on an appropriate mechanism to achieve the Target Profit Split based on the principles set forth in Section 9.2(a) above.

• Based on the unaudited consolidated financial statements of the Target Company for the three financial years ended 31 December 2021, the Accumulated Net Profit of the Target Company is expected to be approximately RMB27,486,000 (equivalent to approximately HK$32,983,000), representing a shortfall of approximately RMB189,181,000 (equivalent to approximately HK$227,017,000) as compared to the Target Profit Level.

More Definitions of Target Profit

Target Profit means that amount of Year 1 Agency Profit, Year Agency Profit which would eliminate any Year 1 Purchase Adjustment, Year 2 Purchase Adjustment, Year 3 Purchase Adjustment, Year 4 Purchase Adjustment and Year 5 Purchase Adjustment, respectively, which for each such Year is as follows: Year 1 $ 875,000 Year 2 $1,000,000 Year 3 $1,150,000 Year 4 $1,325,000 Year 5 $1,525,000

Target Profit or "TP" means, in relation to: (a) any PBF Assessment Period beginning on 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the ICWC Section of the Annual Business Plan, expressed as a positive number; and Withdrawn March 2024 REFERENCE (CLAUSE/PARAGRAPH/SCHEDULE) AMENDMENT (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any ▇▇▇▇ Capital Expenditure, forecast Non-Recoverable Costs or forecast Disallowable Costs) included in the ICWC Section of the Annual Business Plan, expressed as a negative number; and (b) any PBF Assessment Period beginning on any date other than 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the ICWC Section of the Quarterly Financial Information, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any ▇▇▇▇ Capital Expenditure, forecast Non-Recoverable Costs or forecast Disallowable Costs) Withdrawn March 2024 REFERENCE AMENDMENT (CLAUSE/PARAGRAPH/SCHEDULE) included in the ICWC Section of the Quarterly Financial Information, expressed as a negative number;

Target Profit has the meaning ascribed to it in Clause 6.1;

Target Profit is defined in Section 3.1(e).

Target Profit or "TP" means, in relation to: (a) any PBF Assessment Period beginning on 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in the profit and loss accounts included in the Annual Business Plan, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any Capital Expenditure, forecast Non- Recoverable Costs or forecast Disallowable Costs) included in the Annual Business Plan, expressed as a negative number; and (b) any PBF Assessment Period beginning on any date other than 1 April of any year, the aggregate of: (i) all forecast items of Revenue falling within the relevant PBF Assessment Period set out in (CLAUSE/PARAGRAPH/SCHEDULE) the profit and loss accounts included in the Quarterly Financial Information, expressed as a positive number; and (ii) all forecast items of Cost falling within the relevant PBF Assessment Period (excluding any Capital Expenditure, forecast Non- Recoverable Costs or forecast Disallowable Costs) included in the Quarterly Financial Information, expressed as a negative number;

Target Profit means RMB 50,000,000 for the fiscal year ending on December 31 of ▇▇▇▇, ▇▇▇ 100,000,000 for the fiscal year ending on December 31 of 2005 (provided that any amount of after tax profit for the year of 2004 exceeding RMB 50,000,000 shall be deducted from such Target Profit for year 2005) and RMB 150,000,000 for the fiscal year ending on December 31 of 2006 (provided that any amount of after tax profit for the year of 2004 and 2005 exceeding RMB 150,000,000 shall be deducted from such Target Profit for year 2006); Actual Profit of a year means profit after tax (audited) as determined pursuant to this Agreement. For the purpose of this Clause, the Auditor shall be appointed within 5 days after December 31 of each year of 2004, 2005 and 2006. Such Auditor shall do the auditing of the Company for the fiscal year of 2004, 2005 and 2006 to determine the profit after tax of the Company.