Three Funds definition

Three Funds mean the Reserve Fund, Employee Welfare and Bonus Fund and Enterprise Expansion Fund of the JV Company.

Three Funds means, collectively, the Company’s reserve fund, bonus and welfare fund and enterprise expansion fund.

Three Funds has the meaning ascribed thereto in Section 13.1.

Examples of Three Funds in a sentence

• After fully making up accumulated losses of previous years, if any, and payment of taxes in accordance with the relevant laws and regulations of the PRC, the Company shall allocate a percentage of its annual after-tax profit for contribution towards the Three Funds.

• The amount to be allocated to the Three Funds shall be decided by the Board of Directors on a yearly basis in accordance with the financial performance of the Company, in light of the relevant laws and regulations of the PRC.

• No payments shall be made to the Three Funds in years where the Company does not realize a profit.

• Payments to the Three Funds shall be made from the after-tax profits.

• Profit of the JV (calculated after (a) repayment of any loans to third parties (other than the JV Parties); (b) payment of any and all taxes due and owing by the JV; (c) satisfaction of losses for any previous years; and (d) allocations to the Three Funds in accordance with Article 49) (the “JV Profit”) shall be distributed to Party B and Party A annually in accordance with the Distribution Ratios then in effect, unless the Board of Directors unanimously determines that no such distribution should be made.

More Definitions of Three Funds

Three Funds means the reserve fund, enterprise development fund and employee bonus and welfare fund. [**] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.

Three Funds means the Reserve Fund, the enterprise development fund and the employee bonus and welfare fund required to be established by all Sino-foreign joint ventures pursuant to the Joint Venture Law.

Three Funds means the reserve fund, enterprise development fund and employee bonus and welfare fund.

Three Funds. Means the Reserve Fund, the Enterprise Expansion Fund and the Staff and Workers Incentive and Welfare Fund of the Joint Venture as specifiedin Section 21.1;

Three Funds means the Joint Venture Company's reserve fund, expansion fund and employee bonus and welfare fund as stipulated in the Joint Venture Regulations.

Three Funds means the Joint Venture Company’s reserve fund, expansion fund and employee bonus and welfare fund as required to be established under the applicable laws and regulations of China.

Three Funds shall have the meaning ascribed to it in Article 16.5(a).