Common use of Allocation of Net Profit Clause in Contracts

Allocation of Net Profit. a. The annual Net Profit from the operation of the Amphitheatre will be divided between MEMI and the City such that the City shall receive the first One Hundred Thousand Dollars ($100,000) from the operation of the Amphitheatre and the remaining Net Profit shall be divided between MEMI and the City such that the City receives an amount equal to sixty percent (60%) of the Net Profit and MEMI receives an amount equal to forty percent (40%) of the Net Profit. “Net Profit” shall be defined as all Revenue less all Expenses directly related to or arising from the operation of the Amphitheatre.

Allocation of Net Profit. a. The annual Net Profit from the operation of the Amphitheatre will be divided between MEMI and the City such that the City shall receive the first One Hundred Fifty Thousand Dollars ($100,000150,000) from the operation of the Amphitheatre and the remaining Net Profit shall be divided between MEMI and the City such that the City receives an amount equal to sixty percent (60%) of the Net Profit and MEMI receives an amount equal to forty percent (40%) of the Net Profit. “Net Profit” shall be defined as all Revenue less all Expenses directly related to or arising from the operation of the Amphitheatre.