Distribution of Net Pretax Profits Sample Clauses

Distribution of Net Pretax Profits. Unless otherwise provided by the Diacrin/Genzyme LLC Operating Agreement, the Net Pretax Profits of Diacrin/Genzyme LLC shall be allocated one-half (1/2) to Diacrin and one-half (1/2) to Genzyme. Net Pretax Profit shall be calculated for each calendar quarter after the date of the first sale of a Collaboration Product following Regulatory Approval of such Collaboration Product and shall be reported to each of Diacrin and Genzyme within forty-five (45) days following the end of each such quarter. Distributions of Net Pretax Profit shall be made semi-annually to each of Diacrin and Genzyme; provided, however, that the amount of Net Pretax Profit distributable to Diacrin and Genzyme shall be reduced by the amount required to fund the budgeted capital, working capital and reserve requirements of Diacrin/Genzyme LLC during the ************************ days following the proposed distribution date and by such other amounts as the Steering Committee reasonably determines to be necessary or appropriate for the operation of Diacrin/Genzyme LLC. All distributions to the Parties will be accompanied by a report setting forth the basis for such distribution. Such reports shall be subject to audit rights as set forth in Section 4.4., mutatis mutandis.
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Related to Distribution of Net Pretax Profits

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

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  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.