Common use of Distribution of Net Profits Clause in Contracts

Distribution of Net Profits. Owner's share of Net Profits realized during any calendar quarter shall be distributed to Owner within forty-five (45) days following the end of such calendar quarter. Such distributions of Net Profits shall be accompanied by a statement showing in reasonable detail the derivation of Net Profits. Statements for the first, second, and third quarters of each calendar year and the accompanying distributions to Owner shall be provisional pending final determination of Net Profits for the entire calendar year.