Net Profit Sample Clauses

Net Profit. Except as provided in Section 8.03, Net Profit of the Fund shall be allocated for Fund tax and accounting purposes, in the following order and priority: (a) first, to those Investors with deficit Capital Account balances in proportion to such deficits until such deficits have been eliminated; (b) second, to those Investors as necessary to offset Net Loss previously allocated to such Investors pursuant to Section 8.02(b) until each Investor has been allocated cumulative Net Profit pursuant to this Section 8.01(b) equal to the cumulative Net Loss previously allocated to such Investor pursuant to Section 8.02(b) not already offset pursuant to this Section 8.01(b) or Section 8.01(a); and (c) third, (i) 80% to the Investors to be allocated pursuant to Section 8.04; and (ii) 20% to the Investment Managers.

Net Profit. The Borrower shall not reflect a net profit of less than $900,000, and shall not experience a net loss as of any fiscal year end as reflected in the Borrower’s certified fiscal year end statements.

Net Profit. The Borrowers shall earn a minimum Consolidated Net Income, as determined in accordance with GAAP, of at least $1.00, measured quarterly, as of the end of each fiscal quarter.” (d) Exhibit 6-17 to the Loan Agreement is hereby deleted and replaced with the text attached hereto as Exhibit A.

Net Profit. The Gross Revenue of the Entity less all operating and non-operating expenses of the Entity, all determined in accordance with generally accepted accounting principles and the provisions of N.J.S.A. 40A:20-3(c). Included in expenses shall be an amount sufficient to amortize the Total Project Cost over the life of the Project, which period the Parties agree is 30 years, pursuant to the Law.

Net Profit. The gross revenue of the Entity, less all operating and non-operating expenses of the Entity, all determined in accordance with generally accepted accounting principles and the provisions of N.J.S.A. 40A:20-3(c).

Net Profit. After giving effect to the special allocations set forth in Sections 6.4, 6.5 and 6.9, all Net Profit shall be allocated to the Members’ Capital Accounts in the following manner and order of priorities: (a) After giving effect to the allocations contained in Section 6.1(b), the Company’s Net Profit shall be allocated one hundred percent to the Class B Members’ Capital Accounts. (b) To the extent Net Loss was allocated to the Members’ Capital Accounts pursuant to Section 6.2(a), then prior to making the allocations under Section 6.1(a), Net Profit shall be allocated to the Members’ Capital Accounts in an amount equal to and in the reverse order that such Net Loss was allocated.

Net Profit. Net Profit shall be allocated to the Members in proportion to their Percentage Interests.

Net Profit. After giving effect to the special allocations set forth in Sections 9.2 and , Net Profit for each Fiscal Year (or other relevant period) of the Company shall be allocated in the following manner and order of priority: (i) First, to the Members who hold Class A Units and to the Members who hold Class B Units, until cumulative Net Profits allocated pursuant to this Section ARTICLE 9(i) for such Fiscal Year (or other relevant period) and all prior Fiscal Years of the Company equal cumulative Net Losses allocated with respect to such Members pursuant to Section ARTICLE 9(iv) for all prior Fiscal Years of the Company, pro rata among them in proportion to the cumulative Net Losses so allocated with respect to the Class A Units and the Class B Units for all prior fiscal years of the Company; (ii) Second, to the Members who hold Class A Units, in an amount equal to the excess, if any, of (A) the sum of (1) the cumulative Class A Yield from the inception of the Company to the last day of the Fiscal Year, and (2) the cumulative Net Losses allocated with respect to the Class A Units of such Members pursuant to Section ARTICLE 9(iii) for all prior Fiscal Years of the Company over (B) the Net Profits allocated to the Class A Units pursuant to this Section ARTICLE 9(i) for all prior Fiscal Years of the Company; (iii) Third, to the Members who hold Class A Units, in an amount equal to the excess, if any, of (A) the sum of (1) the cumulative internal rate of return distributions each such Member has received pursuant to Section (c) hereof from the commencement of the Company to the last day of such Fiscal Year, and (2) the cumulative Net Losses allocated with respect to the Class A Units of such Members pursuant to Section ARTICLE 9(ii) for all prior Fiscal Years of the Company, over (B) the Net Profits allocated to the Class A Units pursuant to this Section ARTICLE 9(iii) for all prior Fiscal Years of the Company; and (iv) Thereafter, to the Members who hold Class A Units and to the Members who hold Class B Units, pro rata among them in proportion to the relative number of Units they hold.

Net Profit. Except as otherwise provided herein, Net Profit for any fiscal year or other applicable period shall be allocated in the following order and priority: (i) first, to the General Partner in respect of its Series A Preferred Partnership Units and its Series B Preferred Partnership Units to the extent that Net Loss previously allocated to such holder pursuant to Section 5.01(b)(iii) below for all prior fiscal years or other applicable periods exceeds Net Profit previously allocated to the General Partner pursuant to this Section 5.01(a)(i) for all prior fiscal years or other applicable periods, (ii) second, to the General Partner and the Limited Partners holding Common Units in proportion to their respective Percentage Interests to the extent that Net Loss previously allocated to such holders pursuant to Section 5.01(b)(ii) below for all prior fiscal years or other applicable periods exceeds Net Profit previously allocated to such Partners pursuant to this Section 5.01(a)(ii) for all prior fiscal years or other applicable periods, (iii) third, to the General Partner in respect of its Series A Preferred Partnership Units and its Series B Preferred Partnership Units until it has been allocated Net Profit equal to the excess of (x) the cumulative amount of distributions the General Partner has received for all fiscal years or other applicable period or to the date of redemption, to the extent such Series A Preferred Partnership Units and such Series B Preferred Partnership Units are redeemed during such period, over (y) the cumulative Net Profit allocated to the General Partner, pursuant to this Section 5.01(a)(iii) for all prior fiscal years or other applicable periods, and (iv) thereafter, to the Partners holding Common Units in accordance with their respective Percentage Interests.