No Net Losses Sample Clauses

The "No Net Losses" clause ensures that neither party to an agreement will suffer a financial detriment as a result of the contract's execution or performance. In practice, this clause typically requires that if one party incurs a loss due to actions or circumstances related to the agreement, the other party must compensate them to restore their original financial position. For example, if a change in law or unforeseen event causes additional costs, the affected party is reimbursed so they are not worse off. The core function of this clause is to allocate risk fairly and maintain the financial status quo for both parties, preventing unintended economic harm.
No Net Losses. The Borrower will not permit Consolidated Adjusted Net Income to be less than $0 in each of any two fiscal quarters of the Borrower during any period of four fiscal quarters commencing with the fiscal quarter ending September 30, 2005.
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No Net Losses. Permit the Company to have, on a consolidated basis, a net loss at the end of any fiscal year (other than the fiscal year ending December 31, 1995), or HCL to have a net loss at the end of any fiscal year (including the year ending December 31, 1995).
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No Net Losses. The Borrowers and their Subsidiaries will not permit Consolidated Net Income for each period consisting of two (2) consecutive fiscal quarters to be less than $1.00. (g) Section 7 of the Credit Agreement is hereby amended by inserting at the end thereof the following new Section 7.8:
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Related to No Net Losses

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows: (i) First, 2% to the General Partner, and 98% to the Unitholders, Pro Rata, until the aggregate Net Losses allocated pursuant to this Section 6.1(b)(i) for the current taxable year and all previous taxable years is equal to the aggregate Net Income allocated to such Partners pursuant to Section 6.1(a)(iii) for all previous taxable years, provided that the Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (ii) Second, 2% to the General Partner, and 98% to the Unitholders, Pro Rata; provided, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(ii) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (iii) Third, the balance, if any, 100% to the General Partner.

  • Net Loss A Net Loss for a particular fund or, in the case of a multi-class fund, a class results when aggregate Losses exceed aggregate Benefits (i.e., net redemptions on a day the fund’s or class’s NAV is overstated or net subscriptions on a day the fund’s or class’s NAV is understated) during the Error Period.

  • Profits/Losses For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • 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.