Common use of Sharing of Profits Clause in Contracts

Sharing of Profits. The partners shall be entitled to share in the net profits arising from the operation of the partnership after payment of the expenses described in paragraph D.1. of Article IX. Each partner shall be entitled to share in the net profits in the following proportions: Losses. All losses which shall occur in the operation of said business shall first be paid out of the income of the partnership, if any, and then operating capital of the partnership, or if the same shall be deficient, by each partner in the same proportion as such partner's appropriate share in partnership profits.

Sharing of Profits. The partners shall be entitled to share in the net profits arising from the operation of the partnership after payment of the expenses described in paragraph D.1. of Article IX. Each partner shall be entitled to share in the net profits in the following proportions: Losses. All losses which shall occur in the operation of said business shall first be paid out of the income of the partnership, if any, and then operating capital of the partnership, or if the same shall be deficient, by each partner in the same proportion as such partner's appropriate share in partnership profits.: