Net Profits

Net Profits. For the Project Wells for any Month shall have the meaning set forth in Exhibit E attached hereto.

Net Profits. With respect to the Product for any period means [***] minus [***] during such period and further minus [***].

Net Profits. Means, with respect to any Unit, net profits computed under GAAP with respect to Adjusted Gross Proceeds from the sale of all Residential Lots within such Unit, with the following adjustments: (i) Costs deducted from Adjusted Gross Proceeds in determining Net Profits for a Unit shall include a warranty reserve expense equal to the following: (A) If the Adjusted Gross Proceeds for a Residential Lot exceed Two Hundred Fifty Thousand Dollars... ($250,000), then the warranty reserve expense will be equal to three-quarters of one percent (0.75%) of Adjusted Gross Proceeds from such Residential Lot; and (B) If the Adjusted Gross Proceeds for a Residential Lot do not exceed Two Hundred Fifty Thousand Dollars ($250,000), then the warranty reserve expense will be equal to one percent (1.00%) of Adjusted Gross Proceeds from such Residential Lot. The warranty reserve expense under this part (i) shall be in lieu of any other cost deduction from Adjusted Gross Proceeds for warranty costs for such Unit. (ii) Costs deducted from Adjusted Gross Proceeds in determining Net Profits for a Unit shall include a general and administrative expense deduction equal to three percent (3%) of Adjusted Gross Proceeds from such Unit, which shall be in lieu of any other cost deduction from Adjusted Gross Proceeds for general or administrative expenses for such Unit; (iii) The actual costs of all Extras in such Unit (but excluding the costs for any sales concessions and other sales incentives which have already been deducted in calculating the Adjusted Gross Proceeds) shall be deducted from Adjusted Gross Proceeds for such Unit in determining Net Profits for such Unit; (iv) Costs deducted from Adjusted Gross Proceeds in determining Net Profits for a Unit shall include a financing (interest) expense equal to the Prime Rate plus 1% on all costs (other than the costs referenced in this subparagraph (iv)) deducted from Adjusted Gross Proceeds in determining Net Profits for such Unit, which shall be in lieu of any other cost deduction for financing costs for such Unit; -3- 5 (v) Costs consisting of direct selling expenses paid to outside brokers representing Buyer, as a homeseller, shall be limited to one and one-half percent of the Adjusted Gross Proceeds for such Unit. The parties acknowledge that such direct selling expenses do not include, and the foregoing limitation does not apply to, brokerage commissions payable to outside brokers representing homebuyers, if any; (vi) Closing costs for the Unit shall not exceed the amount of closing costs that are customarily paid by sellers of similar new residential units in San Joaquin County; (vii) To the extent that any amounts are paid to affiliates of Buyer for services or materials rendered in connection with such Unit, such costs shall not exceed the lesser of (A) the amounts actually incurred by Buyer, or (B) the costs for such services and/or materials that is customarily charged in an "arms-length" transaction in San Joaquin County; and (viii) Net Profits for a Unit shall include all Design Center Fees paid to Buyer for such Unit. View More

Net Profits. Shall mean the gross receipts derived in arms-length transactions from the sale of Teva Generic Modafinil Product in the United States, or applicable other markets by Teva (or by its Affiliates or sublicensees), to independent third parties in the United States or applicable other markets, less the sum of the following items: (a)Import, export, excise and sales taxes and custom duties paid or allowed by the selling party and any other governmental charges imposed upon the production,... importation, use or sale of Teva Generic Modafinil Product by Teva and/or its Affiliates; (b)Credit for returns, refunds, rebates and allowances, or trades to customers for returned or recalled Teva Generic Modafinil Product; (c)Trade, quantity and cash discounts actually allowed; (d)Transportation, freight and insurance allowances; (e)Rebates actually granted to wholesalers or other customers, administrative fees in lieu of rebates paid to managed care and other similar institutions, chargebacks and retroactive price adjustments, including Shelf Stock Adjustments, and any other similar allowances which effectively reduce the net selling price; and **Portions of the Exhibit have been omitted and have been filed separately purusant to an application for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. 6 (f)The purchase price paid to Cephalon for Teva Generic Modafinil Product pursuant to any applicable Cephalon/Teva License and Supply Agreement, or Teva's costs of making Teva Generic Modafinil Product. Gross and Net Profits shall be calculated according to US GAAP. Sales or transfers between or among a party to this Agreement and its Affiliates or sublicensees shall be excluded from the computation of Net Profits except where such Affiliates or sublicensees are end users, but Net Profits shall include the subsequent final sales to third parties by such Affiliates or sublicensees. Where (i) Teva Generic Modafinil Product is sold as one of a number of items without a separate price; or (ii) the consideration for the Teva Generic Modafinil Product shall include any non-cash element; or (iii) the Teva Generic Modafinil Product shall be transferred in any manner other than an invoiced sale, the gross sales applicable to any such transaction shall be deemed to be the selling party's average gross sales for the applicable quantity of Teva Generic Modafinil Product during the calendar quarter. If there are no independent gross sales of Teva Generic Modafinil Product in the United States or applicable other markets at that time, then Teva and Cephalon shall appoint a mutually acceptable third party (that is not an Affiliate of either Teva or Cephalon) to determine in good faith an estimate of the gross sales applicable to any such transactions based on a consideration of all relevant market factors, taking into account practices and policies customary in the industry. View More

Net Profits. Means an amount (not less than zero) determined as of the end of any applicable period of determination, by subtracting (a) the sum of the Company's direct expenses associated with such revenues, whether paid or accrued, based on the internally prepared financial statements of the Company, as reasonably acceptable to Golden Matrix, as of and for such applicable period, determined in accordance with Generally Accepted Accounting Principles (GAAP) consistently applied, from (b) the sum of (A) any... cash revenues of the Company for such applicable period of determination; and (B) the Golden Matrix Offsetting Expenses. View More

Net Profits. Shall have the meaning specified in the Beal Net Profits Assignment.

Net Profits. Payable to the Trust hereunder is defined as to each |*| referred to herein on the same terms as net profits are defined in the agreement relating to payments from such work to or for the benefit of Ask Jeeves and/or any Parent, Affiliate or Successor of Ask Jeeves, provided that if there is no such agreed definition of net profits relating to such work then a definition of net profits shall be negotiated in good faith... between the Trust and the producer of the said work on terms customary in the industry, which definition shall be agreed to between the parties prior to release of said |*|. View More

Net Profits. For each taxable year of 35, 35's income, gain, loss, deductions, and credits, in the aggregate or separately stated, as appropriate, determined in accordance with standard accounting principles.

Net Profits. The gross receipts derived in arms-length transactions from the sale of Carlsbad Generic Modafinil Product in the Territory by Watson (or by its **Portions of the Exhibit have been omitted and have been filed separately pursuant to an application for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Affiliates and/or sublicensees) to independent third parties in the Territory, less the sum of... the following items: (a) Import, export, excise and sales taxes and custom duties paid or allowed by the selling party and any other governmental charges imposed upon the production, importation, use or sale of Carlsbad Generic Modafinil Product by Carlsbad, Watson and/or their Affiliates and/or sublicensees; (b) Credit for returns, refunds, rebates and allowances, or trades to customers for returned or recalled Carlsbad Generic Modafinil Product; (c) Trade, quantity and cash discounts; (d) Transportation, freight and insurance allowances; (e) Rebates (direct or indirect) actually granted to wholesalers or other customers, rebates or administrative fees in lieu of rebates paid to managed care, institutions, government purchasers, Medicaid and other similar government programs, chargebacks and retroactive price adjustments, and any other similar allowances which effectively reduce the net selling price; and (f) The purchase price paid to Cephalon for Carlsbad Generic Modafinil Product pursuant to Section 3.4 and any applicable license and supply agreement among the Parties, or the costs incurred by Carlsbad or Watson to make Carlsbad Generic Modafinil Product. Net Profits shall be calculated according to US GAAP consistently applied. Sales or transfers between or among a party to this Agreement and its Affiliates shall be excluded from the computation of Net Profits except where such Affiliates are end users, but Net Profits shall include the subsequent final sales to third parties by such Affiliates. **Portions of the Exhibit have been omitted and have been filed separately pursuant to an application for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Where (i) Carlsbad Generic Modafinil Product is sold as one of a number of items without a separate price; or (ii) the consideration for the Carlsbad Generic Modafinil Product shall include any non-cash element; or (iii) the Carlsbad Generic Modafinil Product shall be transferred in any manner other than an invoiced sale, the gross sales applicable to any such transaction shall be deemed to be the selling party's average gross sales for the applicable quantity of Carlsbad Generic Modafinil Product during the calendar quarter. If there are no independent gross sales of Carlsbad Generic Modafinil Product in the Territory at that time, then Watson, Carlsbad and Cephalon shall appoint a mutually acceptable third party (that is not an Affiliate of either Watson, Carlsbad or Cephalon) to determine in good faith an estimate of the gross sales applicable to any such transactions based on a consideration of all relevant market factors, taking into account practices and policies customary in the industry. In the event that any discounts, allowances, payments or rebates are offered for the Carlsbad Generic Modafinil Product where it is sold to a customer as a grouped set of products, the applicable discount, allowance, payment or rebate for the Carlsbad Generic Modafinil Product for purposes of calculating Net Profits under this Agreement shall be based upon the weighted average discount, allowance, payment or rebate of such grouped set of products; each to the extent consistent with Watson's usual course of dealing for its products other than the Carlsbad Generic Modafinil Product. View More

Net Profits. Shall mean the gross receipts derived in arms-length transactions from the sale of Mylan Generic Modafinil in the United States, or applicable other markets by Mylan (or by its Affiliates), to independent third parties in the United States or applicable other markets, less the sum of the following items: (a) Import, export, excise and sales taxes and custom duties paid or allowed by the selling party and any other governmental charges imposed upon the production, importation, use... or sale of Mylan Generic Modafinil by Mylan and/or its Affiliates; (b) Credit for returns, refunds, rebates and allowances, or trades to customers for returned or recalled Mylan Generic Modafinil; (c) Trade, quantity and cash discounts; (d) Transportation, freight and insurance allowances; (e) Rebates (direct or indirect) actually granted to wholesalers or other customers, rebates or administrative fees in lieu of rebates paid to managed care, institutions, government purchasers, Medicaid and other similar government programs, chargebacks and retroactive price adjustments, and any other similar allowances which effectively reduce the net selling price; and (f) The purchase price paid to Cephalon for Mylan Generic Modafinil pursuant to any applicable Cephalon/Mylan License and Supply Agreement, or Mylan's costs of making Mylan Generic Modafinil. Net Profits shall be calculated according to US GAAP consistently applied. Sales or transfers between or among a party to this Agreement and its Affiliates shall be excluded from **Portions of the Exhibit have been omitted and have been filed separately pursuant to an application for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. 5 the computation of Net Profits except where such Affiliates are end users, but Net Profits shall include the subsequent final sales to third parties by such Affiliates. Where (i) Mylan Generic Modafinil is sold as one of a number of items without a separate price; or (ii) the consideration for the Mylan Generic Modafinil shall include any non-cash element; or (iii) the Mylan Generic Modafinil shall be transferred in any manner other than an invoiced sale, the gross sales applicable to any such transaction shall be deemed to be the selling party's average gross sales for the applicable quantity of Mylan Generic Modafinil during the calendar quarter. If there are no independent gross sales of Mylan Generic Modafinil in the United States or applicable other markets at that time, then Mylan and Cephalon shall appoint a mutually acceptable third party (that is not an Affiliate of either Mylan or Cephalon) to determine in good faith an estimate of the gross sales applicable to any such transactions based on a consideration of all relevant market factors, taking into account practices and policies customary in the industry. In the event that any discounts, allowances, payments or rebates are offered for the Mylan Generic Modafinil where it is sold to a customer as a grouped set of products, the applicable discount, allowance, payment or rebate for the Mylan Generic Modafinil for purposes of calculating Net Profits under this Agreement shall be based upon the weighted average discount, allowance, payment or rebate of such grouped set of products; each to the extent consistent with Mylan's usual course of dealing for its products other than the Mylan Generic Modafinil. View More