Revenue in Accordance with GAAP

Revenue in Accordance with GAAP. Shall mean an amount equal to the aggregate revenues generated directly by the activities of the Team from any and all sources (less errors and any losses incurred in connection with these activities) that are received by JVB during the calendar quarter being measured, all as calculated in accordance with U.S. generally accepted accounting principles as applied by the Company. Only revenues generated in accordance with the Company's and its subsidiaries' policies and regulatory requirements... shall be taken into account for purposes of this definition. For the avoidance of doubt, the Parties acknowledge that charges for the cost of equity capital used by the Team that are deducted from revenue for the purposes of calculating the Team's commissions, shall not be deducted when determining Revenue in Accordance with GAAP for this Agreement View More