TRUST PERIOD PROFITS

TRUST PERIOD PROFITS. Shall mean income before extraordinary items of Empress for the period of time the Trust Property is held in trust by the Trustee under the Trust Agreement, to be calculated by Empress in accordance with generally accepted accounting principles, subject to review by the Auditor at the direction of the Board. For purposes of calculating income before extraordinary items of Empress, Argosy shall determine, subject to the Board's approval, within thirty (30) days of a Trigger Event the percentage... of Argosy's outstanding third party debt and income and other tax expenses attributable to Empress. View More