Ashford Promote Calculation Sample Clauses

Ashford Promote Calculation. Assuming the Ashford Promote is qualified for the Company, on the second anniversary of the Company, the monthly Ashford Yields utilized for the then expired term of the Loan are recalculated by allocating an additional 5% of the Investment Yield to the Ashford Yields (i.e., an Investment Yield multiplier of 1.35x assuming no prior Maximum Spread adjustments. If there had been a Maximum Spread adjustment, the recalculation would utilize the actual multiplier + 0.05x). For the February interest payment, the recalculated Ashford Yield is as follows: Ashford Yield = 1.35 x 8.55% = 11.54% The Ashford Yield Percentage is recalculated with respect to each payment of monthly interest received during the expired term. For the February interest payment: Ashford Yield % = 11.54% x 25% / 8.55% = 33.75% Thus, Ashford should have received $183,558 (33.75% of the interest payment). The shortfall of $6,798 together with the sum of the shortfalls for all months of the expired term totaling $150,321 are to be paid to Ashford by Investor as the Ashford Promote on the second anniversary of the Company. The foregoing recalculation of the Ashford Yields and payment of shortfall amounts by Investor shall be performed on each anniversary date following the second anniversary of the Company, covering the prior twelve month period. Upon repayment of the Loan in full, the recalculation of the Ashford Yields and payment of shortfall amounts shall cover the period since the last anniversary date of the Company. 3 If the Loan were not purchased at a Discount, the full amount of the principal received would be distributed to the parties in accordance with their Percentage Interests.
Sample 1
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