Excess Return Sample Clauses

Excess Return. Excess Return is the arithmetic difference between the annualized performance of the Sub-Account II Managed Assets during the applicable period, calculated geometrically, and the annualized performance of the Xxxxxx Xxxxxxx Capital International All Country World Index (net) during the same period, calculated geometrically.

Excess Return. In the event of, and conditional upon the occurrence of a Realisation by the fifth anniversary of the Completion Date, the Investors shall, upon receipt by them of all the cash proceeds of such Realisation (and pro rata to their respective holdings of Ordinary Shares), make a payment or payments to a new bank account set up by the Company of such amount as shall equal 15% of the proceeds of the Excess Return. The Company shall as soon as practicable following receipt of such amount(s) into such new bank account make a payment (in one or more tranches) to each Ordinary Shareholder who was an Ordinary Shareholder immediately prior to such Realisation (other than to an Investor or holder of Warrants) of an amount which bears the same proportion of the monies in such account as the number of Ordinary Shares held by such Ordinary Shareholders immediately prior to such Realisation bears to the number of Ordinary Shares held by all Ordinary Shareholders (other than those held by the Investors or as a result of the conversion of any of the Warrants) immediately prior to such Realisation.

Excess Return. When the Excess Return methodology is employed, it is anticipated that holders of the proposed ComPS will realize a return on their investment equivalent to a trading strategy that holds a fully collateralized near term commodity futures contract for the linked commodity and, near the expiration of the contract, rolls, the position into the next nearest designated contract. To minimize possible pricing volatility arising from conducting the ‘‘roll’’ on a single business day, the substitution of the new contract for the old will be accomplished over a five business day period in increments of 20 % of the index value. For example, the index change on the day immediately following the first roll is 80 % of the old contract change plus 20 % of the new contract change. On the next day, the index change is 60 % old contract and 40 % new contract and so forth until after the last roll day the index change is now 100 % the new contract change. For energy commodities, the ‘‘roll’’ will be conducted each month. For base and precious metals, due to the absence of a designated contract for each month, the ‘‘roll’’ will be conducted periodically into the designated contract. Rolls for all commodities will begin on the fifth business day of the month. If a market disruption ( e.g., a limit price move, no trading or limited trading) occurs on a roll day, then the affected commodity will not roll on that day, and the volume to roll will accumulate and roll on the next available day. The Excess Return methodology for calculating the value of the linked commodity will permit investors to realize the return on holding a continuous unleveraged investment in the nearby futures contract. The investment return of this strategy can be characterized as the sum of ‘‘price’’ return and ‘‘roll’’ return and is simply the return from holding a continuous position in nearby futures contracts and, as the contract nears expiration, selling it and reinvesting all proceeds into the next designated contract. Price return is the return that arises solely from changes over time in the price of the nearby contract. Thus, if on the first day of a given month the price of the nearby contract is $15.00, and on the 30th day of such month the price of the contract is $15.50, the investor in such contract has earned a price return of 3.3 % ($0.50/$15 or 3.33 %). Roll return represents the yields which are potentially available as a result of the differential between the prices for shorter-dated commo...

Excess Return. Excess Return is the difference between the EOP Account Value of any NAV Tranche and the Benchmark Account EOP Value for such Tranche.