High Water Xxxx Sample Clauses

High Water Xxxx. Notwithstanding Section 3.5(a) above, if at the end of a fiscal year there exists a Net Capital Depreciation for a particular Limited Partner for such fiscal year, this Section 3.5(b) shall apply. In such event, there shall be established a memorandum account for each such Limited Partner entitled the "Deficit Account," if a Deficit Account does not already exist for such Limited Partner. If a Deficit Account for the Limited Partner did not exist prior to such fiscal year, the initial account Deficit Account balance shall be the amount of the Net Capital Depreciation of such Limited Partner for the fiscal year. If the Deficit Account existed prior to such fiscal year, the Net Capital Depreciation of such Limited Partner for such fiscal year shall be added to the Deficit Account balance. In each succeeding fiscal year, if there is Net Capital Appreciation for such Limited Partner for such fiscal year, the amount thereof shall be subtracted from the balance of the Deficit Account until the Deficit Account balance equals zero. Once the Deficit Account for a particular Limited Partner equals zero, such Deficit Account shall no longer exist and, in the fiscal year the balance reaches zero, the amount of any Net Capital Appreciation for such Limited Partner in excess of the amount contained in such Deficit Account at the beginning of the fiscal year shall be subject to Section 3.5(a). While a Limited Partner has a Deficit Account, Section 3.5(a) shall not apply to such Partner. If a Limited Partner withdraws funds from the Fund while the Limited Partner has a Deficit Account, the Deficit Account balance shall be reduced in the ratio of the withdrawn amount to the Limited Partner's Capital Account prior to the withdrawal. With respect to any Performance Allocation to be made as of a date other than the end of a fiscal year (for example, upon a Limited Partner's withdrawal of capital), the preceding portions of this paragraph shall be applied as of the end of the Performance Allocation measurement period involved rather than as of the end of the fiscal year.
AutoNDA by SimpleDocs
High Water Xxxx. Measurement Period = April 1, 2011 through current end of quarter assumed to be March 31, 2013 (note that High Water Xxxx is on a rolling 24 month look-back, pro rata for first 24 months of this Agreement) Average Equity invested in the Company during the 24 month look back period = $100 million Average Equity invested in the Company during the previous quarter (Calculation Period) = $100 million Total Adjusted Net Income over the preceding 24 months = $16 million Total Adjusted Net Income during the preceding quarter = $5.5 million High Water Xxxx = 9.00% annual rate X 2 years X $100 million average Equity invested = $18 million High Water Xxxx shortfall = $18 million less $16 million = $2 million shortfall Adjusted Net Income for Calculation Period = $5.5 million less $2 million = $3.5 million Hurdle Rate: 12% per annum Amount Required to meet Hurdle Rate: ( $100 million X 12% ) divided by 4 (quarterly) = $3.0 million Adjusted Net Income less Hurdle return = $3.5 million less $3.0 million = $500,000 Incentive Fee = $500,000 X 35% Manager Split = $175,000
High Water Xxxx. First, to such Limited Partner until such time as the balance, if any, in such Limited Partner’s Cumulative Loss Account has been eliminated (but in no event more than the balance existing in such account); and
High Water Xxxx. Measurement Period = The Measurement Period is the previous 12 calendar months Average Equity previous calendar year look back period = $100 million Average Equity during the previous quarter (Calculation Period) = $100 million Total Adjusted Net Income over the preceding calendar year = $3 million Total Adjusted Net Income during the preceding quarter = $5.5 million High Water Xxxx for Measurement Period = 5.00% annual rate X $100 million average Equity invested = $5 million High Water Xxxx shortfall = $5 million less $3 million = $2 million shortfall Adjusted Net Income for Calculation Period- = $5.5 million less $2 million = $3.5 million Hurdle Rate: 12% per annum Amount Required to meet Hurdle Rate: ( $100 million X 12% ) divided by 4 (quarterly) = $3.0 million Adjusted Net Income less Hurdle return = $3.5 million less $3.0 million = $500,000 Incentive Fee = $500,000 X 35% Manager Split = $175,000 EXHIBIT C 64065.000001 EMF_US 43110248v1 # Report Name Delivery Time Period 1 Monthly warehouse schedules showing end of month interest bearing UPB by loan 5th business day after month end 2 Monthly collections detail 5th business day after month end 3 Monthly roll forward of interest bearing UPB 5th business day after month end 4 Monthly detail of loan modifications 5th business day after month end 5 All signed borrower modification documents 5th business day after month end 6 Schedule showing all new REOs 5th business day after month end 7 All REO documents that have been received from foreclosure attorneys 5th business day after month end 8 Month end corp advance roll forward that rolls with reconciling items classified 5th business day after month end 9 Month end escrow roll forward that rolls with reconciling items classified 2 weeks after month end 10 Monthly ending add-on balance detail that ties back to monthly Headlands trial balance without reconciling items 2 weeks after month end 11 Monthly ending deferred balance detail that ties back to monthly Headlands trial balance without reconciling items 2 weeks after month end 12 Monthly NYBidTapeReport file showing loan population and details at month end 1 Day after month end 13 Monthly entity level trial balances, discount amortization reports, and transaction journals. 3 weeks after month end 14 Purchase price allocation Within 10 days of purchase, no later than 5th business day after month end 15 Reimbursable expenses at month end in excel (including breakout of expenses to be capitalized by loan, an...
High Water Xxxx. The High Water Xxxx is the highest Net Asset Value (§ 6.9) obtained at the end of a previous Fiscal Year (§ 1.7), which becomes the beginning balance of the following year, after any Additions and Subscriptions (§ 6.13) and Withdrawals and Redemptions (§ 6.14). Specifically, the High Water Xxxx is the highest beginning balance among previous fiscal years. The High Water Xxxx is used to determine Performance (§ 6.12) and ensures that the Investment Manager (§ 3.6) only charges fees on actual profits. Any losses experienced in one or more prior years must be recouped before any additional Management Fees (§ 3.11) and Performance Allocation (§ 3.12) (aka. 2/20 fee structure) are charged.

Related to High Water Xxxx

  • Number Resources, Rate Center Areas and Routing Points 13.1 Nothing in this Agreement shall be construed to limit or otherwise adversely affect in any manner either Party’s right to employ or to request and be assigned any Central Office Codes (“NXX”) pursuant to the Central Office Code Assignment Guidelines and any relevant FCC or Commission orders, as may be amended from time to time, or to establish, by Tariff or otherwise, Rate Center Areas and Routing Points corresponding to such NXX codes.

  • Rate Center Area The geographic area that has been identified by a given LEC as being associated with a particular NPA-NXX code assigned to the LEC for its provision of Telephone Exchange Services. The Rate Center Area is the exclusive geographic area that the LEC has identified as the area within which it will provide Telephone Exchange Services bearing the particular NPA-NXX designation associated with the specific Rate Center Area.

  • Turn-Over After the occurrence and during the continuance of any Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), each Guarantor shall, if the Administrative Agent so requests, collect, enforce and receive payments on account of the Subordinated Obligations as trustee for the Secured Parties and deliver such payments to the Administrative Agent on account of the Guaranteed Obligations (including all Post Petition Interest), together with any necessary endorsements or other instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions of this Guaranty.

  • Night Shift Differential 1. An employee who works an assigned night shift shall, in addition to his or her regular salary, be paid a night shift differential for each hour actually worked on the assigned night shift.

  • Early and Safe Return to Work The Hospital and the Union both recognize their obligations in facilitating the early and safe return to work of disabled employees. The Hospital and the Union agree that ongoing and timely communication by all participants in this process is essential to the success of the process.

  • Transportation Allowance When an employee is required to travel to the Hospital or to return to her home as a result of reporting to or off work between the hours of 2400 - 0600 hours, (other than reporting to or off work for her regular shift) or any time while on standby, the Hospital will pay transportation costs either by taxi or by her own vehicle at the rate of forty cents (40 cents) per kilometre (to a maximum of fourteen dollars ($14.00) or such greater amount as the Hospital may in its discretion determine for each trip between the aforementioned hours. The employee will provide to the Hospital satisfactory proof of payment of such taxi fare. Where the Hospital requires the employee to travel between sites, the Hospital will pay for transportation costs of forty (40) cents per kilometre unless the Hospital provides transportation between sites.

  • Points 9.6 The points to be assigned to the classification levels under this Agreement shall be: Award Classification Level Recommended Points C14 - C13 - C12 32 C11 64 C10 96 C9 12 additional points above C10 C8 24 additional points above C10 C7 36 additional points above C10 C6 48 additional points above C10 C5 60 additional points above C10 C4 Standards and points to be finalised C3 Standards and points to be finalised C2a Standards and points to be finalised C2b Standards and points to be finalised C1a Standards and points to be finalised C1b Standards and points to be finalised and in accordance with Table 2 in the National Metal and Engineering Competency Standards Implementation Guide. Mixed functions

  • Estimated Number of Participating Households Approximately 6,460. This figure is based on loans with unpaid principal balances ranging from $200,000 to $400,000 with an average funding of $5,000.00.

  • When Must Distributions from a Xxxx XXX Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • Isolation Allowance 3.23.1 An employee whose work requires that they reside at an isolated locality as outlined in clause 3.23.5 or 3.23.6 below, will receive an isolation allowance.

Time is Money Join Law Insider Premium to draft better contracts faster.