Hurdle Amount Sample Clauses
The Hurdle Amount clause defines a specific financial threshold that must be reached before certain payments, such as profit distributions or incentive fees, are made to a party, typically in investment or partnership agreements. In practice, this means that investors or partners must receive returns up to the hurdle amount before managers or general partners are entitled to additional compensation or profit sharing. This clause ensures that the interests of managers are aligned with those of investors by prioritizing a minimum return, thereby protecting investors and incentivizing strong performance.
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Hurdle Amount. The Hurdle Amount (as such term is defined in the LLC Agreement) applicable to the Employee Units is $390,000,000, and represents the aggregate fair market value of all of the equity of the Unitholders (as that term is defined in the LLC Agreement) as of the date hereof (after giving effect to the acquisition of membership interests of the Company by THL).
Hurdle Amount. To the extent necessary for a Profits Unit to be a partnership profits interest for U.S. federal tax purposes, such Profits Unit shall have a Hurdle Amount maintained in the records of the Company, which shall be in addition to the Benchmark Amount as specified in the Company Operating Agreement
Hurdle Amount. For the applicable period, an amount that when annualized would equal 5.0% of the Beginning VPU.
Hurdle Amount. The Incentive Unit Hurdle Amount for the Incentive Units being granted to the Participant pursuant to this Agreement is equal to $0, such amount being determined by the General Partner as of the Grant Date pursuant to Section 3.04 of the Partnership Agreement; provided, that the Incentive Unit Hurdle Amount shall, in any event, be consistent with the intended characterization of the Incentive Units being granted hereunder as a “profits interest.”
Hurdle Amount. On the first Business Day of each month, Agent shall notify Lockbox Bank of the Hurdle Amount for such month. Upon the opening of business on each Business Day of each month, Lockbox Bank shall calculate the amount of collected funds on deposit in the Lockbox Accounts for such month (the "Collected Funds"). For each month, beginning with the second Business Day following the Business Day on which the Lockbox Bank has determined that the Collected Funds exceed the Hurdle Amount for such month (the amount of such excess hereinafter is referred to as the "Remainder Funds"), Lockbox Bank shall remit the Remainder Funds to Borrowers until the end of such month.
Hurdle Amount. For any period during a Reference Period, a Hurdle Amount means that amount that results in a 5% annualized internal rate of return on the Net Asset Value of Units of the Master Aggregator outstanding at the beginning of the then-current Reference Period and all Units of the Master Aggregator issued since the beginning of the then-current Reference Period, calculated in accordance with recognized industry practices and taking into account: (i) the timing and amount of all distributions accrued or paid (without duplication) on all such Units and (ii) all issuances of Units over the period. The ending Net Asset Value of Units of the Master Aggregator used in calculating the internal rate of return will be calculated before giving effect to any allocation or accrual to the Performance Participation Allocation and applicable Servicing Fees and without taking into account any accrued and unpaid taxes of any Intermediate Entity (or the receipts of such Intermediate Entity) through which the Partnership indirectly invests in an Investment or any comparable entities of any Other Stonepeak Account, or taxes paid by any such Intermediate Entity since the end of the prior Reference Period. For the avoidance of doubt, the calculation of the Hurdle Amount for any period will exclude any Units repurchased during such period, which Units will be subject to the Performance Participation Allocation upon repurchase as described in Section 3.3.
Hurdle Amount. Each LTIP Unit shall be subject to a hurdle amount (the “Hurdle Amount”), which shall be: (a) as of the date hereof with respect to each outstanding LTIP Unit, as set forth on the Member Schedule or (b) with respect to each subsequently issued LTIP Unit that is intended to constitute a Profits Interest for U.S. federal income tax purposes, an amount not less than the amount determined by the Managing Member to be necessary to cause such LTIP Unit to constitute a Profits Interest, as set forth on the Member Schedule. The Hurdle Amount may be adjusted by the Managing Member in good faith to account for any reverse split pursuant to Section 4.02(f) or for any Capital Contributions and distributions made pursuant to Section 5.03(b) or in connection with any other change in the Company’s capital structure to prevent such changed capital structure from changing the economic rights represented by the LTIP Unit in a manner that is disproportionately favorable or unfavorable in relation to the economic rights of other outstanding LTIP Units or Class X Umbrella Units. Each subsequently issued LTIP Unit that is intended to constitute a Profits Interest shall have an initial Capital Account at the time of its issuance equal to zero dollars ($0.00).
Hurdle Amount. The Hurdle Amount for the Class B Units being granted to the Participant pursuant to this Agreement is equal to $0.00, such amount being determined by the Board as of the Grant Date pursuant the LLC Agreement; provided, that the Hurdle Amount shall, in any event, be consistent with the intended characterization of the Class B Units being granted hereunder as a “profits interest.”
Hurdle Amount. For the applicable period, an amount equal to 5.0% of the Beginning VPU. Independent Director. Independent Director shall have the meaning set forth in the Charter. Independent Expert. A person or entity with no material current or prior business or personal relationship with the Advisor or the Directors and who is engaged to a substantial extent in the business of rendering opinions regarding the value of assets of the type held by the Corporation.
Hurdle Amount. For each class of shares, the per share amount that results in a 5% annualized rate of return for the year, calculated using the Starting NAV of such class, multiplied by the weighted average number of shares of such class for the year, and taking into account the timing and amount of all distributions accrued or paid (without duplication) on all such shares, and calculated in accordance with recognized industry practices. The Ending NAV of the shares used in calculating the rate of return for each class will be calculated before giving effect to any allocation/accrual to the performance fee. Except as described in Loss Carryforward below, any amount by which Total Return falls below the Hurdle Amount will not be carried forward to subsequent periods.