Look-Back Provision Sample Clauses
A Look-Back Provision is a contractual clause that allows parties to review and adjust certain terms or calculations based on information or events that occur after an initial date but relate to an earlier period. For example, in financial agreements, this provision might permit the recalculation of interest rates, payments, or performance metrics using data that becomes available after the fact, such as finalized financial statements or market rates. The core practical function of a Look-Back Provision is to ensure fairness and accuracy by allowing adjustments when relevant information was not available at the original calculation date, thereby reducing the risk of miscalculation or inequity due to timing issues.
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Look-Back Provision. As a condition of making the PDC Loan, Agency requires an IRR look back provision and IRR test to determine if the rate of return for the Parking Structure exceeds the IRR level set by the Parties. If Redeveloper’s IRR exceeds the targeted rate of twelve percent (12%), the Redeveloper shall pay additional interest, when the PDC Loan is due, in an amount that reduces the IRR to the target level. The amount of interest paid shall not exceed the difference in the market rate interest and the actual interest paid over the twenty year term of the PDC Loan. The market rate interest shall be deemed to be equal to the initial interest rate charged on the senior permanent lender’s loans at senior permanent loan closing.
Look-Back Provision. During the period following 90 days after Closing, as herein defined, in the event that a third party makes an offer to purchase all of the right, title and interest in and unto the interests of Imperial at Coquille Bay on terms and conditions that
Look-Back Provision. Employees who, for the previous nine (9) months, have on average worked forty (40) hours or more per pay period will upon request be granted benefits, appropriate to the number of hours worked. These employees will forfeit the per diem differential in lieu of benefits. Employees must maintain the forty (40) hours per pay period average which will be reviewed on a quarterly basis in order to remain eligible for benefits.
Look-Back Provision. If the Company or any of its Affiliates consummates, or enters into a binding agreement to consummate, a Look-back Event within six (6) months following the Call Closing Date then, upon consummation of such Look-back Event, each Holder shall be entitled to receive from the Company an amount in Cash, payable by wire transfer of immediately available funds to an account designated by such Holder, equal to the product of (x) the excess, if any, of the applicable Look-back Value over the Call Price, multiplied by (y) the amount of Common Shares sold by such Holder pursuant to the Company’s exercise of the Call Right.
Look-Back Provision. Upon sale of the property there will be a review the Project’s Internal Rate of Return (IRR) to determine if it met or exceeded a 20% IRR. If the Project exceeds 20%, the Redeveloper will be required to repay a portion of the assistance not to exceed 50% of the total.