NAV Calculation Clause Samples

The NAV Calculation clause defines the method for determining the Net Asset Value (NAV) of a fund or investment vehicle. It typically outlines the timing, frequency, and formula used to calculate the NAV, specifying which assets and liabilities are included and how they are valued. For example, it may require that the NAV be calculated daily using market prices for securities and deducting any outstanding liabilities. This clause ensures transparency and consistency in valuing the fund, providing investors and managers with a reliable basis for transactions, performance measurement, and reporting.
NAV Calculation. (a) On each Valuation Day determined by the General Partner in accordance with applicable Laws and the provisions of the Information Memorandum, the Net Asset Value per Unit shall be calculated by the agent appointed thereto by General Partner; (b) The Net Asset Value per Unit shall be expressed in the functional currency of the Partnership and shall be determined as of any Valuation Day by dividing the net assets of such class of Units on any such Valuation Day by the number of Units then outstanding, in accordance with the valuation rules set forth below; (c) The Net Asset Value per Unit may be rounded up or down up to two (2) decimals; (d) If following the determination of the Net Asset Value per Unit there is a material change in relation to (i) a substantial part of the assets or rights to assets of the Partnership or (ii) the quotations in the markets on which a substantial portion of the Investments of the Partnership are dealt in or quoted, the General Partner may, in order to safeguard the interest of the Limited Partners and the Partnership, cancel the first valuation and carry out a subsequent valuation; (e) Units to be redeemed (if any) shall be treated as existing and taken into account until the date fixed for redemption, and from such time and until paid by the relevant Partnership the price thereof shall be deemed to be a liability of the Partnership; (f) Units to be issued by the Partnership shall be treated as being in issue as from the date of issue and from such time and until received by the Partnership the price thereof shall be deemed to be a debt due to the Partnership; (g) All Investments, cash balances and other assets expressed in currencies other than the currency of denomination of the relevant Units in force at the date and time for determination of the Net Asset Value per Unit of the Partnership; and (h) For the avoidance of doubt, these provisions are rules for determining the Net Asset Value per Unit and are not intended to affect the treatment for accounting or legal purposes of the assets and liabilities of the Partnership or any Units issued by the Partnership.
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Related to NAV Calculation

  • Payment Calculation District shall pay Contractor at a rate of $ per . District shall pay Contractor as described in attached Exhibit A

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Pro Forma Calculations (a) Notwithstanding anything to the contrary herein, financial ratios, tests and covenants, including the Leverage Ratio and the Fixed Charge Coverage Ratio shall be calculated in the manner prescribed by this Section 1.9. (b) For purposes of calculating any financial ratio, covenant or test, Specified Transactions (with any incurrence or repayment (excluding voluntary repayments) of any Debt in connection therewith to be subject to Section 1.9(c)) that have been made (i) during the applicable measurement period and (ii) subsequent to such period and prior to or simultaneously with the event for which the calculation of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in EBITDA and the component financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable measurement period. If, since the beginning of any applicable period any Person that subsequently became a Subsidiary or was merged, amalgamated or consolidated with or into Borrower or any of its Subsidiaries since the beginning of such period shall have made any Specified Transaction that would have required adjustment pursuant to this Section 1.9, then such financial ratio or test shall be calculated to give pro forma effect thereto in accordance with this Section 1.9. (c) In the event that Borrower or any Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption, repayment (other than voluntary repayments), retirement or extinguishment) any Debt included in the calculations of any financial ratio, covenant or test (in each case, other than Debt incurred or repaid under any revolving credit facility), (i) during the applicable period or (ii) subsequent to the end of the applicable period and prior to or simultaneously with the event for which the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such incurrence or repayment of Debt, to the extent required, as if the same had occurred on the last day of the applicable period.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • Interest Calculations Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”).