Adjusted Capital definition
Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the Shares (including the Company's distribution reinvestment plan), less (ii) distributions to investors that represent a return of capital and amounts paid for share repurchases pursuant to the Company's share repurchase program. For purposes of computing the Incentive Fee, the calculation methodology will look through derivatives or swaps as if the Company owned the reference assets directly. Therefore, net interest, if any, associated with a derivative or swap (which represents the difference between (i) the interest income and fees received in respect of the reference assets of the derivative or swap and (ii) the interest expense paid by the Company to the derivative or swap counterparty) will be included in the calculation of quarterly pre-incentive fee net investment income for purposes of the Incentive Fee. The calculation of the Incentive Fee for each quarter is as follows: · No Incentive Fee shall be payable to the Advisor in any calendar quarter in which the Company's pre-incentive fee net investment income does not exceed the preferred return rate of 1.50% (6.0% annualized) (the "Preferred Return") on Adjusted Capital. · 100% of the Company's pre-incentive fee net investment income, if any, that exceeds the Preferred Return, but is less than or equal to 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor. This portion of the Company's pre-incentive fee net investment income is referred to as the "catch-up." The "catch-up" provision is intended to provide the Advisor with an incentive fee of 12.5% on all of the Company's pre-incentive fee net investment income in any calendar quarter when the Company's pre-incentive fee net investment income reaches 1.715% in such calendar quarter (6.86% annualized). · 12.5% of the amount of the Company's pre-incentive fee net investment income, if any, that exceeds 1.715% in any calendar quarter (6.86% annualized) shall be payable to the Advisor once the Preferred Return is reached and the catch-up has been achieved (12.5% of the Company's pre-incentive fee net investment income thereafter shall be allocated to the Advisor).
Adjusted Capital means cumulative gross proceeds generated by the Corporation from sales of shares of Common Stock (including proceeds from the Corporation’s distribution reinvestment plan) reduced for amounts paid for share repurchases pursuant to the Corporation’s share repurchase program. The calculation of the Subordinated Incentive Fee on Income for each quarter is as follows:
Adjusted Capital means (i) cumulative gross proceeds generated from sales of the Fund’s Shares, less (ii) distributions from non-liquidating dispositions of the Fund’s investments paid to shareholders.
Examples of Adjusted Capital in a sentence
Once Core Earnings in a Performance Measurement Periods exceeds the Hurdle Rate, the Adviser shall be entitled to a “catch-up” fee equal to the amount of Core Earnings in excess of the Hurdle Rate, until Core Earnings for the applicable Performance Measurement Period exceeds a percentage of average Adjusted Capital equal to the Hurdle Rate divided by 0.875 (or 1 minus 0.125) for the applicable Performance Measurement Period.
The Performance Fee shall be in an amount, not less than zero, equal to (i) 12.5% of Core Earnings for the immediately preceding quarter (each such period, a “Performance Measurement Period”), subject to a hurdle rate, expressed as a rate of return on average Adjusted Capital, equal to 1.25% per quarter (the “Hurdle Rate”), or an annualized hurdle rate equal to 5.0%.
More Definitions of Adjusted Capital
Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the shares of our capital stock (including any distribution reinvestment plan), less (ii) distributions to our investors that represent a return of capital and amounts paid for share repurchases pursuant to any share repurchase program.
Adjusted Capital means cumulative net proceeds generated from sales of Class S Common Shares, Class F-S Common Shares, Class T Common Shares, Class D Common Shares, Class F-D Common Shares, Class I Common Shares and Class F-I Common Shares (including proceeds from the distribution reinvestment plan) reduced for any Distributions deemed to be a return of paid-in capital paid to such Shareholders and amounts paid to such Shareholders for share repurchases pursuant to the Trust’s share repurchase plan.
Adjusted Capital means the following, as applicable: (i) statutory surplus for Reinsurers that report on a U.S. statutory reporting basis; (ii) GAAP equity minus deferred acquisition costs (DAC) for Reinsurers that report on a U.S. GAAP or Canadian GAAP basis; and (iii) "capital and surplus" for Reinsurers that report on any other accounting basis (including the International Accounting Standards (IAS) reporting basis).
Adjusted Capital is defined as cumulative proceeds generated from sales of shares of a particular share class (inclusive of proceeds from the sale of shares pursuant to the distribution reinvestment plan), net of sales load (upfront sales commissions and upfront dealer manager fees), if any, reduced for the full amounts paid for share repurchases pursuant to the Company’s share repurchase program, if any, for such class.
Adjusted Capital means cumulative gross proceeds received by the Fund from the sale of Common Shares (including proceeds from the Fund’s distribution reinvestment plan), reduced by amounts paid in connection with purchases of Common Shares pursuant to the Fund’s share repurchase program. The calculation of the Incentive Fee for each quarter is as follows:
Adjusted Capital means (i) cumulative gross proceeds generated from sales of the Fund’s Shares, including pursuant to the Fund’s distribution reinvestment program, less (ii) amounts paid in connection with repurchases of the Fund’s Shares pursuant to the Fund’s repurchase program under Rule 23c-3 under the 1940 Act.
Adjusted Capital is defined as the cumulative gross proceeds received by the Fund from the sale of Fund shares (including pursuant to the Fund’s dividend reinvestment plan), reduced by amounts paid in connection with purchases of Fund shares pursuant to the Fund’s share repurchase program and further reduced by distributions representing a return of capital.