Average Adjusted Capital definition

Average Adjusted Capital for any fiscal year shall mean the average of five (5) numbers consisting of the Adjusted Capital as of the last day of the fiscal year and as of the last day of the four preceding fiscal quarters. “Adjusted Capital” as of any date shall mean (i) the Company’s total assets, as adjusted in accordance with Section 2.4 below, minus (ii) the Company’s total liabilities other than debt for borrowed money and capital lease obligations, in each case as set forth in the consolidated balance sheet of the Company and its subsidiaries as of the applicable date or otherwise determined from the Company’s accounting records on a consistent basis.

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Average Adjusted Capital is defined as the daily average of (i) cumulative proceeds generated from sales of the Company’s common shares, (ii) reduced for (A) distributions paid to the Company’s shareholders that represent return of capital on a tax basis, and (B) the cumulative historical proceeds originally generated from sales of the Company’s common shares that have been repurchased pursuant to the share repurchase program or a liquidity event.

Average Adjusted Capital means, the average value of the Adjusted Capital for the two most recently completed fiscal quarters.

Examples of Average Adjusted Capital in a sentence

Adjusted Net Income for each fiscal year of the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of any restructuring charges and exit-related activities as set forth in the audited consolidated statement of operations of the Company and its subsidiaries for the applicable period.
Scenario 1 Beginning Adjusted Capital = $100 Ending Adjusted Capital = $110 Average Adjusted Capital = $105 Investment Income = $2.10 Implied Yield (Investment Income / Average Adjusted Capital) = 2.00% Hurdle Rate(1) = 1.50% Base Management Fee(2) = 0.3125% Other Operating Expenses(3) = 0.20% (Implied Yield — (Base Management Fee + Other Administrative Expenses) = 1.4875% Pre-Incentive Fee Net Investment Income does not exceed the Hurdle Rate, therefore there is no Incentive Fee on Income payable.
Adjusted Net Income for each fiscal year during the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact resulting from major changes in federal or state tax laws.
Adjusted Net Income for each fiscal year during the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of new or amendments to, or changes in interpretations of existing, environmental laws, regulations or standards, on capital expenditures (including the non-capitalizable portion thereof), implementation costs thereof and any related fines and penalties.
Yes Yes Yes Yes Total Incentive Fee earned (%) — % — % — % (0.500) % Total return to founder shareholders 5.500 % 7.250 % 7.500 % 12.202 % Average Adjusted Capital for that share class in the calendar year $ 100,000,000 $ 100,000,000 $ 100,000,000 $ 100,000,000 Total Incentive Fee earned ($) $ — $ — $ — $ 500,000 Total Return to Founder Shareholders does not exceed the 7.00% preferred return rate, therefore there is no incentive fee payable for Founder Shareholders.
Beginning Adjusted Capital = $100 Ending Adjusted Capital = $110 Average Adjusted Capital = $105 Investment Income = $2.10 Implied Yield (Investment Income / Average Adjusted Capital) = 2.00% Hurdle Rate(1) = 1.50% Base Management Fee(2) = 0.3125% Other Operating Expenses(3) = 0.20% (Implied Yield (Base Management Fee + Other Administrative Expenses) = 1.4875% Pre-Incentive Fee Net Investment Income does not exceed the Hurdle Rate, therefore there is no Incentive Fee on Income payable.
Average Adjusted Capital for an applicable class is computed on the daily Adjusted Capital for such class for the actual number of days in such applicable month.
Adjusted Net Income for each fiscal year of the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of any incremental accelerated depreciation related to joint product equipment assets existing on September 1, 2021 which are made obsolete due to the Three Dimensional Separator (3DS) ASR Processing System technology investment during the Performance Period.
Adjusted Net Income for each fiscal year of the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of any incremental accelerated depreciation related to joint product equipment assets existing on September 1, 2019 which are made obsolete due to the Three Dimensional Separator (3DS) ASR Processing System technology investment during the Performance Period.
Adjusted Net Income for each fiscal year of the Performance Period and Adjusted Capital as of each quarter end used in calculating Average Adjusted Capital for any fiscal year of the Performance Period shall be adjusted to eliminate the impact of any incremental accelerated depreciation related to joint product equipment assets existing on September 1, 2020 which are made obsolete due to the Three Dimensional Separator (3DS) ASR Processing System technology investment during the Performance Period.

More Definitions of Average Adjusted Capital

Average Adjusted Capital for any six-month period shall mean the average of three (3) numbers consisting of the Adjusted Capital as of the last day of the period and as of the last day of the two preceding fiscal quarters. “Average Adjusted Capital” for any fiscal year shall mean the average of five (5) numbers consisting of the Adjusted Capital as of the last day of the fiscal year and as of the last day of the four preceding fiscal quarters. “Adjusted Capital” as of any date shall mean (i) the Company’s total assets, as adjusted in accordance with Section 2.4 below, minus (ii) the Company’s total liabilities other than debt for borrowed money and capital lease obligations, in each case as set forth in the consolidated balance sheet of the Company and its subsidiaries as of the applicable date or otherwise determined from the Company’s accounting records on a consistent basis.

Average Adjusted Capital means the five-quarter average of GAAP Stockholders Equity plus interest bearing debt less cash and plus or minus the after tax adjustments to Adjusted Net Income for the applicable fiscal year period. The “PSU Payout Percentage” shall mean the sum of 50% of the Payout Percentage for Three-Year Cumulative Revenue and 50% of the Payout Percentage for Three-Year Improvement in Adjusted ROIC. “Target Number of PSUs” means 50% of the maximum number of PSUs set forth in Section 1.