Average Capital definition

Average Capital means the numerical average for a given year of ending Capital for the five most recently completed fiscal quarters, including the last quarter of that year.

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Average Capital means the sum of the Company’s capital at the end of each month during a Plan Year divided by 12.

Average Capital means the sum of the Company’s capital at the end of each month during a fiscal year divided by 12.

Examples of Average Capital in a sentence

• Also for this purpose, the Adjusted Net Income for any partial fiscal year shall be annualized and the Average Capital Employed shall be determined based on the average of Capital Employed as of the last day of only those quarters that have been completed, before determining ROCE for that partial fiscal year, and the Average ROCE shall be determined by averaging however many full and partial fiscal years for which an ROCE percentage shall have been determined.

• The Performance Goals for this Performance Stock Award are: Return on Average Capital Employed (“ROACE”) and Average Annual Revenue Growth (“Revenue Growth”), with each having a 50% weight.

• For purposes of making future allocations under subparagraph 1(b)(ii) of Exhibit B, the portion of the Capital Account balance of the applicable holder of Class B Units that is treated as attributable to his, her or its Class B Units shall be reduced, as of the date of conversion, by the product of the number of Class B Units converted and the Average Capital Account Balance.

• At such time as the Capital Account attributable to a Class B Unit is equal to the Average Capital Account Balance, such Class B Unit shall automatically convert into one Class A Unit (subject to appropriate adjustment in the event of any dividend, split, combination or other similar recapitalization with respect to the Class A Units).

• Portfolio outperformance is the amount by which the Portfolio’s Rate of Return exceeds the Benchmark rate, multiplied by the Portfolio’s Average Capital Base over the Half Year.

• At such time as the Capital Account attributable to a Class B Unit is equal to the Average Capital Account Balance (the “Conversion Date”), such Class B Unit shall automatically convert into one Class A Unit (subject to appropriate adjustment in the event of any dividend, split, combination or other similar recapitalization with respect to the Class A Units).

• The Performance Goals for this Performance Stock Award are: Return on Average Capital Employed ("ROACE") and Average Annual Revenue Growth ("Revenue Growth"), with each having a 50% weight.

• The “ROCE” for any fiscal year shall be equal to the Company’s Adjusted Net Income for that fiscal year divided by the Company’s Average Capital Employed for that fiscal year.

• The Performance Goals for this Performance Stock Award are Return on Average Capital Employed (“ROACE”) and Change in Economic Profit (as specified in further detail below), with each having an equal 50% weight.

• The Performance Goals for this Performance Stock Award are: Return on Average Capital Employed (“ROACE”), Average Annual Revenue Growth (“Revenue Growth”), and Modine Asia Operating Income Improvement (“Asia Improvement”) (as specified in further detail below), with ROACE and Revenue Growth each having a 37.5% weight and Asia Improvement having a 25% weight.

More Definitions of Average Capital

Average Capital means the average of the Invested Capital (as defined below) for the Measuring Period and shall be calculated as the quotient of (x) the sum of Invested Capital at the beginning of the first year of the Measuring Period, plus the Invested Capital at the end of each of the first, second and third years of the Measuring Period, divided by (y) four; provided that in the case of an early award pursuant to Section 5, Average Capital shall be calculated as the quotient of (x) the sum of Invested Capital at the beginning of the first year of the Measuring Period, plus the Invested Capital at the end of each of the completed fiscal years of the Measuring Period plus at the end of the Measuring Period (i.e., the end of the applicable fiscal quarter), divided by (y) the applicable period number (for example, 3, in the case of a Measuring Period consisting of one year and three quarters). See the exhibit attached to this Agreement and labeled “Performance Share Agreement Exhibit” for example calculations of Average Capital.

Average Capital means the sum of the Company’s capital at the end of each month during a Plan Year divided by 12. “Board” means the Board of Directors of the Company.

Average Capital means the sum of the Company’s capital, determined in accordance with the Manual, at the end of each month during the Year divided by 12.

Average Capital. , in respect of a month, means the sum of the average net capital, the land value and the working capital allowance for the month.

Average Capital means, in respect of a financial year, the amount produced by halving the aggregate of the amounts in items 12 and 17 in Part I (or, as the case may be, items 13 and 18 in Part II) of Schedule 2 above for that and the previous financial year.

Average Capital means, for the relevant fiscal year, the average of invested capital (stockholders' equity plus long-term debt, including long-term debt classified as short-term), determined by dividing (a) thirteen into (b) the sum of (i) the invested capital balance at month end for each of the 12 months of the relevant fiscal year and (ii) the month end balance of invested capital for the month immediately preceding such fiscal year.