Average Gross Assets definition
Average Gross Assets means the arithmetic average of the Company’s Gross Asset Value as of the last day of (1) a calendar month and (2) the immediately preceding calendar month. For purposes of this Agreement, “Gross Asset Value” means, with respect to any date, the sum of the values of all of the Company’s assets (excluding cash) as used in determining net asset value pursuant to the Company’s valuation policy as of such date.
Average Gross Assets means the average of the year-end prior year and year-end current year:
Average Gross Assets means the average of the year-end prior year and year-end current year: Total assets; plus Accumulated Depreciation of Property & Equipment “Managed & Franchised Adjusted EBITDA” means, with respect to each fiscal year in the Performance Period, the sum of Adjusted EBITDA for the three management and franchising segments (Americas + ASPAC + EAME/SWAsia).“Peer Group Companies” means, for the Performance Period, Hilton Hotels Corporation, Marriott International, Inc., InterContinental Hotels Group PLC, Host Hotels & Resorts, Inc., Sunstone Hotel Investors, Inc., and Park Hotels & Resorts Inc.“Performance Goals” means (1) Adjusted ROGA Performance, (2) Managed and Franchised EBITDA Performance, and (3) Relative TSR Rank.“Relative TSR Rank” means, the rank order (including Hyatt) of the 20-trading day average stock price prior to the beginning of the Performance Period, compared with last 20-trading day average, with dividends re-invested of each Peer Group Company over the Performance Period.
Examples of Average Gross Assets in a sentence
The Management Fee shall be 1.50% per annum of Average Gross Assets.
The Base Management Fee shall be calculated at an annual rate of 0.50% of the Company’s Average Gross Assets.
The Base Management Fee shall be calculated at an annual rate of 1.50% of the Average Gross Assets; provided, that, the Base Management Fee shall be calculated at an annual rate of 1.00% of the Company’s gross assets purchased with borrowed funds above 1.0x debt-to-equity.
Average Gross Assets – shall have the meaning ascribed to such term in Section 3(a) of the Management Agreement and shall be calculated consistently with such definition.
More Definitions of Average Gross Assets
Average Gross Assets means for any period the average of the Gross Assets at the end of the immediately preceding fiscal year and at the end of each fiscal quarter (including the fourth fiscal quarter) ending on or prior to the date of such determination. Average Gross Assets shall be calculated at the end of each fiscal year and at the end of each fiscal quarter in such fiscal year during the Performance Period.
Average Gross Assets means the average of the year-end prior year and year-end current year: Total assets; plus Accumulated Depreciation of Property & Equipment “Relative EBITDA Growth Rank” means, the rank order (including Hyatt) of cumulative growth of EBITDA figures (earnings before interest, taxes, depreciation, and amortization), to the extent publicly reported prior to the Determination Date, from each of the following: Accor, Hilton, Host, Intercontinental, and ▇▇▇▇▇▇▇▇ over the performance period.The attainment of performance metrics under this agreement shall be determined by the Committee in accordance with GAAP (Generally Accepted Accounting Principles), as in effect on the Grant Date and without regard to any changes in GAAP accounting that may occur subsequent thereto.
Average Gross Assets shall have the meaning ascribed to such term in Section 3(a) of the Management Agreement and shall be calculated consistently with such definition.