Examples of Base Return in a sentence
Further, assuming, for illustrative purposes only, that the Merger closes on June 30, 2020, Xxxxxxx expects the Base Return Amount to equal 1.5x MOIC (as defined in the Xxxxxxx Certificate of Designations), or approximately $519 million.
Although the amounts in clause (ii) and clause (iii) cannot be finally determined until the Closing Date, Xxxxxxx expects that the Base Return Amount will be the greater of the three amounts noted above, and that, accordingly, the aggregate Liquidation Preference, as calculated in accordance with Section 5 of the Xxxxxxx Certificate of Designations, will be equal to the amount that results in the holders of Xxxxxxx Preferred Stock achieving the Base Return Amount.
Nonrecourse Deductions for any Fiscal Year shall be specially allocated to the Capital Member if the Base Return has not been met, otherwise in a manner in which distributions are made pursuant to Section 4.2(a)(ii).
When Subscribers receive Base Return and invested capital, remaining funds shall be split 50-50 between the Sponsor and the Subscribers in aggregate.
Subject to available funds, the Company shall repay to Members who request to withdraw (“Withdrawing Members”) at each Exit Window their Capital Contributions, Base Return and calculated profit participation.