Flip Rate definition

Flip Rate has the meaning given in the LLC Agreement.
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Flip Rate means an Internal Rate of Return of *** % per annum from the Initial Equity Capital Contribution Date; provided, under the Contribution Agreement, such percentage shall be increased or decreased on the date which is two (2) Business Days prior to the Initial Equity Capital Contribution Date (the “Flip Rate Determination Date”) by *** basis point for each basis point increase or decrease, respectively, in the 10-year U.S. Dollar fixed interest rate swap (vs. 90-day LIBOR) as determined by the Bloomberg Screen IRSB18 (“Ask Rate”) closing value (currency identifier “USSW10”), or any replacement successor screen (the “Yield Rate”), in effect at 11:00am New York time on the Flip Rate Determination Date, as compared to such Yield Rate in effect at the closing of business on April 10, 2006, which was 5.50%.
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Examples of Flip Rate in a sentence

  • On the Distribution Date immediately following the calculation becoming final, the sharing percentages set forth in Sections 5.01(a)(ii) and 5.02(c) shall be adjusted to the maximum extent necessary (subject to the limit that the aggregate sharing percentages for the Class A Members shall not be less than five percent (5.00%)) so as to correct, on a present value basis calculated at the Flip Rate, the Cash Difference.

  • In any case in which Tax Costs or Tax Benefits are deemed to be received after the Distribution Date or Liquidation Date, in calculating the present value of such items, the Flip Rate shall be applied for the period between the Distribution Date or Liquidation Date, as the case may be, and the Tax Payment Date.

  • In the event that a Trigger Event (as defined in the Project Agreement) has occurred that results in an adjustment to the Flip Rate (pursuant to the definition thereof in the Project Agreement), then Seller shall pay as a purchase price adjustment payment to Purchaser the Specified Amount.

  • Such change in sharing percentages shall remain in effect until, and to the extent necessary so that, the difference between the Flip Rate and actual Internal Rates of Return shall have been eliminated.

  • In the event that the Guarantor makes a payment to the Beneficiaries hereunder and it is later determined that the Flip Point has occurred, or the Internal Rate of Return of the Beneficiaries exceeded the Flip Rate as a result of such payment, the Beneficiaries shall return to the Guarantor the portion of such payment which exceeded the amount necessary to achieve the Flip Rate and cause the Flip Point to occur.

  • Seller shall pay the Specified Amount to Purchaser promptly upon notice to Seller that such Trigger Event has occurred, which notice shall (1) not be given prior to the Trigger Event Flip Rate having been determined under the Project Agreement and (2) include the calculation of the Pay Down Amount together with reasonably detailed supporting information.

  • In the event that the Guarantor makes a payment to the Beneficiary hereunder and it is later determined that the Flip Point has occurred, or the Internal Rate of Return of the Beneficiary exceeded the Flip Rate as a result of such payment, the Beneficiary shall return to the Guarantor the portion of such payment which exceeded the amount necessary to achieve the Flip Rate and cause the Flip Point to occur.