Incentive Collateral Management Fee means the fee payable to the Collateral Manager in arrear on each Payment Date, pursuant to the Collateral Management Agreement in an amount, as determined by the Collateral Administrator, equal to the amounts specified in the Interest Proceeds Priority of Payments and the Principal Proceeds Priority of Payments provided that such amount will only be payable to the Collateral Manager if the Incentive Collateral Management Fee IRR Threshold has been reached.
Incentive Collateral Management Fee means the fee payable to the Collateral Manager on each Payment Date pursuant to the Collateral Management Agreement, equal to 20 per cent. per annum (calculated on the basis of a 360 day year and the actual number of days elapsed in such Due Period) of the Subordinated Income provided that (after taking account of the interest to be paid to the Class F Noteholders on that Payment Date) the Class F Threshold shall have been reached.
Incentive Collateral Management Fee means, together with any value-added tax thereon and any Irish value-added tax payable by the Issuer in respect thereof, the performance related fee equal to 20 per cent. of the remaining Interest Proceeds and Principal Proceeds which in accordance with the Priorities of Payment are payable to the Collateral Manager, pursuant to Conditions 3(c)(i)(BB) and 3(c)(ii)(S), on the first Payment Date on which the Subordinated Noteholders achieve the Target IRR and in arrear on each Payment Date thereafter;
Examples of Incentive Collateral Management Fee in a sentence
Collateral Management Fee: The Collateral Manager will be entitled on eachPayment Date to receive the Collateral Management Fee which will consist of the Senior Collateral Management Fee, the Subordinated Collateral Management Fee and the Incentive Collateral Management Fee.
The Incentive Collateral Management Fee is equal to 20.0% of the Interest Proceeds and Principal Proceeds available for distribution to the Holders of Subordinated Notes under the Priority of Payments on and after the Payment Date on which the Subordinated Notes issued on the Closing Date have received an Internal Rate of Return of at least 12.0% (calculated from the Closing Date to and including such Payment Date).
Incentive Collateral Management Fee The Collateral Manager will be entitled to an Incentive CollateralManagement Fee on each Payment Date on which the Incentive Collateral Management Fee IRR Threshold has been met or surpassed, equal to 20.0 per cent.
Incentive Collateral Management FeeAfter having met or surpassed the Incentive Collateral Management Fee IRR Threshold of 12.0 per cent., 20.0 per cent.
Management Fee: The Senior Collateral Management Fee, the Subordinated Collateral Management Fee and the Incentive Collateral Management Fee.
More Definitions of Incentive Collateral Management Fee
Incentive Collateral Management Fee means (i) the fee payable to the Collateral Manager pursuant to the Collateral Management Agreement calculated in accordance with Condition 3(c)(i)(Y) (Priorities of Payment—Application of Interest Proceeds on Payment Dates) and Condition 3(c)(iii)(Z) (Priorities of Payment—Application of Principal Proceeds on Payment Dates) and (ii) any value added tax in respect thereof (whether payable to the Collateral Manager or directly to the relevant taxing authority).
Incentive Collateral Management Fee means, collectively, the Original Incentive Collateral Management Fee and the Additional Incentive Collateral Management Fee.
Incentive Collateral Management Fee means a fee equal to 20.0% of the Collateral Interest Collections available for distribution under clause (xxivxxvi) of the Interest Priority of Payments and Collateral Principal Collections available for distribution under clause [(xxxxiii)] of the Principal Priority of Payments on and after the Payment Date on which the Subordinated Notes issued on the Closing Date have received an Internal Rate of Return of 10.0% (calculated from the Closing Date to and including such Payment Date).
Incentive Collateral Management Fee means, with respect to any Payment Date, a fee equal to 20.0% of the Collateral Interest Collections available for distribution underclause (xxiv) of the Interest Priority of Payments and Collateral Principal Collections available for distribution under clause (xx) of the Principal Priority of Payments. If the initial Collateral Manager has resigned or is removed as the Collateral Manager or if the Collateral Management Agreement is terminated, the Incentive Collateral Management Fee, if any, will be payable on each Payment Date after such termination, resignation or removal to the initial Collateral Manager and each successor Collateral Manager appointed under the Collateral Management Agreement pro rata calculated based on duration of service as collateral manager for the Issuer calculated from the Closing Date to (and including) the Calculation Date for such Payment Date.
Incentive Collateral Management Fee means the fee payable to the Collateral Manager in Euro pursuant to the Collateral Management Agreement calculated in accordance with paragraph (BB)(i) of Condition 3(c)(i) and paragraph (S)(i) of Condition 3(c)(ii) (inclusive of VAT (if any) and of any other similar indirect tax, charge, impost or duty (if any));
Incentive Collateral Management Fee means a fee that will be payable to the Collateral Manager in accordance with the Indenture on each Payment Date, if and to the extent funds are available for such purpose as described under "Description of the Notes—Payments on the Notes; Priority of Distributions." Excess cashflow remaining after the payment or deposit of the amounts described under "Description of the Notes—Payments on the Notes; Priority of Distributions" will be paid: (a) if the Internal Rate of Return of the Preferred Shares as of such Payment Date is less than 13.5%, to the Issuer to be applied to fund distributions to the holders of the Preferred Shares, but only up to an amount that would cause the Internal Rate of Return of the Preferred Shares to equal 13.5% and (b) if the Internal Rate of Return of the Preferred Shares as of such Payment Date is equal to or greater than 13.5%, after giving effect to any payments made under subclause (a) above, (x) 20% of any remaining amount to the Collateral Manager in payment of the Incentive Collateral Management Fee and (y) 80% of any remaining amount to the Issuer to be applied to fund distributions to the holders of the Preferred Shares.
Incentive Collateral Management Fee shall have the meaning set forth in Section 8(b).