IRR Lookback Payment definition
IRR Lookback Payment means a payment in an amount which brings the annualized internal rate of return on the Loan to 25%, as determined by Lender (i.e. if Lender loans Borrower $1,000,000 interest-only paid on a monthly basis for a term of two years at a 12% annual interest rate, then the Borrower must pay Lender, in addition to a $1,000,000 balloon payment at the end of two years, a 25% IRR Lookback Payment in the amount of $333,000).
IRR Lookback Payment has the meaning set forth in the Second Mezzanine Loan Agreement.
Examples of IRR Lookback Payment in a sentence
Prior to the satisfaction of the Loan, Borrower shall be required to pay to Lender the IRR Lookback Payment.