Look Through Basis definition
Look Through Basis means a technique adopted by certain CVI Business Units to assess their overall profitability to CVI exclusive of the effects of transfer pricing between CVI Business Units.
Look Through Basis means (i) the aggregate number of NFC Shares held by such Person (and, where such Person is a natural Person, his Immediate Family Members), and (ii) the sum of (x) the number of NFC Shares of each Immediate Subsidiary of such Person on a Look-through Basis, multiplied by (y) the percentage of the Equity Securities in such Immediate Subsidiary that are held by such Person. For purposes hereof, an Equity Security is deemed to be “held” by a Person, and such Person “holds” such Equity Security, if (i) it is recorded in the name of such Person and such Person has not Transferred such Equity Security, or (ii) where such Person is a natural Person, if it is recorded in the name of any of his Relevant Holders, and such Relevant Holder has not Transferred such Equity Security.
Look Through Basis. Means, for purposes of calculating the direct or indirect percentage ownership of any holder of Common Units on a look-through basis, such holder will be deemed to own the sum of (a) the Common Units held by such holder directly in the Company and (b) a percentage of any Common Units held by any Feeder Vehicle in which such holder is a Feeder Partner determined by dividing the unreturned capital contributions of such holder in such Feeder Vehicle by the unreturned capital contributions of all Feeder Partners in such Feeder Vehicle. The sum of the Common Units in clause (a) and (b) above will be compared to the total number of Common Units of the Company outstanding as of the calculation date to determine such holder’s direct or indirect percentage ownership of Common Units on a look-through basis.