Net Carry definition

Net Carry with respect to any Fund, means the aggregate carry for such Fund less the share of the carry allocated or reserved for allocation to the managers of such Fund, subject in each case to the “clawback” obligations, if any, to return some or all of the carried interest distributions in accordance with the agreement governing such Fund.

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Net Carry means, with respect to each Capital Security at any time, (a) the Carry Yield accrued on such Capital Security during the Carry Period therefor minus (b) the sum of (i) Financing Cost with respect to such Capital Security, (ii) any Hedging Cost Adjustment (if such Capital Security has a fixed rate coupon and is subject to a Hedging Agreement) and (iii) accrued interest, if any, purchased by Bear ▇▇▇▇▇▇▇ on the settlement date on which Bear ▇▇▇▇▇▇▇ acquired such Capital Security.

Net Carry. (which may be a negative number) means (i) Gross Carry minus (ii) the M▇▇▇▇▇▇ L▇▇▇▇ Reimbursement Amount minus (iii) the Manager Reimbursement Amount. If this letter agreement terminates prior to the Closing Date, the Collateral shall be sold or liquidated by M▇▇▇▇▇▇ L▇▇▇▇ at the respective Market Prices (as defined below) for each item of Collateral; provided, however, the Manager shall have a right of first refusal to purchase all or any portion of the Collateral 56 at the respective Market Prices of such Collateral. The Manager must give M▇▇▇▇▇▇ L▇▇▇▇ notice that it wishes to exercise such right within 5 business days of the termination of this letter agreement.

Examples of Net Carry in a sentence

If the hedge position on a Mortgage Loan during the period that is included in the Program results in a gain that is not otherwise recognized as positive Net Carry pursuant to Section 6.
Upon the occurrence of the Termination Date and, in any event, following CFPI’s receipt thereof, CFPI shall pay to the Collateral Manager all Net Carry not generated from Portfolio Obligations related to Block Trades.
If no Notes are issued, the Manager and M▇▇▇▇▇▇ L▇▇▇▇ agree to ratably share in any negative Net Carry (as defined below), or in any positive Net Carry remaining after payment of the Origination Fee as described below, based in each case upon the Share Ratio, except upon a breach of this letter agreement by either M▇▇▇▇▇▇ L▇▇▇▇ or the Manager as provided below.
Upon the occurrence of the Termination Date (other than as a result of the occurrence of the Closing Date) and subject to Section 8 below, CFPI shall retain all Net Carry generated from Portfolio Obligations related to Block Trades.
In the event that the Portfolio Market Value is less than 97.5% of the aggregate principal balance thereof, Net Carry remittances will be retained by CRE until settlement of the related Securitization.

More Definitions of Net Carry

Net Carry. As defined in Section 5.03.

Net Carry means an amount equal to the greater of (i) zero and (ii) (w) all Interest Proceeds paid or accrued on the Portfolio Obligations during the Warehousing Period, plus (x) all Realized Gains, minus (y) all Realized Losses, minus (z) the Funding Cost payable to CFPI.

Net Carry for a calendar month means interest at the Net Carry Rate.