Net Depreciation definition
Net Depreciation. Net Depreciation means the excess, if any, of the beginning net asset value of the Managed Account assets as of the first day of the applicable Calculation Period over the ending net asset value of the Managed Account assets as of the last day of the applicable Calculation Period. The beginning net asset value will be increased to reflect any additional assets placed with the Manager during the applicable Calculation Period or reduced to reflect any assets withdrawn from the Manager during the applicable Calculation Period. Net Depreciation is a USD amount. Net Depreciation shall be calculated separately for each Managed Account that falls under this Schedule I-C.
Net Depreciation. Net Depreciation means the excess, if any, of the beginning net asset value of the Managed Account assets as of the first day of the applicable Calculation Period over the ending net asset value of the Managed Account assets as of the last day of the applicable Calculation Period. The beginning net asset value will be increased to reflect any additional assets placed with the Manager during the applicable Calculation Period or reduced to reflect any assets withdrawn from the Manager during the applicable Calculation Period. Net Depreciation is a USD amount. Net Depreciation shall be calculated separately for each Managed Account that falls under this Schedule I-C. Incentive: For each Calculation Period, the Incentive is equal to 20% * (Net Appreciation or Net Depreciation – Investment Management Fee – Hurdle). Incentive is a USD amount and may result in a positive or negative product. The Incentive shall be calculated separately for each Managed Account that falls under this Schedule I-C.
Net Depreciation means the excess, if any, of the beginning net asset value of the Sub- Account I, Sub-Account II, or Sub- Account IV Managed Assets, respectively, as of the first day of the applicable Calculation Period over the ending net asset value of the Sub- Account I, Sub-Account II, or Sub- Account IV Managed Assets, respectively, as of the last day of the applicable Calculation Period. The beginning net asset value will be increased to reflect any additional assets placed with the Manager during the applicable Calculation Period or reduced to reflect any assets withdrawn from the Manager during the applicable Calculation Period.
Examples of Net Depreciation in a sentence
For a given Calculation Period, if there is Net Depreciation of the Managed Assets, the Loss Recovery Account will be increased by an amount equal to the Net Depreciation.
If there is Net Depreciation during the Calculation Period, the Performance Based Fee will be zero.
Net Depreciation means depreciation expense during such period determined on a consolidated basis in accordance with GAAP, less $500,000 for capital expenditures.
More Definitions of Net Depreciation
Net Depreciation means an amount, determined in accordance with GAAP, equal to (a) 80% of the depreciation expense with respect to the Rolling Stock for a fiscal period, less (b) the sum of (i) 30% of the cash capital expenditures during such fiscal period for the purchase of new replacement engines included in Eligible Rolling Stock and (ii) 60% of the cash capital expenditures during such fiscal period for the purchase of remanufacturing rigs, in the case of each of clause (i) and (ii), in amounts consistent with the Borrowers' historical practices."
Net Depreciation see Section 5.1.