Net Promote definition

Net Promote means, (i) with respect to Existing Hedge Fund AUM for the applicable Fiscal Year, the gross Promote that is paid to Fortress with respect to such Existing Hedge Fund AUM in respect of such Fiscal Year less any payments to third parties and employees under profit-sharing arrangements (i.e., EWYK or DCP deals) and (ii) with respect to a particular PE Fund or PCV for the applicable Fiscal Year, the gross Promote or similar amount (such as an equity interest) that is paid to Fortress by the applicable PE Fund or PCV in respect of such Fiscal Year less any payments of such Promote or similar amount that is calculated by reference to such Promote or similar amount to third parties, employees and partners.
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Examples of Net Promote in a sentence

  • The Executive shall be eligible to receive a performance-based retention bonus under the Company's 2003 EPIP in the amount of $1,820,000 to be paid (if earned) in installments from, and to the extent of, any Net Promote Proceeds (as defined below) within a reasonable time after such Net Promote Proceeds are received by the Company from time to time until the $1,820,000 is paid (if earned) (the "EPIP Retention Bonus").

  • The Company agrees to pay to ▇▇▇▇▇▇▇▇ a contingent bonus of $500,000, payable in installments from, and to the extent of, any Net Promote Proceeds (as defined below) within a reasonable time after such Net Promote Proceeds are received by the Company from time to time.

  • The Net Promote Proceeds shall not include any return the Company earns on any actual investment by the Company in the Opportunity Partnerships nor any fees received by the Company in respect of acquisition or asset management services.