Performance Fee Redemption definition
Performance Fee Redemption means, with respect to any appreciation in the value of the relevant Shares from the Net Asset Value per Share at the date of subscription up to the Peak Net Asset Value per Share, the Performance Fee charged at the end of each Performance Period by redeeming at par value such number of the Shareholder’s Shares as have an aggregate Net Asset Value equal to the Relevant Percentage of any such appreciation.
Examples of Performance Fee Redemption in a sentence
For the purposes of this Appendix the following definitions apply: Share in effect immediately after the end of the last date on which a Performance Fee, other than a Performance Fee Redemption (as defined below), was accrued; when the NAV per Share is less than the Peak NAV per Share; when the NAV per Share is more than the Peak NAV per Share; Fee due.
The proceeds attributable to any Performance Fee Redemption are paid to the Investment Manager as a Performance Fee.
With respect to any appreciation of the Deficit Shares from the Equalised NAV per Share up to the then current Peak NAV per Share, the Performance Fee will be levied by conducting a Performance Fee Redemption at the end of the Accounting Period.