PLE Consideration definition
PLE Consideration means the quotient of (I) (i) 0.0521% multiplied by (ii) an amount equal to (A) the Total Formation Transaction Value less (B) the Special Investment Amount, divided by(II) the IPO Price. The "Special Investment Amount" means the sum of (i) 100% of the aggregate amount, during the period commencing on July 1, 2005 and ending on the Closing Date (defined below) of (x) Capital Contributions (as defined in the Restated Agreement of Limited Partnership of ▇▇▇▇ 2005 dated as of March 10, 2005, as amended) (the "▇▇▇▇ 2005 Partnership Agreement") made to ▇▇▇▇ 2005 by its partners and (y) Capital Contributions (as defined in the Limited Liability Company Agreement of DEGA, LLC, a Delaware limited liability company, dated as of January 3, 2005) made by HBRCT LLC, a Hawaii limited liability company ("HBRCT"), if any (such capital contributions by the ▇▇▇▇ 2005 partners and HBRCT, if any, are collectively referred to as the "Additional Contributions"), plus (ii) a return on such Additional Contributions at an annualized rate of ten percent (10%) for the period commencing on the date on which each such Additional Contribution is made and ending on the Closing Date (for purposes of calculating the return, a capital contribution shall be deemed made on the date due, or if made after the due date, on the date received), plus (iii) the $60,000,000 contributed to DERA on March 15, 2006 less the amount of any Additional Contributions made by DERA to ▇▇▇▇ 2005 after such date.
Examples of PLE Consideration in a sentence
The issuance of the PLE Consideration shall be evidenced by an amendment to the Operating Partnership Agreement (defined below).
As soon as practicable following the determination of the IPO Price and prior to the Closing, all calculations relating to the PLE Consideration shall be performed in good faith by, or under the direction of, the Operating Partnership and shall be final and binding upon the Contributors.