Project IRR definition

Project IRR means the rate of return that causes the net present value of all Project cash flows to be equal to zero. For this purpose, “Project cash flows” means, with respect to any period, the amount equal to (a) all Project revenues received by Developer during such period minus (b) the sum of the following (without duplication): (i) all operating expenses paid during such period (excluding those operating expenses that are paid directly under the Master Lockbox and Custodial Account Agreement, such as Transaction Fees paid to TxDOT, to the extent such amounts are not included in the Project revenues received by Developer), (ii) all major, non-routine maintenance costs (excluding those costs funded by the Handback Requirements Reserve or Handback Requirements Letter of Credit), (iii) the amount deposited in the Handback Requirements Reserve during such period, (iv) all Construction Costs and all capital expenditures paid during such period and (v) all Revenue Payment Amounts, Tolling Method Gain amounts and Refinancing Gain amounts paid to TxDOT during such period.

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Project IRR means, with respect to any Capital Project, the Proposing Member’s good faith estimate of the projected unlevered, pre-tax internal rate of return to the Company (calculated using the “XIRR” function of Microsoft Excel® (using the midyear convention) or, if Microsoft Excel® is no longer supported by Microsoft Corporation, by a similar function to which the Members reasonably agree) based on the Estimated Capital Project Revenues and Estimated Capital Project Costs for such Capital Project.

Project IRR means the rate of return that when used to discount pre taxation and pre financing construction and operating period cash inflows and cash outflows results in a net present value of zero.

Examples of Project IRR in a sentence

• The compensation that the Concessionaire is entitled to receive for undertaking a Variation shall be determined with the object of ensuring that such Variation shall not negatively affect the Project IRR that the Concessionaire would otherwise have received but for such Variation.

• Thereupon, the Parties shall, in good faith, negotiate and agree upon suitable changes in the terms of this Agreement including extension of the Concession Period, so as to place the Concessionaire in substantially the same legal and financial position as it were prior to such Change in Law i.e. Projecting Project IRR as per Finance Plan.

• The Financial Model will then be re-run and revised Project IRR percentage produced will become the "TPI Adjusted Base Case Project IRR" for the purpose of assessing “no better, no worse” in accordance with paragraph 5.3.1 above.

• Where prior to the occurrence of a Relevant Event, the Contractor has been generating levels of Third Party Income below those anticipated in the Base Case, the TPI Adjusted Base Case Project IRR shall be calculated by updating the Base Case to reflect the TPI Average in accordance with paragraph 6.6 above.

• For the avoidance of doubt, for purposes of Exhibit B, the Centerpointe New Equity and distributions relating thereto will at all times be included and used to calculate "Contributions of the Investor," "Distributions to the Investor," the "Company IRR Deficiency," the "Project IRR Deficiency" or the "IRR Deficiency" as well as "Investor Unreturned Capital," subject to Section 6.02(e)(ii)(a), and preferred return on Investor Unreturned Capital.

More Definitions of Project IRR

Project IRR means the internal rate of return of the Project, before tax, as evaluated using the Reference Tariff Model.

Project IRR means [REDACTED]% being the real pre-tax pre-financing project internal rate of return;

Project IRR means the internal rate of return of the Project determined in accordance with the relevant algorithms contained in the Financial Model;

Project IRR has the meaning set out in Clause 6.1.7.

Project IRR means [REDACTED]% being the real pre-tax pre-financing project internal rate of return; Project Roads means the roads on which Works are required hereunder, being all of those roads listed in the table set out in Schedule 19; Protester means any person or persons engaged in Protester Action;

Project IRR means the internal post-tax, real forecast project cash flow rate of return for the relevant Qualifying Project;

Project IRR means the internal-post-tax, real forecast project cash flow rate of return;