Realization Rate definition
Realization Rate means the ratio of evaluated Gross Savings to initial pre-evaluation claimed Gross Savings. The basis for a realization rate varying from 1.0 can include several considerations such as the following: 1) adjustments for data errors, 2) differences in implemented measure counts as a result of Verification activities, and/or 3) other differences revealed through the evaluation process, such as with respect to adjustments to baseline assumptions or per unit savings estimates.
Realization Rate means a comparison of observed or measured (evaluated) information to original reported savings which is used to adjust the gross savings estimates.
Realization Rate in its simplest form means, for a particular file or matter, taking the number of hours charged to the file, multiplying each hour by the appropriate timekeeper’s usual hourly billing rate, and adding all such dollars together, and then dividing that sum into the amount ultimately collected for the file or matter. Even firms that do largely project or fixed billing, or plaintiff’s contingent fee litigation, will try to determine what their realization rate would have been on the matter, had the time expended been billed at standard hourly rates. Significant variables affecting realization rates are agreed-upon discounts (agreed to up-front before the work begins), after-the- fact discounts, also known as write-offs, the time value of money (a dollar collected on an invoice 30 days after the invoice is mailed is worth more than a dollar collected 335 days later), and the increasingly elusive “premium” billing (though not elusive to Wachtell Lipton) for outstanding results in a file or a matter meriting an amount higher than the usual hourly rates. Law firms aspire to have firm-wide realization rates as close as possible to 100%; a good overall realization rate for a large law firm would be in the low to mid 90% range.
Examples of Realization Rate in a sentence
Furnish to the Agent or cause to be --------------------- furnished to the Agent, together with the financial statements furnished by the Borrower under clauses (i) and (ii) of paragraph 5.02(c), summaries of Actual ----------------- Residual Realization Rate (as provided to the Borrower by the Servicer) and Anticipated Residual Realization Amount, as such summaries are set forth in Annex I hereto.
More Definitions of Realization Rate
Realization Rate means in connection with the sale, liquidation or other disposition of Inventory resulting from the closings of the Projected GOB Sale Stores, the percentage obtained by dividing (i) the Net GOB Sale Proceeds received in cash by the Borrower from such sale, liquidation or other disposition of such Inventory by (ii) the original cost of such Inventory determined in accordance with GAAP.