Performance Allocations. During the Term, in amounts and on terms and conditions that are consistent with TPG’s past practice as applicable to you, you will be entitled to participate in the TPG cross-platform vintage share program and will be entitled to receive investment-specific performance fees on other platforms based on your active and direct participation in such investments.
Performance Allocations. During the Term, you will be eligible to receive investment-specific performance fees on platforms based on your active and direct participation in such investments which shall be fully vested when issued. Your existing rights to receive performance allocations or promote shall remain subject to their terms, but shall not include the 20% cutback which shall not apply to you.
Performance Allocations i. So long as the Manager is manager of the Company, persons employed or otherwise contractually associated with the Manager may be designated at the Manager’s discretion to receive OC Units in PHAT (the “Performance Allocation”). A quarterly or annual Performance Allocation may be made, following commencement of the fourth (4th) year of operations, in an amount of OC Units equivalent in value to one tenth (1/10) of the quarterly or annual aggregate increase in Net Asset Value per Share as of the immediately prior quarter end or year end from the last Performance Allocation date; provided (i) that the resulting dilution does not result in a decrease in Net Asset Value per outstanding Share from the previous quarter end published Net Asset Value (the “Limiting Factor”) and (ii) for avoidance of doubt: so long as there are no distributions under Section 3, the Performance Allocation of OC Units shall never result in a decrease in the Net Asset Value per Share below the Net Asset Value per Share of the immediately preceding quarter end.
Performance Allocations. (a) Generally. Except as provided below in this paragraph and in Section 3.5(b), at the end of each fiscal year, and upon a withdrawal of capital at any time other than a fiscal year end, with respect to amounts so withdrawn, an amount equal to 20% (or such lesser or greater amount with respect to any Partner as shall be agreed by the General Partner and such Partner) of the Net Capital Appreciation allocated to such Limited Partner for the fiscal year shall be reallocated from the Capital Account of such Limited Partner to the Capital Account of the General Partner (the "Performance Allocation"). For the purpose of calculating the Performance Allocation, Net Capital Appreciation shall reflect a reduction for all Management Fees paid by the Limited Partner with respect to the fiscal year or other measurement period. The General Partner, in its sole discretion, may waive the reallocation of all or any part of the Performance Allocation with respect to any Limited Partner for any fiscal year or other measurement period.
Performance Allocations. As an incentive to maximize the per share NAV over time, the Manager may receive a grant of OC Units commencing with the fourth (4th) year of operations, as defined in the Phat Holding LLC operating agreement.
Performance Allocations
