Flip Date definition

Flip Date means the last day of the calendar month in which Class B Member achieves an Internal Rate of Return equal to or greater than the Target IRR.

Flip Date means the later of (a) the date that is five (5) full years after the last date a Project owned by the Company is Placed in Service and (b) the last day of the calendar month in which the Class A Member achieves an Internal Rate of Return equal to or greater than the Target Internal Rate of Return.

Flip Date is defined in the LLC Agreement.

Examples of Flip Date in a sentence

• Notes in respect of which “Floating to Fixed Coupon” is specified in the relevant Final Terms to be applicable bear interest at a rate that switches automatically from the Floating Rate of Interest to the Fixed Rate of Interest on the Coupon Flip Date.

• Notes in respect of which “Fixed to Floating Coupon” is specified in the relevant Final Terms to be applicable bear interest at a rate that switches automatically from the Fixed Rate of Interest to the Floating Rate of Interest on the Coupon Flip Date.

• Securities in respect of which “Floating to Fixed Coupon” is specified in the relevant Issue Terms to be applicable bear interest at a rate that switches automatically from the Floating Rate of Interest to the Fixed Rate of Interest on the Coupon Flip Date.

• In the opposite direction, the revenue requirements under Steps 2 and 3 are roughly consistent with PPA prices signed several years ago.• Flip Date: Although the base-case assumption is for the flip in allocations to occur at the end of the project’s eighteenth year, earlier flip dates are quite possible – conceivably as early as the end of the sixth year (by which time most of the project’s tax benefits have run their course).

• Securities in respect of which “Fixed to Floating Coupon” is specified in the relevant Issue Terms to be applicable bear interest at a rate that switches automatically from the Fixed Rate of Interest to the Floating Rate of Interest on the Coupon Flip Date.

More Definitions of Flip Date

Flip Date means the date after which the proportion of Distributable Cash distributable to the applicable Tax Equity Investor Member in a Partnership Flip Project Company is reduced pursuant to the related Partnership Flip Project Company LLCA.

Flip Date means, with respect to a Financing Fund, the date on which the percentage of Distributable Cash allocated to the related Tax Equity Investor Member is reduced in accordance with the terms of the related Financing Fund LLC Agreement.

Flip Date means the last day of the month in which Purchasers achieve an Internal Rate of Return equal to or greater than the Target IRR.

Flip Date is the day on which the Calculated Amount equals zero.

Flip Date means the end of the last day of the month in which the Flip Point occurs.

Flip Date means the date that is the earlier of (a) March 31, 2021 and (b) the date on which (x) the Initial Appraisal and (y) the Initial Field Exam are delivered to the Agent; provided that the Flip Date may not occur unless the Initial Appraisal has been completed and delivered to the Agent.

Flip Date means [●], 2030.3