Examples of IRR Amount in a sentence
Default, in the payment when due of the principal of the Loans or of any interest, fee, or other amount payable hereunder, including any Applicable IRR Amount or any Assigned Interests Payment, by any Loan Party, or any default in any payment of any amount due under any other Loan Document, shall occur.
The Loans shall be Paid in Full on the Maturity Date by and upon payment in full of the Applicable IRR Amount.
The Borrower may, on at least three (3) Business Days’ prior written notice to the Agent, not later than 12:00 noon New York City time on such day, prepay the Loans in full, provided that the amount so prepaid as of the date of prepayment is equal to the Applicable IRR Amount.
The parties hereto agree that the amounts payable hereunder in respect of the Applicable IRR Amount are a reasonable calculation of the parties’ expected return to the Lender arising out of the transactions described herein, and, in the case of a prepayment of the Loans, foregone returns, and agree that the payment of such amounts constitute consideration pursuant to this Agreement that the parties agree is fair and reasonable.
If a performance fee has been paid following one or more Sale Events, but the calculation of a performance fee upon a Wind Up Event or a Removal Event does not result in a positive amount, then the Manager will not be paid a performance fee and must also account to the Fund for the amount by which the Target IRR Amount exceeds the Return or Deemed Return (Overpayment Amount).