Refinancing Gain means an amount equal to the greater of zero and [(A – B) – C], where: A = the Net Present Value of Distributions (calculated on an after tax basis at the level of Project Co in a manner consistent with the Financial Model) immediately prior to the Refinancing (taking into account all effects (including the costs and expenses of the Authority pursuant to Section 5.8 of the Agreement) of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; B = the Net Present Value of Distributions (calculated on an after tax basis at the level of Project Co in a manner consistent with the Financial Model) projected immediately prior to the Refinancing (but taking into account only those effects of the Refinancing that were fully reflected in the Financial Model as of the Effective Date and no other effects (including the costs and expenses of the Authority pursuant to Section 5.8 of the Agreement) of the Refinancing, and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; and C = any adjustment required to raise the Pre-Refinancing Equity IRR to the Threshold Equity IRR calculated as a single payment to be paid as a Distribution on the date of the Refinancing;
Refinancing Gain means an amount equal to the greater of zero and [(A - B) - C], where: A = the Net Present Value of the Distributions projected immediately prior to the Refinancing (taking into account the effect (including the costs of and the Authority’s expenses pursuant to Section 5.8) of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; B = the Net Present Value of the Distributions projected immediately prior to the Refinancing (but without taking into account the effect (including the costs of and the Authority’s expenses pursuant to Section 5.8) of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; and C = any adjustment required to raise the Pre-Refinancing Equity IRR to the Threshold Equity IRR calculated as a single payment to be paid as a Distribution on the date of the Refinancing;
Refinancing Gain means an amount equal to the greater of zero and [(A – B) – C], where: A = the Net Present Value of the Distributions projected immediately prior to the Refinancing (taking into account the effect of the Refinancing using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made to each Relevant Person over the remaining term of this Agreement following the Refinancing; B = the Net Present Value of the Distributions projected immediately prior to the Refinancing (but without taking into account the effect of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made to each Relevant Person over the remaining term of this Agreement following the Refinancing; and C = any adjustment required to raise the Pre-Refinancing Equity IRR to the Threshold Equity IRR;
Examples of Refinancing Gain in a sentence
For federal income tax purposes, the payment to TxDOT of Refinancing Gain is allocated as set forth in Part B of Exhibit 7.
Developer also shall reimburse TxDOT’s Recoverable Costs of assessing the Refinancing Gain and TxDOT’s share thereof, if any.
More Definitions of Refinancing Gain
Refinancing Gain means in relation to any Refinancing (other than an Exempt Refinancing), an amount equal to the greater of nil and [(A - B) - C], where:
Refinancing Gain means an amount equal to the greater of zero and {(A-B)-C}, where: A = the net present value using the Base Case Post-Tax Equity IRR as the discounting rate of the distributions projected immediately prior to the refinancing (taking into account the effect of the refinancing (including any breakage costs of the existing project financing or refinancing as well as reasonable transaction costs incurred in arranging the planned refinancing) and using the Base Case Financial Model as updated (including as to the performance of the Section up to the date of the refinancing) so as to be current immediately prior to the refinancing) to be made over the remaining term of the Section P3 Agreement following the refinancing; B = the net present value using the Base Case Post-Tax Equity IRR as the discounting rate of the distributions projected immediately prior to the refinancing (but without taking into account the effect of the refinancing and using the Base Case Financial Model as updated (including as to the performance of the Section up to the date of the refinancing) so as to be current immediately prior to the refinancing) to be made over the remaining term of the Section P3 Agreement following the refinancing; and C = any adjustment required to raise the pre-refinancing Post-Tax Equity IRR to the Base Case Post-Tax Equity IRR (if the pre-refinancing Post-Tax Equity IRR is lower than the Base Case Post-Tax Equity IRR, the adjustment is calculated as the amount that, if received by equity members at the estimated date of the refinancing, would increase the pre-refinancing Post- Tax Equity IRR to be the same as the Base Case Post-Tax Equity IRR).
Refinancing Gain means an amount equal to the greater of zero and {(A-B)-C}, where: A = the net present value using the Base Case Equity IRR as the discounting rate of the Distributions projected immediately prior to the Refinancing (taking into account the effect of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; B = the net present value using the Base Case Equity IRR as the discounting rate of the Distributions projected immediately prior to the Refinancing (but without taking into account the effect of the Refinancing and using the Financial Model as updated (including as to the performance of the Project) so as to be current immediately prior to the Refinancing) to be made over the remaining term of this Agreement following the Refinancing; and C = any adjustment required to raise the Pre-Refinancing Equity IRR to the Base Case Equity IRR.
Refinancing Gain means, in respect of any event set out in paragraphs (a) to (e) of the definition of Refinancing:
Refinancing Gain means an amount equal to the greater of zero and [(A - B) – C], where:
Refinancing Gain means an amount equal to the greater of zero and (A - B), where: A = the net present value, discounted at a discount rate equal to the Base Case Equity IRR, of all Distributions as projected immediately prior to the Refinancing (using the Refinancing Financial Model and taking into account the effect of the Refinancing) to be made over the remaining term of this Project Agreement following the Refinancing. B = the net present value, discounted at a discount rate equal to the Base Case Equity IRR, of all Distributions as projected immediately prior to the Refinancing (using the Refinancing Financial Model but without taking into account the effect of the Refinancing) to be made over the remaining term of this Project Agreement following the Refinancing.
Refinancing Gain means an amount equal to the greater of zero and [(A - B) - C], where: