Second Performance Hurdle definition

Second Performance Hurdle means that Sponsor shall have received cash proceeds in respect of its shares of Common Stock held from time to time by Sponsor in an amount that equals $500,000,000 more than Sponsor’s cumulative invested capital in respect of its shares of Common Stock (which amount shall be deemed to be $75,000,000, plus any amounts invested after November 16, 2012 and through such date of determination).
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Second Performance Hurdle means the Common Stock achieving an average closing stock price of at least $13.00 per share over 60 consecutive trading days on an Exchange.
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Second Performance Hurdle means the receipt by Vestar of cash distributions that results in a multiple of investment that is equal to three times Vestar’s total Capital Contributions.
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Examples of Second Performance Hurdle in a sentence

  • Satisfaction of the First Performance Hurdle, the Second Performance Hurdle and the Third Performance Hurdle• An additional, and final, one third of the Initial Holding will Vest with effect from the end of the Third Period (or, if the Third Performance Hurdle is met within 36 months of the Adoption Date, from the end of such 36 month period);• The Growth Share Amount applicable to such Vested B Ordinary Shares will be 3.33% of the Realisation Price less £5.1 million.


More Definitions of Second Performance Hurdle

Second Performance Hurdle means, that the Holdings Unitholders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 221% of the aggregate Capital Contributions of such Unitholders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 242% of the aggregate Capital Contributions of such Unitholders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 263% of the aggregate Capital Contributions of such Unitholders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 284% of the aggregate Capital Contributions of such Unitholders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 305% of the aggregate Capital Contributions of such Unitholders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to an amount that would produce a Holdings IRR equal to or in excess of 25%.
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Second Performance Hurdle means that the Target Holders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 200% of the aggregate Capital Contributions of Target Holders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 225% of the aggregate Capital Contributions of Target Holders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 250% of the aggregate Capital Contributions of Target Holders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 275% of the aggregate Capital Contributions of Target Holders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 305% of the aggregate Capital Contributions of Target Holders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to an amount that would produce a Target Holders’ IRR equal to or in excess of 25%; it being understood that the terms contained in clauses (i) through (vi) of this definition shall remain constant and in effect throughout the periods indicated.
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Second Performance Hurdle means that the Target Holders shall have received (i) aggregate distributions and proceeds (including proceeds of a sale of Units) with respect to their Class A Units and Class B Units, collectively, equal to 400% of the aggregate Capital Contributions of the Target Holders in respect of their Class A Units and Class B Units and (ii) aggregate distributions and proceeds (including proceeds of a sale of Units) with respect to their Class A Units and Class B Units, collectively, equal to an amount that would produce a Target Holders’ IRR equal to or in excess of 17%.
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Second Performance Hurdle means that the Target Holders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 200% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 225% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 250% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 275% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 305% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to an amount that would produce a Target Holders' IRR equal to or in excess of 25%; it being understood that the terms contained in clauses (i) through (vi) of this definition shall remain constant and in effect throughout the periods indicated.
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Second Performance Hurdle means the Common Stock achieving an average closing stock price of at least $8.00 per share over 60 consecutive trading days on an Exchange.
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Second Performance Hurdle means that the Target Holders shall have received (i) aggregate distributions and proceeds (including proceeds of a sale of Units) with respect to their Class A Units and Class B Units, collectively, equal to 400% of the aggregate Capital Contributions of the Target Holders and (ii) aggregate distributions and proceeds (including proceeds of a sale of Units) with respect to their Class A Units and Class B Units, collectively, equal to an amount that would produce a Target Holders' IRR equal to or in excess of 17%.
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Related to Second Performance Hurdle

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Total Performance means that the entire Work, except those items arising from the provisions of any warranty, have been performed in accordance with the Contract;

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Basket Performance means a decimal number calculated by applying the following formula: BP = ∑ W ×iX ⎛⎜⎜i=1 ⎝ Underlyingi,FINAL ⎞⎟⎠Underlyingi,INITIAL ⎟ where: BP = Basket Performance X = 8 Wi = Weighting of the relevant Underlying Underlying i,FINAL Underlying i,INITIAL= Arithmetic mean of the Reference Prices of the relevant Underlying with respect to all Averaging Dates = Initial Price of the relevant Underlying

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Condition means a condition related to performance which is specified by the Committee under Rule 4.1 (Terms of grant);

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Performance Date means December 31, 2025. If the Locality, in consultation with VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, on or before the Performance Date the Locality may request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Company and the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Qualified Performance-Based Compensation means any compensation that is intended to qualify as “qualified performance-based compensation” as described in Section 162(m)(4)(C) of the Code.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.

  • Non-Performance Charge means the charge applicable to Capacity Performance Resources as defined in Tariff, Attachment DD, section 10A(e). Nonincumbent Developer:

  • Performance Conditions means specific levels of performance of the Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis, including, without limitation, the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital), which may be but are not required to be measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures and total stockholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv) objective measures of customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value; (xviii) sales; (xix) stockholder return; (xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects (including, but not limited to, succession and hiring projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and meeting divisional or project budgets); (xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book value; (xxvii) strategic objectives; (xxviii) gross or net authorizations; (xxix) backlog; or (xxx) any combination of the foregoing. Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an absolute or relative basis to measure the performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more members of the Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices.

  • Index Performance means, in relation to an Index and an Auto-Call Valuation Date or the Valuation Date, as the case may be, a percentage calculated by the Calculation Agent in respect of such date in accordance with the following formula: Index Performance =Final Index Level × 100% Initial Index Level

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.