Calculation of IRR. Within forty-five (45) days after the expiration of the eighth full calendar Quarter occurring after the Initial Closing and forty-five (45) days after the expiration of each subsequent Quarter during the Term of the Conveyance Agreement with respect to the Navy, and until the Cash Flow Distribution Termination Date with respect to Authority, Developer shall submit a reasonably detailed statement to Authority and the Navy (the “IRR Statement”) accompanied by an Accounting consistent with the Conveyance Agreement showing (i) for any IRR Statement provided during the Initial Consideration Term, the cumulative IRR achieved as of the end of each of the eight (8) immediately prior Quarters, and (ii) for any IRR Statement provided after expiration of the Initial Consideration Term, the cumulative IRR achieved as of the end of each of the six (6) prior Quarters (the eight or six Quarter Period, as applicable, the “Reporting Period”). The IRR Statement shall also calculate the average IRR over the Reporting Period, calculated by adding the cumulative IRR shown for each Quarter in the Reporting Period and dividing the total by the number of Quarters in the Reporting Period.
Calculation of IRR. All IRR calculations shall be compounded monthly and calculated using the XIRR function in Microsoft Excel.
Calculation of IRR. All IRR calculations shall be compounded monthly and calculated using the XIRR function in Microsoft Excel, in which the starting date shall be the date that the equity is invested and the ending date for any disposition shall be the earlier of (a) the date of such disposition or (b) the Valuation Date. An example of this calculation is attached hereto as Schedule E. EXHIBIT B FAIR MARKET VALUE DETERMINATION Unless the Members of the Company mutually agree otherwise, the Fair Market Value of the Company Assets shall be determined on the Valuation Date as follows:
Calculation of IRR. At or prior to the Determination Date, Agent shall provide the Company with the calculation of the IRR received by the Holders, collectively, with respect to the Notes and Warrants (the “Holders’ IRR”), assuming that the Warrants are exercisable into 5.5% of the issued and outstanding Common Stock of Parent on a fully diluted basis at the time of Closing. For a period of ten (10) Business Days following such determination, Agent shall provide the Parent with any information reasonably requested by the Parent in connection with the Holders’ IRR. If the Parent disputes Agent’s calculation of Holders’ IRR, then the Parent shall notify Agent of such dispute within ten (10) Business Days of receiving Agent’s calculations (the “Parent Notice”). If the Parent fails to provide the Parent Notice, then Holders’ IRR shall be deemed to be Holders’ IRR as originally determined by Agent. If the Parent delivers the Parent Notice, then Agent shall have ten (10) Business Days following its receipt of the Parent Notice, together with any information reasonably requested by the Parent in connection with such calculation, to correct such error and provide the Parent with a revised, and final determination of Holders’ IRR.
Calculation of IRR. Within forty-five (45) days after the expiration of the eighth full calendar Quarter occurring after the Initial Closing and forty-five (45) days after the expiration of each subsequent Quarter during the Term of the Conveyance Agreement with respect to the Navy, and until the Cash Flow Distribution Termination Date with respect to Authority, Developer shall submit a reasonably detailed statement to Authority and the Navy (the “IRR Statement”) accompanied by an Accounting consistent with the Conveyance Agreement showing (i) for any IRR Statement provided during the Initial Consideration Term, the cumulative IRR achieved as of the end of each of the eight
