Common use of Exit Performance Fee Clause in Contracts

Exit Performance Fee. Subject to achievement of the Hurdles (as defined below), Xxxxxx will receive a performance fee of 25% (plus VAT if applicable) of all the profits or capital which are distributed to an Investor in respect of an Investment in an Investee Company, whether by dividends, other distributions or sale proceeds. The ‘Hurdles’ shall be calculated as follows: Where: a) aggregate distributions to the investor exceed the net cost of the investor’s subscription to the investee company in question by 20%, an entitlement to a performance fee of 25% of further funds so returned will accrue to Xxxxxx; and b) accrued performance fees will become payable once, and to the extent, the investor has received 120% of the Net Subscription to the Fund. The performance incentive fee is payable on a 'deal-by-deal' basis subject to the overall requirement of achieving a 120% return to investors from their Net Subscription to the Fund as a whole. On the exit of each investment, Xxxxxx will produce a calculation to determine whether or not the Investor’s aggregate distributions exceeds the cost of their investment in the relevant investee company and whether the overall Fund hurdle of 120% has been met. If this net cost has been exceeded, Xxxxxx will issue a notice to the Investor confirming that such threshold has been reached and Xxxxxx will then either have the right to be paid the performance fee (if the Fund hurdle has been met) or to accrue it against possible future payment (if it has not). Accrued but unpaid performance fees will be paid in priority to and before any further distributions or payments are made to the investor. The full or partial withdrawal of the Investor from the Fund shall not affect the above and the accrued performance fees will remain payable in full by the investee company in priority to the and before any further distributions or payments are made to the investor.

Exit Performance Fee. Subject to achievement of the Hurdles (as defined below), Xxxxxx will receive a performance fee of 2535% (plus VAT if applicable) of all the profits or capital which are distributed to an Investor in respect of an Investment in an Investee Company, whether by dividends, other distributions or sale proceeds. The ‘Hurdles’ shall be calculated as follows: Where: a) aggregate distributions to the investor exceed the net cost of the investor’s subscription to the investee company in question by 20%, an entitlement to a performance fee of 2535% of further funds so returned will accrue to Xxxxxx; and b) accrued performance fees will become payable once, and to the extent, the investor has received 120% of the Net Subscription to the Fund. The performance incentive fee is payable on a 'deal-by-deal' basis subject to the overall requirement of achieving a 120% return to investors from their Net Subscription to the Fund as a whole. On the exit of each investment, Xxxxxx will produce a calculation to determine whether or not the Investor’s aggregate distributions exceeds the cost of their investment in the relevant investee company and whether the overall Fund hurdle of 120% has been met. If this net cost has been exceeded, Xxxxxx will issue a notice to the Investor confirming that such threshold has been reached and Xxxxxx will then either have the right to be paid the performance fee (if the Fund hurdle has been met) or to accrue it against possible future payment (if it has not). Accrued but unpaid performance fees will be paid in priority to and before any further distributions or payments are made to the investor. The full or partial withdrawal of the Investor from the Fund shall not affect the above and the accrued performance fees will remain payable in full by the investee company in priority to the and before any further distributions or payments are made to the investor.