Common use of Incentive Distributions Clause in Contracts

Incentive Distributions. (a) When and if Whitehall has achieved a 15% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to a cash payment in the amount of $500,000 to be paid to Participant within five business days of notice from Whitehall. (b) In addition to the foregoing, when and if Whitehall has achieved a 20% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to (b) a cash payment in the amount of $500,000 to be paid to Participant within five business days of notice from Whitehall (the cash payments in the foregoing clauses 6(a) and 6(b) shall be known as “Incentive Distributions”).

Appears in 2 contracts

Samples: Economic Participation Agreement (American Casino & Entertainment Properties LLC), Economic Participation Agreement (American Casino & Entertainment Properties LLC)

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Incentive Distributions. (a) When and if Whitehall has achieved a 15% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to a cash payment in the amount of $500,000 750,000 to be paid to Participant within five business days of notice from Whitehall. (b) In addition to the foregoing, when and if Whitehall has achieved a 20% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to (b) a cash payment in the amount of $500,000 750,000 to be paid to Participant within five business days of notice from Whitehall (the cash payments in the foregoing clauses 6(a) and 6(b) shall be known as “Incentive Distributions”).

Appears in 1 contract

Samples: Economic Participation Agreement (American Casino & Entertainment Properties LLC)

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Incentive Distributions. (a) When and if Whitehall has achieved a 15% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to a cash payment in the amount of $500,000 1,000,000 to be paid to Participant within five business days of notice from Whitehall. (b) In addition to the foregoing, when and if Whitehall has achieved a 20% Internal Rate of Return with respect to its investments in the Company, then Participant shall be entitled to (b) a cash payment in the amount of $500,000 1,500,000 to be paid to Participant within five business days of notice from Whitehall (the cash payments in the foregoing clauses 6(a) and 6(b) shall be known as “Incentive Distributions”).

Appears in 1 contract

Samples: Economic Participation Agreement (American Casino & Entertainment Properties LLC)

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