Incentive Threshold Event. The “Incentive Threshold Event” shall occur as of a Distribution Date if (A) the aggregate distributions made to the Private Owner pursuant to Section 6.6(b)(ii) as of such Distribution Date is equal to or greater than the sum of (x) two (2.0) times the Transferred LLC Interest Sale Price, plus (y) the amount of the Private Owner WCR Account Deposit, and (B) the Incentive Threshold as of such Distribution Date is equal to zero.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Incentive Threshold Event. The “Incentive Threshold Event” shall occur as of a Distribution Date if (A) the aggregate distributions made to the Private Owner pursuant to Section 6.6(b)(ii) as of such Distribution Date is equal to or greater than the sum product of (x) two (2.0) times and the Transferred LLC Interest Sale Price, plus (y) the amount of the Private Owner WCR Account DepositIncentive Threshold Base Amount, and (B) the Incentive Threshold as of such Distribution Date (determined based on the Threshold Increase Amount for the Incentive Threshold Event) is equal to zero.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Incentive Threshold Event. The “Incentive Threshold Event” shall occur as of a Distribution Date if (A) the aggregate distributions (for such Distribution Date and all prior Distribution Dates) made to the Private Owner and the Initial Member pursuant to Section 6.6(b)(ii) as of such Distribution Date is are in an amount equal to or greater than the sum of (x) two (2.0) 5.0 times the Transferred LLC Private Owner Interest Sale Price, plus (y) the amount of the Private Owner WCR Account Deposit, and (B) the Incentive Threshold as of such Distribution Date is equal to zero.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Private Owner Interest Sale and Assignment Agreement
Incentive Threshold Event. The “Incentive Threshold Event” shall occur as of a Distribution Date if (A) the aggregate distributions made to the Private Owner (including any amounts that were deposited into the Special Reserve Account that would have otherwise been distributed to the Private Owner) pursuant to Section 6.6(b)(ii) the Priority of Payments as of such Distribution Date is equal to or greater than the sum product of (x) two (2.0) times and the Transferred LLC Interest Sale Price, plus (y) the amount of the Private Owner WCR Account DepositIncentive Threshold Base Amount, and (B) the Incentive Threshold as of such Distribution Date is equal to zero.
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