Quarterly Determinations Clause Samples
The "Quarterly Determinations" clause establishes a process for regularly assessing certain metrics, obligations, or financial figures every three months during the term of an agreement. Typically, this involves reviewing performance, compliance, or payment amounts at the end of each quarter, with parties required to provide relevant data or reports for evaluation. The core function of this clause is to ensure ongoing oversight and timely adjustments, thereby promoting transparency and allowing for prompt resolution of issues as they arise throughout the contract period.
Quarterly Determinations. For so long as the Class B Units are held by Investor, the Managing Member will (i) calculate at least quarterly the Internal Rate of Return achieved by Investor and (ii) send Investor, within forty-five (45) days after the end of each Quarter, a report in the form of the IRR Report showing the Internal Rate of Return as of such date. The Managing Member will make its advisors available to answer any questions regarding the calculations contained in any such IRR Report.
Quarterly Determinations. For so long as the Class B Units are held by the GEPIF Investor or its Affiliates, the Managing Member will (i) calculate at least quarterly the Internal Rate of Return achieved by the GEPIF Investor and (ii) send the GEPIF Investor, within forty-five (45) days after the end of each Quarter, a report in the form of the IRR Report showing the Internal Rate of Return as of such date. The Managing Member will make its advisors available to answer any questions regarding the calculations contained in any such IRR Report.
Quarterly Determinations. Prior to the Flip Date, the Managing Member will cause the Manager to (i) calculate using the Tracking Model at least quarterly whether the Class B Member has reached the Target Internal Rate of Return and (ii) send the Class B Member, within 45 days after the end of each Quarter in which the Target Internal Rate of Return was not achieved, a report in the form of the Target IRR Report showing where it believes the Class B Member is in relation to the Target Internal Rate of Return. The Managing Member will make its advisers available to answer any questions regarding the calculations contained in any such Target IRR Report.
Quarterly Determinations. Subject to the provisions of Section 6.6, the allocations in this Article VI shall be made each calendar quarter to the Members or their Assignees as of the last day of such calendar quarter with respect to the Membership Interests of such Members or their Assignees on that day.
Quarterly Determinations. The Value of Merchantable Timber shall be determined from time to time based upon appraisals of the same and other factors as hereinafter set forth. Within 30 days after the close of each calendar quarter, the Borrower shall cause Maso▇ ▇▇▇▇▇ & ▇ira▇▇, ▇▇c. or another independent appraiser of national reputation in the appraisal of timberlands who is acceptable to the Required Lenders (an "Acceptable Appraiser") to submit an appraisal to the Lenders appraising the value of the Merchantable Timber as of the close of such calendar quarter in accord with sound timber appraisal methods, generally using both the comparable sales and income approaches to a determination of value. Each such appraisal shall generally use the methodology set forth in the appraisal of Maso▇ ▇▇▇▇▇ & ▇ira▇▇, ▇▇c. as of August 31, 1998 and heretofore delivered to the Lenders (the "Initial Appraisal") and shall include an update on endangered species and fire damage issues and any regulatory issues which impact the amount or cost of harvesting Timber from the Timberland, provided that future appraisals shall be based in part on a current independent cruise of portions of the Timberland in accord with prudent industry practice if and to the extent that the Borrowers's normal random Timberland cruise samplings reveal variances outside industry norms. The Value of Merchantable Timber shall then be adjusted by the Borrower by (i) deleting any amounts included in the appraisal in respect of land values or values for pre-Merchantable Timber or Timber which is not mortgaged, (ii) adjusting the value of Merchantable Timber included consisting of Stumpage Rights to account for any obligations of the Borrower or the Guarantors to the owners of the land underlying such Merchantable Timber and (iii) making adjustments on account of the Frontier Stumpage Contract and advance payments or prepayments under stumpage sales and similar arrangements. The Borrower shall then notify the Administrative Agent of its determination of the Value of Merchantable Timber and the Administrative Agent shall make such other adjustments as the Administrative Agent in good fait▇ ▇▇▇▇▇ ▇▇▇ropriate under the circumstances (including adjustments in discount rates and factors and selecting among appraisal methodologies). The Administrative Agent shall consult with the Borrower in connection with such adjustments but its determination shall be final and conclusive absent bad faith. The Administrative Agent shall then notify ...