Aggregate Floor Value definition
Examples of Aggregate Floor Value in a sentence
If the Aggregate Share Value as of such Vesting Event does not exceed the Aggregate Floor Value, or if the ▇▇▇▇▇ Entities do not achieve the Investor Return, no portion of the Exit Options shall become exercisable at such time.
Notwithstanding the foregoing or anything to the contrary, in no event shall any Exit Options become exercisable hereunder unless the ▇▇▇▇▇ Entities receive an internal rate of return, compounded annually (the “IRR”), on their investment in the Company and its affiliates (including Axle Holdings II, LLC, a Delaware limited liability company (the “LLC”)) of at least 12% and the Aggregate ▇▇▇▇▇ Exit Value at the date of the Vesting Event is at least equal to the Aggregate Floor Value.
The Exit Options shall become exercisable, if at all, on the date of a Change in Control or any subsequent sale, transfer or other disposition of Common Stock by the ▇▇▇▇▇ Entities (the “Vesting Event”) in which the Aggregate Share Value is at least equal to the Aggregate Floor Value (as each such term is defined below) and the ▇▇▇▇▇ Entities shall have achieved the Investor Return (as defined below).
Notwithstanding the foregoing or anything to the contrary, in no event shall any Exit Options become exercisable hereunder unless the Investor Members receive an internal rate of return, compounded annually (the “IRR”), on their investment in the Company and its affiliates (including KAR Holdings II, LLC, a Delaware limited liability company (the “LLC”)) of at least 12% and the Aggregate Investor Members Exit Value at the date of the Vesting Event is at least equal to the Aggregate Floor Value.
If the Aggregate Share Value as of the Vesting Event does not exceed the Aggregate Floor Value, or if the ▇▇▇▇▇ Entities do not achieve an internal rate of return, compounded annually, of at least 10%, no portion of the Performance Options shall become exercisable.
If the Aggregate Share Value as of the Vesting Event does not exceed the Aggregate Floor Value, or if the ▇▇▇▇▇ Entities do not achieve an internal rate of return, compounded annually, of at least 14%, no portion of the Exit Options shall become exercisable.
If the Aggregate Share Value on the date of such Vesting Event exceeds the Aggregate Floor Value, the Applicable Percentage (as defined below) of the Exit Options shall become exercisable as of the Vesting Event.
The Exit Options shall become exercisable, if at all, on the date of a Change in Control (the “Vesting Event”) in which the Aggregate Share Value is at least equal to the Aggregate Floor Value (as each such term is defined below); provided that, in no event shall any Exit Options become exercisable hereunder unless the ▇▇▇▇▇ Entities receive an internal rate of return, compounded annually, on their investment in the ▇▇▇▇▇ Stock (as defined below) of at least 14%.
If the Aggregate Share Value at the date of the Vesting Event exceeds the Aggregate Floor Value, the Applicable Percentage (as defined below) of the Exit Options shall become exercisable as of the Vesting Event.
The Performance Options shall become exercisable in accordance with this Section 2(b), if at all, on the date of a Change in Control (the “Vesting Event”) in which the Aggregate Share Value exceeds the Aggregate Floor Value (as each such term is defined below); provided, that in no event shall any Performance Options become exercisable hereunder unless the ▇▇▇▇▇ Entities also receive an internal rate of return, compounded annually, on their investment in the ▇▇▇▇▇ Shares (as defined below) of at least 10%.