Drawdown Unit Amount means, for each Drawdown Date with respect to a Common Unitholder, a number of Common Units determined by dividing (i) the Drawdown Purchase Price for that Drawdown Date by (ii) the applicable then-current NAV per Unit. The NAV per Unit for the Initial Drawdown Date shall be deemed to be $20.
Drawdown Unit Amount means, for each Drawdown Date, a number of Common Units determined by dividing (i) the Drawdown Purchase Price for that Drawdown Date by (ii) the applicable Per Unit Price (as defined below), subject to adjustment in accordance with the procedures set forth in Section 5.3(c), with the resulting quotient adjusted to the nearest whole number to avoid the issuance of fractional shares.
Drawdown Unit Amount shall have the meaning set forth in Section 5.2.
Examples of Drawdown Unit Amount in a sentence
Each Member and the Company agrees that on each Drawdown Date, such Member shall purchase from the Company, and the Company shall issue to such Member, a number of Units equal to the Drawdown Unit Amount at an aggregate price equal to the Drawdown Purchase Price; provided, however, that in no circumstance will a Member be required to purchase Units for an amount in excess of its Undrawn Commitment.
More Definitions of Drawdown Unit Amount
Drawdown Unit Amount means, for each Drawdown Date with respect to a Common Unitholder, a number of Common Units determined by dividing (i) the Drawdown Purchase Price for that Drawdown Date by (ii) the applicable then-current NAV per Unit. For purposes of this calculation, the NAV per Unit may be based on the NAV per Unit calculated at the end of the most recent calendar month prior to the date of the applicable drawdown notice or issuance date, subject to adjustments for material changes and to the limitations of Section 23 under the Investment Company Act (which generally prohibits the Company from issuing Units at a price below the then-current NAV of the Units as determined within 48 hours, excluding Sundays and holidays, of such issuance, subject to certain exceptions). The NAV per Unit for the Initial Drawdown Date shall be deemed to be $100.
Drawdown Unit Amount shall have the meaning set forth in Section 5.2. “Electronic Signature” shall have the meaning set forth in Section 13.2. “ERISA” shall mean the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. “Event of Dissolution” shall have the meaning set forth in Section 11.1. “Excess Organizational and Offering Expenses” shall mean the amount of Organizational and Offering Expenses (other than Placement Fees, except any fees and expenses and any interest on deferred fees charged by any locally licensed intermediary or distributor that the Fund, the Adviser or an Affiliate thereof is required to engage in order to offer Units in particular jurisdictions) in excess of, at the end of the Closing Period, the lesser of: (i) $2.0 million or (ii) 0.25% of the Aggregate Committed Capital. “Excess Specified Expenses” shall mean the amount of Specified Expenses payable by the Fund for any calendar year in excess of the Specified Expenses Cap (giving effect to the adjustment in the last sentence of the definition of Specified Expenses Cap in the calendar year in which the Closing Period ends). “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. “Excluded Investor” shall have the meaning set forth in Section 5.4. “Executive Advisory Council” shall have the meaning set forth in Section 2.8(a). “FATCA” shall mean Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements, treaties or conventions entered into in connection with the implementation of such Sections, and any laws, rules, guidance notes and practices adopted by a non-U.S. jurisdiction to effect any such intergovernmental agreement or any similar provisions of non-U.S. law (including, for the avoidance of doubt, any law that implements any such agreement or that implements the Organization for Economic Co-operation and Development’s Common Reporting Standard). “Fiscal Year” shall mean the fiscal year of the Fund, as determined pursuant to Section 1.5. “Follow-On Investment” shall mean an investment (other than a Follow-Up Investment) by the Fund in a Portfolio Company or a Person whose business is related or complementary to that of (and will be under common management with) a Portfolio C...
Drawdown Unit Amount means, for each Drawdown Date, a number of Common Units determined by dividing (i) the Drawdown Purchase Price for that Drawdown Date by (ii) the applicable Per Unit Price (as defined below), subject to adjustment in accordance with the procedures set forth in Section 5.3(c), with the resulting quotient adjusted to the nearest whole number to avoid the issuance of fractional shares. “Per Unit NAV” shall mean, for any Drawdown Date or Catch-Up Date (as defined below) or for Section 10.3, net asset value per Unit as of the end of the most recent calendar quarter, determined in accordance with the procedures set forth in Section 5.3(c) in a manner consistent with the limitations of the Investment Company Act as of the last day of the Fund’s calendar quarter immediately preceding such date. “Per Unit Price” shall mean, (1) for the Initial Drawdown Date and any future Drawdown Dates or Catch-Up Dates (as defined below) where the then-current Per Unit NAV is greater than or equal to $9.70, $10.00, (2) for any future Drawdown Dates or Catch-Up Dates where the then-current Per Unit NAV plus allocable Organizational and Offering Expenses per Unit is greater than or equal to $9.70, $10.00 and (3) for any future Drawdown Dates or Catch-Up Dates where the then-current Per Unit NAV plus allocable Organizational and Offering Expenses per Unit is less than $9.70, at least the greater of (A) Per Unit NAV plus allocable Organizational and Offering Expenses per Unit and (B) $9.50; provided that the Per Unit Price shall be subject to the limitations of Section 23 under the Investment Company Act (which generally prohibits the Fund from issuing Units at a price below the then-current net asset value of the Units as determined within 48 hours, excluding Sundays and holidays, of such issuance (taking into account any investment valuation adjustments from the latest quarterly valuation date in accordance with the Fund’s valuation policy) subject to certain exceptions). By executing a Subscription Agreement and agreeing to become a Member, each Common Unitholder agrees that it is providing its consent, in accordance with Section 23(b) of the Investment Company Act, for the Fund to issue Units at the offering prices described above even if such offering price is below the then-current Per Unit NAV. “Remaining Capital Commitment” shall mean, with respect to a Common Unitholder, the amount of such Common Unitholder’s Capital Commitment as of any date reduced by the aggregate amount ...
Drawdown Unit Amount means, for each Drawdown Date with respect to a Common Unitholder, a number of Common Units determined by dividing (i) the Drawdown Purchase Price by (ii) a price per Common Unit as determined by the Board or an appropriately designated committee of the Board prior to the issuance of such Units and in accordance with the limitations under Section 23 of the Investment Company Act (the “Price per Unit”). The Board, or an appropriately designated committee thereof, may set the Price per Common Unit above the net asset value per Unit based on a variety of factors, including the total amount of Company’s organizational and other expenses. The Price per Unit for the Initial Drawdown Date shall be $20.