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Flip Date definition

Flip Date means the last day of the calendar month in which Class B Member achieves an Internal Rate of Return equal to or greater than the Target IRR.
Flip Date means the later of (a) the date that is five (5) full years after the last date a Project owned by the Company is Placed in Service and (b) the last day of the calendar month in which the Class A Member achieves an Internal Rate of Return equal to or greater than the Target Internal Rate of Return.
Flip Date means the date after which the proportion of Distributable Cash distributable to the applicable Tax Equity Investor Member in a Project Company is reduced pursuant to the related Project Company LLCA.

Examples of Flip Date in a sentence

  • Notwithstanding the foregoing, the provisions of this Section 7.07(a) (1) shall not apply to or restrict the activities of any of Investor’s Affiliates, Affiliated Funds, and Affiliated Investment Vehicles other than Investor Fund and any such Affiliates, Affiliated Funds, and Affiliated Investment Vehicles as are Controlled by Investor Fund and (2) shall terminate and no longer be of any effect following the Flip Date.

  • From and after the Flip Date, each of XPLR Member and its Affiliates holding Class A Units or Class B 953834.04-WILSR01A - MSW Units may Dispose of all or any portion of such Class A Units and Class B Units to any Person without Class B Member Approval.

  • Notwithstanding the foregoing, the provisions of this Section 7.07(a) shall terminate and no longer be of any effect following the Flip Date.

  • From and after the Flip Date, each of XPLR Member and its Affiliates holding Class A Units or Class B Units may Dispose of all or any portion of such Class A Units and Class B Units to any Person, other than a XPLR Excluded Party, without Class B Member Approval.


More Definitions of Flip Date

Flip Date means [●], 2031.3
Flip Date is defined in the LLC Agreement.
Flip Date means the date after which the proportion of Distributable Cash distributable to the applicable Tax Equity Investor Member in a Partnership Flip Project Company is reduced pursuant to the related Partnership Flip Project Company LLCA.
Flip Date means the last day of the month in which Purchasers achieve an Internal Rate of Return equal to or greater than the Target IRR.
Flip Date means the date that is the earlier of (a) March 31, 2021 and (b) the date on which (x) the Initial Appraisal and (y) the Initial Field Exam are delivered to the Agent; provided that the Flip Date may not occur unless the Initial Appraisal has been completed and delivered to the Agent.
Flip Date is the day on which the Calculated Amount equals zero.