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 [•], 20252.

Examples of Flip Date in a sentence

• Notes in respect of which “Fixed to Floating Coupon” is specified in the relevant Final Terms to be applicable bear interest at a rate that switches automatically from the Fixed Rate of Interest to the Floating Rate of Interest on the Coupon Flip Date.

• Notes in respect of which “Floating to Fixed Coupon” is specified in the relevant Final Terms to be applicable bear interest at a rate that switches automatically from the Floating Rate of Interest to the Fixed Rate of Interest on the Coupon Flip Date.

• In the case of any such audit or proceeding involving the Investor for a tax period prior to or including the Flip Date, if the Investor is not successful in converting the portion of such audit or proceeding that relates to such items into a proceeding at the level of the Company, the Company shall reimburse the Investor for all reasonable costs and expenses, including reasonable attorneys’ fees, in contesting such claim.

• In the case of Capital Contributions to fund payments required to be made on a Purchase Date under the Master EPC Agreement for a particular Tranche, the Class A Member shall contribute, subject to Section 4.1(c), that amount, as determined pursuant to the Base Case Model for such Tranche, that will allow the Class A Member to reach the applicable Target Internal Rate of Return by the Projected Flip Date.

• If notice of dispute is not given by any Class B Member within such period, the determination that the Flip Date has occurred, and the items, procedures and calculations described above relating thereto, will be final and binding on the Members.

More Definitions of Flip Date

Flip Date is defined in the LLC Agreement.

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 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, with respect to a Financing Fund, the date on which the percentage of Distributable Cash allocated to the related Tax Equity Investor Member is reduced in accordance with the terms of the related Financing Fund LLC Agreement.

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 means the end of the last day of the month in which the Flip Point occurs.

Flip Date is the day on which the Calculated Amount equals zero.