High Water Date definition
High Water Date means, with respect to the HPS Investment Account or an Affiliated Account, as applicable, the time of the opening of the New York Stock Exchange on the date immediately following the most recent date as of which such account paid a performance fee (or, if no performance fee has yet been paid, the opening balance of such account immediately following its establishment).
High Water Date means the date immediately following the most recent date as of which a Performance Fee was paid (or, if no Performance Fee has yet been paid, the opening balance of the HPS Investment Account immediately following its establishment).
High Water Date. The "High Water Date" as to any Unit is (i) the first day immediately following the last date for which an Incentive Allocation was allocated with respect to such Unit, or (ii) if no Incentive Allocation has ever been allocated with respect to such Unit, the date on which the Unit was issued.
Examples of High Water Date in a sentence
New Net Profits" as to the Net Assets represented by any Unit for any period means the amount by which the Net Assets represented by such Unit on the last day of the period (before reduction for any state tax) exceeds the Net Assets represented by such Unit, as of the High Water Date, taking into account both realized and unrealized gains and losses and adjusted to reflect, redemptions and distributions with respect to such Unit.