High Water Xxxx means a value that initially equals the greater of (i) the amount invested in the Managed Account, and (ii) the Net Asset Value of such Managed Account as of the end of any calendar month, after reduction for the Incentive Fee and Management Fee then due. The High Water Xxxx is proportionately reduced when capital is redeemed from the Managed Account and proportionately increased when capital is allocated to the Managed Account.
High Water Xxxx means the Market value of the Client’s Assets at the date of determination of the last Net Adjusted Profit except that, if there have been no Net Adjusted Profit on the Client’s Assets from the date of the initial investment, then the High Water Xxxx shall instead be the Market value of the Client’s Assets at the date of the initial investment.
High Water Xxxx means, as of any Calculation Date, the highest positive amount of the Company’s Cumulative Gains and Losses as of such Calculation Date that were calculated in connection with any Qualifying Trigger Event that occurred prior to such Calculation Date.
Examples of High Water Xxxx in a sentence
The High Water Xxxx shall be increased dollar-for-dollar by any capital allocated to the Company and decreased proportionately when capital is reallocated away from the Company (other than to pay expenses).
The proportionate reduction made as a result of a reallocation shall be calculated by multiplying the High Water Xxxx in effect immediately prior to such reallocation by the fraction the numerator of which is the Net Asset Value of the Company immediately following such reallocation and the denominator of which is the Net Asset Value of the Company immediately before such reallocation.
The High Water Xxxx is the maximum space in billable gigabytes utilized across all active Customer backups during the course of a calendar month.
If Units are withdrawn when there is a loss carryforward for Incentive Allocation calculation purposes (that is, the current level of cumulative New Appreciation is below the High Water Xxxx), such loss carryforward shall be reduced in proportion to the proportion of the total outstanding Units withdrawn.
For purposes of determining New Appreciation, the total increase, if any, in Net Asset Value of the Fund, including realized and unrealized gains and losses, above the High Water Xxxx shall be determined without regard to (i) increases in Net Asset Value due to capital contributions (inclusive of subscription proceeds) and (ii) decreases in Net Asset Value due to withdrawals, distributions, or the Incentive Allocation itself.
More Definitions of High Water Xxxx
High Water Xxxx means the highest closing price reported in THE WALL STREET JOURNAL for the common stock for the period commencing on January 1, 1997 and ending on the Quarter Closing Date. "Market Price" shall mean the closing price as reported in THE WALL STREET JOURNAL for the common stock for the trading day immediately preceding the date of exercise.
High Water Xxxx attributable to a BlackRock Vehicle’s Account shall be equal to the net asset value of such BlackRock Vehicle’s Account (for the avoidance of doubt, after reduction for the Incentive Fee then paid), as of the most recent Incentive Fee Calculation Date as of which an Incentive Fee was charged to such Account (or, for the year in which such BlackRock Vehicle Account was established, the date that the BlackRock Vehicle’s Account was established). The High Water Xxxx attributable to a BlackRock Vehicle’s Account shall subsequent to such date be increased dollar-for-dollar by any capital allocated to the Company by such BlackRock Vehicle and decreased proportionately when capital is Reallocated away from the Company (other than to pay expenses) by such BlackRock Vehicle. The amount of the High Water Xxxx after giving effect to the proportionate reduction made as a result of a Reallocation shall be calculated by multiplying the High Water Xxxx of such BlackRock Vehicle’s Account in effect immediately prior to such Reallocation by a fraction the numerator of which is the value of such BlackRock Vehicle’s Account immediately following such Reallocation and the denominator of which is the value of such BlackRock Vehicle’s Account immediately before such Reallocation.
High Water Xxxx. A separate High Water Xxxx shall be calculated for each Tranche. The High Water Xxxx for the first Calculation Period of each Tranche established in respect of Managed Assets shall be equal to the amount of the contribution pertaining to such Tranche. For each subsequent Calculation Period, the High Water Xxxx for each Tranche shall be determined as follows: (i) if a Performance Based Fee was paid in respect of a Tranche for a Calculation Period, the High Water Xxxx for the immediately succeeding Calculation Period shall be equal to the Opening Balance of the Net Asset Value Memorandum Account for such Tranche for such succeeding Calculation Period; and (ii) if no Performance Based Fee was paid in respect of a Tranche for a Calculation Period, the High Water Xxxx shall remain at its prior level for the immediately succeeding Calculation Period. In the event of a withdrawal of a portion of a Tranche (i) on a date other than December 31, the High Water Xxxx in respect of the remaining Managed Assets in such Tranche for the Calculation Period in which the withdrawal occurred shall be adjusted, or (ii) on December 31, if no Performance Based Fee was paid in respect of the Tranche from which the assets were withdrawn, the High Water Xxxx in respect of such Tranche for the Calculation Period immediately following the Calculation Period in which the withdrawal occurred shall be determined, in each case, by multiplying the High Water Xxxx then in effect by (a) one (1), minus (b) a fraction, the numerator of which is the dollar amount withdrawn and the denominator of which is the net asset value of the Managed Assets attributable to that Tranche on the date of, but prior to, the withdrawal.
High Water Xxxx means, with respect to any Person as of any specified date, the largest combined LLC Interest and Derivative Share attributable to the Person and its Permitted Transferees, including the LLC Interests underlying all vested "in-the-money" options to purchase LLC Interests held by such Person and its Permitted Transferees, at anyone time during the period beginning on the date hereof and ending on the specified date.
High Water Xxxx. High Water Xxxx is a memorandum account, the opening balance of which shall equal the net asset value of the Managed Account at account inception. At the end of each Performance Based Fee calculation period, the High Water Xxxx will equal the opening balance compounded by the return of the MSCI Emerging Markets Index (net) since the inception of the Managed Account or since the last cash flow, if applicable. At the time of a Fund cash flow, the High Water Xxxx shall be determined and increased to reflect additional assets contributed to the Managed Account or reduced pro-rata (in proportion to the net asset value of the Managed Account on the date of withdrawal) to reflect a partial withdrawal of assets from the Managed Account (exclusive of withdrawals made to pay the Investment Management Fee), which High Water Xxxx shall thereafter become the new opening balance.
High Water Xxxx for the Account is the highest Net Asset Value of the Account as of any previous December 31 or the initial opening balance of the Account, if higher (it being understood that the High Water Xxxx for December 31, 2005 Profit Allocation shall be the initial opening balance * Blank spaces contained confidential information that has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. of the Account). Operating expenses (including those set forth in Paragraph 5 herein) reduce Net Asset Value for purposes of calculating the Profit Allocation. Profit Allocations do not themselves reduce increases in Net Asset Value for purposes of calculating subsequent Profit Allocations, i.e., CD Capital does not have to "earn back" the Profit Allocation previously made from the Account in order for the Net Asset Value of the Account to exceed its High Water Xxxx and be subject to an additional Profit Allocation. Any withdrawals made from the Account other than as of a December 31 will be assessed a proportionate allocation at the time of withdrawal. The High Water Xxxx will be proportionately reduced each time a withdrawal is made from the Account.
High Water Xxxx means value of the highest Closing NAV achieved by the Portfolio in any year during the subsistence of this Agreement (inclusive of any additional funds placed by the Client in that year) and net of (i) the Portfolio Management Fees and (ii) any withdrawals, if any, made by the Client in accordance with this Agreement, for that year. Provided that in no event shall the High-Water Xxxx be reckoned to be less than the Starting NAV as on the date of activation of account.