Hurdle Condition definition

Hurdle Condition shall be satisfied at such time that (i) at least forty percent (40%) of the Total Initial Capital Commitment has been funded, and (ii) the Debt to Equity Ratio of the Borrower is no more than 2:00 to 1.00.
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Hurdle Condition it means the condition, verified at the end of each Performance Period, whereby, if not
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Hurdle Condition shall be determined separately for each Hurdle Group and shall be satisfied at such times that the Borrowers have called and received at least forty percent (40%) of the aggregate Capital Commitments of all Hurdle Investors in the applicable Hurdle Group. For the avoidance of doubt, the forty percent (40%) threshold will be calculated as one (1) minus a fraction, (i) the numerator of which is the aggregate Unused Capital Commitments of all applicable Hurdle Investors in the applicable Hurdle Group, and (ii) the denominator of which is the aggregate Capital Commitments of all applicable Hurdle Investors in the applicable Hurdle Group), with the result of such calculation being expressed as a percentage of one (1).
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Examples of Hurdle Condition in a sentence

  • PERFORMANCE ALLOCATION 1.1 Subject to the satisfaction of the Hurdle Condition, in respect of each Performance Allocation Period, the Performance Allocation Amount shall be allocated to the Performance Allocation Shares Class Fund (to the extent that amount is a positive number).

  • Gateway Hurdle Condition exists whereby FY16 Performance Rights may not vest unless the individual remains employed up to and including 31 August 2018.

  • Gateway Hurdle Condition exists whereby FY17 Performance Rights may not vest unless the individual remains employed up to and including 30 September 2019.

  • The Rights will vest upon fulfillment of the Hurdle Condition (and of the Qualifying Conditions, if applicable) and upon achievement of given Performance Objectives as described in section 2.2. In case of failure to meet the Hurdle Condition (and the Qualifying Conditions, if applicable) or failure to achieve both Performance Objectives, no incentive will be paid under the Plan for the relevant cycle.

  • The Board of Directors, on the recommendation of the Remuneration Committee, after the conclusion of each Performance Period, shall verify that the Hurdle Condition (and the Qualifying Conditions, if applicable) has been met as well as the level of achievement of the Performance Objectives, consequently determining the number of Phantom Stocks and the Premium to be granted to each Beneficiary.

  • The Debtor requests a final hearing on this Motion to be held within 25 days of the Petition Date to ensure that, if a Utility Company argues it can unilaterally refuse service tothe Debtor on the 31st day after the Petition Date, the Debtor will have the opportunity, to the extent necessary, to request that the Court make such modifications to the Assurance Procedures in time to avoid any potential termination of the Utility Services.

  • The Plan provides for the assignment to the Beneficiaries of Rights to receive Phantom Stocks (and the related cash Premium), to be granted to each Beneficiary in the number determined based on achievement of the Performance Objectives during the Performance Period.The vesting of Rights is subject to the fulfillment of the Hurdle Condition, which ensures the sustainability of the Plan for the Group.

  • The Institute of Medicine estimated that25 the uninsured had an excess annual mortality rate of 25%.

  • The vesting of Rights is subject to the fulfillment of the Hurdle Condition, which ensures the sustainability of the Plan for the Group.

  • Gateway Hurdle Condition exists whereby FY15 Performance Rights may not vest unless the individual remains employed up to and including 31 August 2017.


More Definitions of Hurdle Condition

Hurdle Condition shall be determined separately for each Hurdle GroupInvestor and shall be satisfied at such times that the Borrowers have called and received at least fortytwenty-five percent (4025%) of the aggregate Capital Commitments Commitment of allsuch Hurdle Investors in the applicable Hurdle GroupInvestor. For the avoidance of doubt, the fortytwenty-five percent (4025%) threshold will be calculated as one (1) minus a fraction, (i) the numerator of which is the aggregate Unused Capital Commitments Commitment of all applicablesuch Hurdle Investors in the applicable Hurdle GroupInvestor, and (ii) the denominator of which is the aggregate Capital Commitments Commitment of all applicablesuch Hurdle Investors in the applicable Hurdle Group)Investor, with the result of such calculation being expressed as a percentage of one (1).
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Related to Hurdle Condition

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Performance Condition means a condition related to performance which is specified by the Committee under Rule 4.1 (Terms of grant);

  • Performance Conditions means specific levels of performance of the Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis, including, without limitation, the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital), which may be but are not required to be measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures and total stockholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv) objective measures of customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value; (xviii) sales; (xix) stockholder return; (xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects (including, but not limited to, succession and hiring projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and meeting divisional or project budgets); (xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book value; (xxvii) strategic objectives; (xxviii) gross or net authorizations; (xxix) backlog; or (xxx) any combination of the foregoing. Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an absolute or relative basis to measure the performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more members of the Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices.

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Release Condition means the following:

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below), (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage” shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • performance requirement means a requirement that:

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Standard Conditions means the “International Bank for Reconstruction and Development and International Development Association Standard Conditions for Grant Financing Made by the Bank out of Trust Funds”, dated February 25, 2019.

  • Licence Conditions means the licence terms and conditions contained in this document, as amended from time to time in accordance with this agreement.

  • Payment Conditions means, at the time of determination with respect to any specified transaction or payment, that: