Hurdle Value definition

Hurdle Value means, with respect to each Incentive Unit, the value specified as such in the applicable Incentive Unit Agreement, which value shall be equal to or greater than the Fair Market Value of the Company on the date of grant.

Hurdle Value shall have the meaning as set forth in Section 15.3, the ------------- dollar amount reflecting a value that meets or exceeds a return of the dollar investment by each Member plus a 12% annual return. (p) "Initial Operating Agreement" shall mean the first operating agreement ----------------------------- of the Company adopted as of October 15, 1999. (q) "Involuntary TransferInvoluntary Transfer" means any transaction, ------------------------------------------ proceeding or action by or in which any Member shall be involuntarily deprived or divested of any right, title or interest in or to any of the Membership Interests, including, without limitation, any seizure under levy of attachment or execution, transfer in connection with bankruptcy or other court proceeding to a trustee in bankruptcy or receiver or other officer of agency, any transfer to a state or to a public officer or agency pursuant to any applicable statute pertaining to escheat or abandoned property or any court-ordered transfer to a spouse or former spouse of a Member, and shall include the transfer of Membership Interests by a Member's legal representative following his death (testate or intestate) or incompetence to any person other than a Permissible Transferee of such deceased or incompetent Member. (r) "Liquidity ClosingClosing" shall have the meaning set forth in 15.3 (b). ----------------- (s) "Liquidity Offer" shall have the meaning set forth in 15.3 (a). ---------------- (t) "ManagerManager" shall mean a person elected to the Board of Managers in -------------- accordance with Section 11.1. (u) "MemberMember" shall mean the Members and each other person or entity ------------ admitted to membership in the Company whose names, Capital Contributions and Percentage Interests are set forth on Exhibit 6.1 and all Counterparts. ------------ (v) "Membership Interests" means a Person's share of the Profits and Losses --------------------- of, and the right to receive distribution from the Company. (w) "Percentage InterestPercentage Interest" shall have the meaning set -------------------------------------- forth in Section 6.1. (x) "Permissible Transferee" shall have the meaning set forth in Section ----------------------- 13.1

Hurdle Value is defined in Section 2.3(c)(1).

Examples of Hurdle Value in a sentence

• Otherwise, the pay-out operates identically.Where the Interest Multiplier is positive, if such Latest Value (or, in respect of Currency Linked Interest Notes, the Previous Value) does not exceed the relevant Evolution Hurdle Value, no Interest Amount will be payable in respect of such Interest Period unless the shortfall when presented as a percentage against the Previous Value (or, in respect of Currency Linked Interest Notes, the Latest Value) is less than any positive Margin applicable to the Notes.

• The excess performance on each Valuation Day is defined as any difference between the current Base Net Asset Value (Base NAV) and the current Hurdle Value.

• If the Liquidity Offer is for an amount that meets or exceeds a return of the dollar investment by each Member plus a 12% annual return (the "Hurdle Value"), then the Company or all of its assets shall be sold and each Member agrees that they shall take all actions necessary to accomplish such sale, unless by vote of 70% of the outstanding Percentage Interests, the Members decide to not sell the Company.

• If the Liquidity Offer meets the Hurdle Value, but is for less than 100% of all the Members Interest or it is to be paid for with other than cash, then acceptance of the Liquidity Offer shall require approval 70% of the Percentage Interests.

• Notwithstanding anything to the contrary herein or otherwise, as of any date of determination, in no event shall the Hurdle Value be deemed to have been met with respect to the 2X Units and the 4X Units, unless and until each Sponsor realizes cash proceeds in respect of the Units representing their respective Invested Equity equal to at least two (2) times and four (4) times its Invested Equity, respectively.

• The Manager will earn a 20% performance fee on the appreciation in the NAV per Unit over and above the Hurdle Value during a Performance Period.

• The remaining 348,350.87 Incentive Units from the New Pool shall be issued with an aggregate Hurdle Value equal to an amount such that each Sponsor would upon a distribution (taking into account any prior distributions), receive cash proceeds in respect of the Units representing its Invested Equity pursuant to and in accordance with Article IV of the LLC Agreement, equal to 4X in respect of such Sponsor’s Invested Equity (“4X Units”).

• For the avoidance of doubt and notwithstanding anything to the contrary herein, or otherwise in the LLC Agreement or in the Plan, in no event shall the Participant be eligible to receive any distributions in respect of the Incentive Units awarded hereby unless and until the aggregate adjusted Hurdle Value has been achieved.

• The Hurdle Value of the 2X Units and 4X Units shall be subject to adjustments in accordance with Section IV.B; provided that, in no event shall the Hurdle Value of any Incentive Unit be lower than the Fair Market Value of the Company as of the date of grant of such Incentive Unit.

• The Board shall determine the number of Incentive Units to be issued or transferred and the restrictions applicable to such award, as well as the Hurdle Value applicable to such award.

More Definitions of Hurdle Value

Hurdle Value means in relation to a Plan Share the sum of €[ • ]2;

Hurdle Value means initially Four Million Dollars ($4,000,000). After the first twelve (12) months, the Hurdle Value decreases by $250,000, and then decreases by an additional $250,000 for each full month thereafter. By way of example and not limitation, after sixteen (16) months, the Hurdle Value would be Three Million Dollars ($3,000,000), and after the twenty-eighth (28th) month would be zero ($0).

Hurdle Value. ’ means £53.0m as at 31st December 2011 plus circa 10% per annum