Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Subordinated Notes Outstanding have received an IRR of at least 15 per cent. on the Principal Amount Outstanding of the Subordinated Notes as of the Issue Date (after giving effect to all payments in respect of the Subordinated Notes to be made on such Payment Date).
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Class E Subordinated Notes then Outstanding have received an Internal Rate of Return of at least 12.0 per cent.
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Subordinated Notes Outstanding have received an Internal Rate of Return of at least 12 per cent. (calculated on an annualised basis and on the basis of the actual number of days divided by 365) on the initial principal amount of the Class F Subordinated Notes from the Issue Date to the relevant Payment Date.
More Definitions of Incentive Investment Management Fee IRR Threshold
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Class M Subordinated Notes Outstanding have received an annualised internal rate of return (computed using the “XIRR” function in Microsoft® Excel 2003 or an equivalent function in another software package and assuming for this purpose that all Class M Subordinated Notes were purchased on the Closing Date at a price equal to 100% of the principal amount thereof) of at least 12% on the Principal Amount Outstanding of the Class M Subordinated Notes as of the first day of the Due Period preceding such Payment Date (after giving effect to all payments in respect of the Class M Subordinated Notes to be made on such Payment Date).
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Class D Subordinated Notes have received an annualised Internal Rate of Return compounded quarterly (computed using the "XIRR" function in Microsoft® Excel 97 or an equivalent function in another software package) of at least 12 per cent. on the initial aggregate principal amount of the Class D Subordinated Notes.
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Subordinated Notes Outstanding have received an annualised internal rate of return (computed using the “XIRR” function in Microsoft® Excel 97 or an equivalent function in another software package and assuming for this purpose that all the Subordinated Notes were purchased on the Closing Date at a price equal to 100 per cent. of the principal amount thereof) of at least 15 per cent. on the Principal Amount Outstanding of the Subordinated Notes as of the first day of the Due Period preceding such Payment Date (after giving effect to all payments in respect of the Subordinated Notes to be made on such Payment Date) other than any amounts specified at paragraph (V)(ii) of the Interest Proceeds Priority of Payments and any other amounts specified to be payable after or at the same time as the Incentive Investment Management Fee.
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the NAV Valuation Date preceding the relevant Interest Payment Date if the Notes then Outstanding have received an IRR of at least EURIBOR plus three per cent. (3%) during the period starting on the Initial Issue Date and ending on the NAV Valuation Date immediately preceding the relevant Interest Payment Date provided that for this purpose, (a) EURIBOR constitutes the weighted average of the EURIBOR at the start of such period, at the end of such period, and at each NAV Valuation Date within such period, and (b) the Portfolio NAV shall be calculated for this purpose on each of such dates.
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Subordinated Notes Outstanding have received an IRR of least 12 per cent. on the Principal Amount Outstanding of the Subordinated Notes as of the first day of the Due Period preceding such Payment Date (after giving effect to all payments in respect of the Subordinated Notes to be made on such Payment Date) and assuming for such purpose that all Subordinated Notes were issued at a price equal to the Subordinated Notes Issue Price Percentage.
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Class P Participating Notes then Outstanding have received an Internal Rate of Return of at least 10 per cent.See the definition of “Incentive Investment Management Fee” in Condition 1 (Definitions) and “Description of the Investment Security for the Notes Purchase of Collateral Debt ObligationsManagement Agreement – Fees”. The Notes will be secured by security over a portfolio of Collateral Debt Obligations predominantly consisting of U.S. Dollar and non-U.S. Dollar denominated Senior Loans, High Yield Bonds, Second Lien Loans and Mezzanine Obligations of various borrowers in Qualifying Countries. The Notes will also be secured by various of the Issuer’s other rights, including its rights under certain of the agreements described herein, but excluding, inter alia, its rights in respect of the Issuer Dutch Account, any and all amounts standing to the credit thereof and its rights in respect of the Management Agreement.As at the Issue Date: As at the Issue Date, the Investment Manager (on behalf of theIssuer) expects to have purchased (or entered into binding commitments to purchase) Collateral Debt Obligations with an Aggregate Principal Balance of approximately U.S.$280,000,000 which shall represent approximately 70 per cent. of the sum of the Principal Balances of Collateral Debt Obligations the Investment Manager (on behalf of the Issuer) expects to have purchased (or entered into agreements to purchase) by the Effective Date, being U.S.$400,000,000 (the “Target Par Amount”). See “The Portfolio – Acquisition of Collateral Debt Obligations.”Initial Investment Period: The Investment Manager (on behalf of the Issuer) shall use allcommercially reasonable endeavours to purchase Collateral Debt Obligations which in aggregate satisfy the Effective Date Requirements during the period from and including the Issue Date to but excluding the Effective Date (the “Initial Investment Period”).For the purpose of determining compliance with the Effective Date Requirements, (i) repayments or prepayments of any Collateral Debt Obligations subsequent to the date of acquisition shall be disregarded (only as long as such repayments or prepayments are not reinvested by the Investment Manager on behalf of the Issuer), (ii) the Principal Balance of a Collateral Debt Obligation which is a Defaulted Obligation will be the lower of its S&P Collateral Value and its Moody’s Collateral Value, (iii) C...
Incentive Investment Management Fee IRR Threshold means the threshold which will have been reached on the relevant Payment Date if the Subordinated Notes Outstanding have received an Internal Rate of Return of at least 12 per cent. (calculated on an annualised basis and on the basis of the actual number of days divided by 365) on the initial principal amount of the Class F Subordinated Notes from the Closing Date to the relevant Payment Date.