We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Incentive Management Fee Threshold definition

Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the Holders of the Subordinated Notes have received an annualized internal rate of return (computed using the “XIRR” function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and an aggregate purchase price of 92% for the Subordinated Notes) of at least 12% on the outstanding investment in the Subordinated Notes as of such Payment Date after giving effect to all payments made or to be made on such Payment Date.
Incentive Management Fee Threshold means an amount equal to (a) Five Hundred Seventy-Five Thousand Dollars ($575,000) for the period between January 1, 2013 and December 31, 2013, (b) Seven Hundred Thousand Dollars ($700,000) for the period between January 1, 2014 and December 31, 2014; and (c) an amount each calendar year thereafter determined by taking an amount equal to the previous year’s amount and increasing the same by the lesser of (i) three percent (3%) and (ii) CPI, prorated for any partial Fee Year during the Term. At such time as certain existing real estate tax abatements expire in the future, the parties agree to adjust the foregoing thresholds to adjust for the loss of the same, dollar for dollar.
Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the payments on the Subordinated Notes amount to an annualized internal rate of return (computed using the “XIRR” function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and purchase price (assuming, for this purpose only, that all Subordinated Notes issued on the Closing Date were purchased at a price of 100% of the initial principal amount of the Subordinated Notes)) of at least 12.0% on the outstanding investment in the Subordinated Notes as of the such Payment Date, after giving effect to all payments made or to be made on such Payment Date.

Examples of Incentive Management Fee Threshold in a sentence

  • The Incentive Management Fee will not be payable on any Payment Date unless the Incentive Management Fee Threshold has been met.

  • The fee payable to the Collateral Manager, pursuant to the Priority of Payments, on each Payment Date on and after which the Incentive Management Fee Threshold has been met, in an amount equal to 20% of the remaining Interest Proceeds and Principal Proceeds, if any, after making the prior distributions on the relevant Payment Date in accordance with the Priority of Payments.

  • The fee payable to the Collateral Manager on each Payment Date on and after which the Incentive Management Fee Threshold has been met, pursuant to Section 8 of the Collateral Management Agreement and the Priority of Payments, in an amount equal to 20% of any remaining Interest Proceeds and Principal Proceeds, as applicable, on such Payment Date.

  • The Incentive Management Fee Threshold will be computed using the "XIRR" function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance of each Class of Notes and an aggregate purchase price of 96.1790% for the Subordinated Notes.

  • The fee payable to the Portfolio Manager, pursuant to Section 8 of the Portfolio Management Agreement and the Priority of Payments, on each Payment Date on and after which the Incentive Management Fee Threshold has been met, in an amount equal to 20.00% of any remaining Interest Proceeds and Principal Proceeds, as applicable, on such Payment Date pursuant to the Priority of Payments.


More Definitions of Incentive Management Fee Threshold

Incentive Management Fee Threshold. The XE "Incentive Management Fee Threshold" threshold that will be satisfied on any Payment Date if the payments on the Preferred Shares amount to an annualized internal rate of return (computed using the “XIRR” function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and purchase price (assuming, for this purpose only, that all Preferred Shares issued on the Closing Date were purchased at a price of 100% of the initial principal amount of the Preferred Shares) of at least 12.0% on the outstanding investment in the Preferred Shares as of such Payment Date, after giving effect to all payments made or to be made on such Payment Date.
Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the Holders of the Junior Subordinated Notes have received an annualized internal rate of return (computed using the "XIRR" function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and an aggregate purchase price of $28,937,250 for the Junior Subordinated Notes) of at least 12% on the outstanding investment in the Junior Subordinated Notes as of such Payment Date after giving effect to all payments made or to be made on such Payment Date.
Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the Holders of the Preferred Interests have received an annualized internal rate of return (computed using the “XIRR” function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and an aggregate purchase price for the Preferred Interests of 100% of their initial principal amount, and excluding the receipt of the Carlyle Holders Distribution Amounts, if any) of at least 12.0%, on the outstanding investment in the Preferred Interests as of such Payment Date (or such greater percentage threshold as the Collateral Manager may specify in its sole discretion on or prior to the first Payment Date following the Effective Date by written notice to the Issuer and the Trustee), after giving effect to all payments made or to be made in respect of the Preferred Interests on such Payment Date. Such calculation shall consider all Reinvestment Amounts transferred to the Reinvestment Amount Account on or prior to such Payment Date as payments on the related Preferred Interests (whether or not any relevant Reinvesting Holder continues to hold the applicable Preferred Interests).
Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the Incentive Threshold Return Percentage for such Payment Date equals or exceeds 12% on an annualized basis.
Incentive Management Fee Threshold. The threshold that will be satisfied on any Payment Date if the holders of the Subordinated Notes have received an annualized internal rate of return (computed using the "XIRR" function in Microsoft® Excel or an equivalent function in another software package and based on the respective dates of issuance and (x) for Subordinated Notes issued on the Closing Date, an aggregate purchase price for thesuch Subordinated Notes of 100.0% of their initial principal amount and (y) for Subordinated Notes issued after the Second Refinancing Date, the respective purchase price thereof on the date of issuance) of at least 12.0% on the outstanding investment in the Subordinated Notes as of such Payment Date (or such greater percentage threshold as the Collateral Manager may specify in its sole discretion on or prior to the first Payment Date following the Effective Date by written notice to the Issuer and the Trustee), after giving effect to all payments made or to be made in respect of the Subordinated Notes on such Payment Date. Such calculation shall consider all Reinvestment Amounts transferred to the Reinvestment Amount Account on or prior to such Payment Date as payments on the related Subordinated Notes (whether or not any relevant Reinvesting Holder continues to hold the applicable Subordinated Notes)For the avoidance of doubt, repayments to Contributors in respect of their Contributions are not included in the calculation of the Incentive Management Fee Threshold.
Incentive Management Fee Threshold has the meaning set forth in the Viceroy Agreement.
Incentive Management Fee Threshold means with respect to each Incentive Management Fee Payment Date, if the aggregate amount of distributions (whether on account of interest or principal or otherwise) paid in respect of the Class F Notes during the related Incentive Fee Period, including all amounts (whether on account of interest or principal or otherwise) due to be paid to the Class F Noteholders pursuant to the Priorities of Payment on the related Incentive Management Fee Payment Date divided by the original aggregate principal amount of the Class F Notes Outstanding (such quotient expressed as a percentage equals to or exceeds (i) 5 per cent. on first Incentive Management Fee Payment Date; (ii) 7.5 per cent. on the second Incentive Management Fee Payment Date; (iii) 10 per cent. on the third Incentive Management Fee Payment Date; (iv) 12.5 per cent. on the fourth Incentive Management Fee Payment Date and (v) 10 per cent. for each Incentive Management Fee Payment Date falling on or after Payment Date falling in April 2013.