Loss Recovery Account definition

Loss Recovery Account means a memorandum account to be recorded in the books and records of the Fund with respect to each Member, which shall have an initial balance of zero and which shall be adjusted as follows:

Loss Recovery Account means a Memorandum Account that tracks the losses that must be recouped before an Incentive Allocation can be made to the Capital Account of the General Partner with respect to a Capital Account of a Limited Partner.

Loss Recovery Account shall have the meaning as set forth in Section 4.1.3.3.

Examples of Loss Recovery Account in a sentence

• The amount of the balance in the Loss Recovery Account at the time of calculating the Incentive Allocation shall be the amount existing immediately prior to its reduction pursuant to the second clause of the second sentence of Section 5.03(c)(ii).

• For this purpose, pro rata portions of the Positive Allocation Change and the Preferred Return for the Allocation Period, and any balance in the Loss Recovery Account, shall be deemed associated with the portion of the Interest repurchased, and there shall be a corresponding reduction made in the Positive Allocation Change, Preferred Return and Loss Recovery Account balance (if any) associated with the remaining Interest.

• The Fund will also pay to the Adviser an incentive fee (the “Incentive Fee”) calculated and payable quarterly in arrears equal to 10% of the excess, if any, of (i) the net profits of the Fund for the relevant period over (ii) the then balance, if any, of the Loss Recovery Account (as defined below).

• For purposes of determining allocations, including calculating the Incentive Allocation and the balance in a Capital Account's Loss Recovery Account, any Investor-Related Taxes related to a Limited Partner shall be deemed distributed from the Capital Account(s) of such Limited Partner to such Limited Partner and shall not be deemed to be expenses that reduce Net Capital Appreciation, increase Net Capital Depreciation or increase the balance of the Loss Recovery Account.

• The school management team prepares the school calendar for the following school year by December of each year.

More Definitions of Loss Recovery Account

Loss Recovery Account means an account to be recorded by Third Point in the books and records of the Joint Venture with respect to each Participant that has an initial balance of zero and, thereafter, is adjusted as follows:

Loss Recovery Account shall have the meaning set forth in Annex A.

Loss Recovery Account refers to the memorandum account the Fund will maintain, which will have an initial balance of zero and will be (i) increased upon the close of each calendar quarter of the Fund by the amount of the net losses of the Fund for the quarter, before giving effect to any repurchases or distributions for such quarter, and (ii) decreased (but not below zero) upon the close of each calendar quarter by the amount of the net profits of the Fund for the quarter. For purposes of the Loss Recovery Account, the term “net losses” shall mean the amount by which (i) the sum of (A) the net asset value of the Fund as of the beginning of such quarter and (B) the aggregate issue price of shares of the Fund issued during such quarter (excluding any Shares of such Class issued in connection with the reinvestment of dividends paid, or other distributions made, by the Fund through the DRIP) exceeds (ii) the sum of (X) the net asset value of the Fund as of the end of such quarter, (Y) the aggregate repurchase price of all shares repurchased by the Fund during such quarter and (Z) the amount of dividends and other distributions paid in respect of the Fund during such quarter and not reinvested in additional shares through the DRIP. Shareholders will benefit from the Loss Recovery Account in proportion to their holdings of Shares. For purposes of the “net losses” calculation, the net asset value shall include unrealized appreciation or depreciation of investments and realized income and gains or losses and expenses (including offering and organizational expenses). Incentive Fees are accrued monthly and paid quarterly.

Loss Recovery Account means, in respect to each Sub-Capital Account, an account which is debited each financial year with the aggregate net capital depreciation, if any, allocated to such Sub-Capital Account for such fiscal year. NHC SLP LLC is not allocated any Incentive Allocation with respect to a

Loss Recovery Account. Loss Recovery Account is a memorandum account, the opening balance of which shall be zero. A separate Loss Recovery Account will be maintained for each of the Sub- Account I, Sub-Account II, and Sub- Account IV Managed Assets. At the end of each Calculation Period, the Loss Recovery Account will be adjusted as follows. For a given Calculation Period, if there is Excess Depreciation related to the Sub-Account I, Sub-Account II, or Sub-Account IV Managed Assets, that Sub-Accounts Loss Recovery Account will be increased by an amount equal to the Excess Depreciation. For a given Calculation Period, if there is Excess Appreciation of the Sub-Account I, Sub- Account II, or Sub-Account IV Managed Assets and the balance in that Sub-Accounts Loss Recovery Account is other than zero, the Loss Recovery Account will be reduced by an amount equal to the Excess Appreciation; provided, however, that each Sub- Accounts Loss Recovery Account cannot be reduced below zero.

Loss Recovery Account. Member," and "Shares."

Loss Recovery Account has the meaning set forth in Section 5.4(c) of this Agreement.