Minimum IRR definition

Minimum IRR means, as of any measurement date: (a) prior to the fifth anniversary of the Series A Issuance Date, a 13.0% IRR with respect to such Series A Preferred Unit; (b) on or after the fifth anniversary of the Series A Issuance Date and prior to the sixth anniversary of the Series A Issuance Date, a 14.0% IRR with respect to such Series A Preferred Unit; and (c) on or after the sixth anniversary of the Series A Issuance Date, a 15.0% IRR with respect to such Series A Preferred Unit.
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Minimum IRR means an IRR for the full Royalty Term equal to seventy percent (70%) of the Target IRR.
Sample 1

Examples of Minimum IRR in a sentence

  • Only upon the occurrence of a Liquidity Event (as hereinafter defined) that results in OCO achieving an overall IRR (as hereinafter defined) of 15% on its investment in the Portfolio Company (as hereinafter defined) as at such time (a "Minimum IRR"), vested options will become exercisable and any options included in the Original Option that have not vested will accelerate and become immediately vested and exercisable.

  • Executive hereby agrees that the Option Agreement to be entered into with the Company with respect to the Rollover Options will have such terms and conditions as the Company shall reasonably request and, further, Executive shall forego the exercise of such Rollover Options until the occurrence of a Liquidity Event that results in the realization of the Minimum IRR by OCO.

  • The following are the basic assumptions are to be used in this analysis: • Calculate over a 20-year period.• Use a 7.75% discount rate.• Loan amount = lump sum construction costs less incentives• Minimum IRR = 10%• Positive cash flow required starting in year 2.• Assume that the County finance up to $3,000,000 of the project cost using a loan from the California Energy Commission with an interest rate of 3.95%, and a repayment period of 15 years.

  • The Company and the Vendor have undertaken that if the Exit Event was to occur prior to or after the Extended Exit Date at such price which gives rise to a resultant internal rate of return (“Resultant IRR”) to the Purchaser below the Minimum IRR, the Company and the Vendor will be obliged to compensate the Purchaser an amount equivalent to the difference between the Minimum IRR and the Resultant IRR.

  • Item 2 Minimum IRR required on the project Item 3 Minimum Savings to be identified (kWh/GJ/kL) (must equate to at least 75% of the financial savings identified in the Proposal).

  • It should be emphasised that all companies in the sample disclose some information (Minimum IRR = 0.07).Table 3 Statistical descriptive Notes:LMC is the logarithm of market capitalisation LEV is the total debt ratio per market capitalisation.

  • Schedule 2.3(b) sets forth the calculation of the Purchase Price excluding the Assumed Liabilities and the RandM Assets Purchase Price and details the calculations for Free Cash Flow and the Purchaser’s Minimum IRR.

  • Such options shall vest 25% on the second anniversary after the date of grant and 75% on the third anniversary after the date of grant and shall otherwise be subject to a Stock Option Award Agreement in substantially the form of the Stock Option Agreement, but shall only become exercisable upon a Liquidity Event that results in OCO achieving a Minimum IRR.

  • Minimum Return" means the amount which, when paid to the Holder and added to prior payments of principal and Fixed Interest made by the Maker under the Note, will cause the Holder to have received on a Prepayment Date or the Maturity Date a yield having an Internal Rate of Return equal to the Minimum IRR Rate effective on such Prepayment Date or the Maturity Date.

Related to Minimum IRR

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Minimum Cash Balance means a cash balance to be held by the Debtors on the Effective Date in an amount equal to $75 million plus any amounts received on account of GCI (as defined in the Uniti Term Sheet) reimbursements and Cash Payments (as defined in the Uniti Term Sheet) received by the Debtors on or before the Effective Date.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Minimum Transfer Amount means, with respect to a party, the amount specified as such for that party in Paragraph 13; if no amount is specified, zero.