Multiple on Invested Capital definition
Multiple on Invested Capital means, as of the date of any determination, the ratio of (a) the sum, without duplication, of (i) the aggregate amount of principal payments and amounts previously paid in cash, in each case in respect of the Note, in order to achieve the Base Return from the Closing Date through the date of determination by the Company in respect of the Loan, (ii) the aggregate amount of interest payments and commitment fees paid in cash, in each case in respect of the Note, from the Closing Date through the date of determination by the Company in respect of the Loan (other than any Post-Default Interest), and (iii) the aggregate amount of any upfront fees received by the Lender in cash in each respect of the Loan on the Closing Date or thereafter to (b) the aggregate principal amount of the Loan funded by the Lender from the Closing Date through such date of determination (without giving effect to any net funding in respect of any such Loan). For the avoidance of doubt, the calculation of Multiple on Invested Capital shall, in no event, take into account (x) any fees (other than the upfront fees as specified above) payable to the Lender, any syndication, co-investment, administration and similar fees or any other costs, fees, or third-party costs associated with any agent and/or the Lender’s evaluation, negotiation, or execution of the Note Documents or the monitoring or performance of any obligations under such Note Documents, regardless of whether such costs, fees or third-party costs are net funded from the proceeds of the Loan funded to the Company, (y) any profits, realized or unrealized, or other amounts received in connection with the Warrant and (z) any Post-Default Interest.
Multiple on Invested Capital means the total multiple (taking into account all allocations of profits and gains, net of all allocations of losses, deductions and nondeductible expenses) which is earned on the aggregate amount invested by the Sponsor for its Class A Units.
Multiple on Invested Capital. [Redacted].
Examples of Multiple on Invested Capital in a sentence
Upon receipt of such notice, the Borrower will, upon demand from the Lender, prepay the Outstanding Amount in full (together with the Multiple on Invested Capital and all other Obligations outstanding under the Loan Documents) or take any necessary steps in order to avoid the activity that is unlawful.
The Borrower expressly acknowledges that its agreement to pay the Multiple on Invested Capital as herein described is a material inducement to the Lender to provide the commitment to establish the Term Facility and to make the Loan available to the Borrower.
The Multiple on Invested Capital shall also be automatically and immediately due and payable if the Outstanding Amount is satisfied or released by realization on the Collateral or otherwise.
Without limiting the generality of the foregoing, it is understood and agreed that upon the occurrence of the Loan becoming due and payable prior to the Maturity Date for any reason (whether due to acceleration pursuant to this Agreement, by operation of law or otherwise), the Multiple on Invested Capital shall be automatically and immediately due and payable.
Accordingly, the Multiple on Invested Capital is provided by mutual agreement of the Borrower and the Lender as a reasonable estimation and calculation of such actual lost profits and other actual damages of the Lender.
More Definitions of Multiple on Invested Capital
Multiple on Invested Capital means the ratio of all cashflows expected to be generated from an Investment to the amount of such Investment.
Multiple on Invested Capital means, as of any date of determination a positive amount equal to [(TAP × .4) – (TR)] × (TLR ÷ TAP), where: TAP = the total aggregate principal amount of the Term Loans borrowed as of such date of determination. TR = the “Total Return”, which is the aggregate amount of interest payments (excluding any interest payments payable at the Default Rate pursuant to Section 3.02(c)) and fees received by the Lenders on or before such date of determination (including the Closing Fee and any Prepayment Fees, but excluding any return on or in respect of the Warrants). TLR = the total aggregate principal amount of the Term Loans repaid as of such date of determination.
Multiple on Invested Capital means, as of the date of any determination, the ratio of (a) the sum, without duplication, of (i) the aggregate amount of principal payments and amounts previously paid in cash, in each case in respect of the Note, in order to achieve the Base Return from the Closing Date through the date of determination by the Company in respect of the Loans, (ii) the aggregate amount of interest payments and commitment fees paid in cash, in each case in respect of the Note, from the Closing Date through the date of determination by the Company in respect of the Loans (other than any Post-
Multiple on Invested Capital with respect to the First Draw (or, in the case of any partial repayment, the portion thereof then being repaid) and will be achieved if the Multiple on Invested Capital with respect to the First Draw (or, in the case of any partial repayment, the portion thereof then being repaid) as of such date equals 1.25:1.00; provided that if a prepayment or Payment in Full of this Note occurs, the Multiple on Invested Capital required to achieve the Base Return with respect to the First Draw shall be reduced to (i) on or prior to the date that is four (4) months after the date on which the First Draw is funded, then with respect to the amount prepaid or the prepayment achieving Payment in Full, 1.06:1.00 or (ii) after the date that is four (4) months after the date on which the First Draw is funded but prior to the date that is twelve (12) months after the date on which the First Draw is funded, then with respect to the amount prepaid or the prepayment achieving Payment in Full, 1.10:1.00; (b) in respect of the Second Draw, the return on capital of the Lender as calculated pursuant to clause (a) of the definition of “Multiple on Invested Capital” with respect to the Second Draw (or, in the case of any partial repayment, the portion thereof then being repaid) and will be achieved if the Multiple on Invested Capital with respect to the Second Draw (or, in the case of any partial repayment, the portion thereof then being repaid) as of such date equals 1.25:1.00; provided that (1) if the Second Draw is funded within six (6) months of the date on which the First Draw is funded and a prepayment or Payment in Full of this Note occurs at any time thereafter, the Multiple on Invested Capital required to achieve the Base Return with respect 27 US-DOCS\168256212.4
Multiple on Invested Capital means, the quotient of (i) the sum of (A) the aggregate cash received by GA as proceeds on account of the Initial Shares in any of the Company or any “subsidiary corporation” within the meaning of Section 424(f) of the Code (collectively, the “Company Entities”) including without limitation cash received in the form of dividends, distributions or redemption payments from any of the Company Entities, (B) in connection with a Change of Control, the aggregate value of the equity of any Company Entities retained by GA and any securities or equity received by GA with respect to the Initial Shares, determined based on the same price per share received by GA in such transaction for the equity converted into cash in the transaction, or, if no cash was received in such transaction, the fair market value as determined in good faith by the Committee, and (C) in connection with a merger, sale or similar transaction with an entity other than any of the Company Entities, the aggregate value of any proceeds received by GA in respect of the Initial Shares in the form of a contingent right to receive cash and/or equity on or at a future date or time (such date of determination in this clause (C), the “Contingent Right Payment Date”); provided, however, any contingent rights, whether pursuant to an earnout, escrow or otherwise, shall be taken into account when, as and only if such rights are actually converted into cash and received by GA on the Contingent Right Payment Date; divided by (ii) the sum of (A) the Initial Investment and (B) all fees and expenses incurred by GA in connection with the transaction contemplated in the Agreement and Plan of Merger, dated as of December 11, 2018, by and among the Company, ▇▇▇▇▇▇▇ Merger Sub, Inc., ▇▇▇▇▇▇▇ Midco, LLC, Invoice Cloud, Inc. and Summit Representative, LLC, regardless of whether such fees and expenses are capitalized. For the avoidance of doubt, (1) securities or equity received by GA resulting from proceeds from the issuance of any debt security issued, or execution of any credit facility by the Company Entities, in each case, shall not for this purpose be considered for the purposes of determining the amount of the Initial Investment and (2) any loans made by GA to any of the Company Entities, and the repayment of any such loans, shall not be considered for any purposes of this Section 3(c). Notwithstanding the foregoing, if the vesting of any Option, taken together with the vesting of all other outstanding options to pu...
Multiple on Invested Capital. (MOIC) means as of the end of the applicable fiscal quarter, the sum of (x) the unrealized value of the fund; and (y) the value of all distributions made by the private fund; divided by the total capital contributed to the fund by its investors. “Gross Multiple on Invested Capital” (Gross MOIC) is calculated gross of all fees and expenses including Performance-Based Compensation borne by the private fund, and “Net Multiple on Invested Capital” (Net MOIC) is calculated net of all such items.
Multiple on Invested Capital means, as of the date of any determination, the ratio of (a) the sum, without duplication, of (i) the aggregate amount of principal payments and amounts 34