Net New Profits definition

Net New Profits means the increase in the Net Asset Value of the Class A and B Shares as at the final Valuation Day of the relevant quarter when compared with the Net Asset Value of the relevant class as at the final Valuation Day of the last quarter in respect of which a performance fee was payable to the Administrative Coordinator determined after adjustment to reflect the subscription for and redemption of Shares in the relevant class and after the deduction of fees and expenses accrued but not paid (with the exception of accrued performance fees). As Net New Profits are determined by reference to the last Valuation Day of the last quarter in respect of which a performance fee was payable to the Administrative Coordinator, no performance fee will be accrued or payable until all prior losses attributable to the relevant class have been recouped in full ("high watermark" system).
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Net New Profits means the increase in the Net Asset Value of the Class A, B, C, O Shares as at the final Valuation Day of the relevant quarter when compared with the Net Asset Value of the relevant class as at the final Valuation Day of the last quarter in respect of which a performance fee was payable to the Administrative Coordinator determined after adjustment to reflect the
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Examples of Net New Profits in a sentence

  • The Master Fund shall pay the Sub-Manager a performance fee from the Sub-Account that is accrued monthly and payable quarterly in arrears equal to the percentage set forth in the attached Addendum of the Net New Profits (as defined below), if any, attributable to the Allocated Assets for each Performance Period (as defined herein) (the “Performance Fee“).

  • If any incentive allocation is paid by a Limited Partner to the General Partner in respect of Net New Profits in such Limited Partner's Capital Account and a loss is subsequently charged to such Capital Account, the General Partner shall be entitled to retain the incentive allocations previously paid in respect to such Capital Account.

  • The Master Fund shall pay the Sub-Manager a performance fee from the Sub-Account that is accrued monthly and payable quarterly in arrears equal to the percentage set forth in the attached Addendum of the Net New Profits (as defined below), if any, attributable to the Allocated Assets for each Performance Period (as defined herein) (the “Performance Fee”).

  • The Client will pay Hoshen a performance fee based on Net New Profits (as defined below) attributable to the Account at the rates set forth in the Schedule of Fees attached hereto as Schedule I.

  • If Net New Profits for any quarter are negative, that negative amount will be the carryforward loss for the following quarter and must be recouped before an incentive fee is payable.

  • Net New Profits are: (a) the sum of the net of realized profits and losses during the quarter, plus the change in unrealized profits and losses on open positions during the quarter, plus dividend and interest income for the quarter, minus (b) the sum of all paid and accrued commissions, fees and expenses (other than the incentive fees), less the total of any carryforward losses, as defined below, as of the beginning of the quarter.

  • In the event Client makes a partial withdrawal during any quarter or period in which a carryforward loss exists at the beginning of the quarter or such period, the carryforward loss will be reduced (solely for the purpose of computing Net New Profits) proportionally to the withdrawal.