Promoted Interest definition

Promoted Interest means an interest in a Hotel Investment Entity, or other Contractual Right, that represents a right to participate in profits, losses, and gains of the Hotel Investment Entity in excess of amounts attributable to the percentage of capital contributions made by the Company and its subsidiaries in the Hotel Investment Entity. For the avoidance of doubt, an incentive management fee or other amount measured by a percentage of gross revenues, gross operating profit, net house profit, or similar performance measure and payable to the Company or any entity holding such Interests as compensation for the performance of management services shall not be a Promoted Interest .

Promoted Interest has the meaning ascribed to it in Article 2.2.

Promoted Interest means the portion of the interest in the Company represented by distributions made or to be made to Sponsor under Section 6.1(a)(iii)(b) or 6.1(b)(v)(b), as applicable.

Examples of Promoted Interest in a sentence

• Prior to the Initial Closing of the first transaction in which the Company or any entity will receive an Eligible Promoted Interest after the Effective Date, the Company will organize Promote Pool LLC and enter into the LLC Agreement.

• The LLC Agreement, or any term or provision thereof, may be amended, waived, modified or supplemented from time to time by the Managing Member in its sole discretion; provided that any amendment to the provisions relating to the distribution of Promoted Interest Proceeds or the defined terms used therein that would materially adversely affect the rights or obligations of the holders of Employee Units granted hereunder shall require the consent of each Employee Member adversely affected thereby.

• Following the receipt by Promote Pool LLC or any of its wholly-owned subsidiaries of any Promoted Interest Proceeds, Promote Pool LLC shall distribute such Promoted Interest Proceeds to the Members in accordance with the terms and conditions of the LLC Agreement.

• At the Initial Closing with respect to any Eligible Promoted Interest, Promote Pool LLC (or a wholly owned subsidiary thereof) will become a member or partner in, or acquire a Contractual Right with respect to, the applicable Hotel Investment Entity and, in that capacity, will acquire the Eligible Promoted Interest, or the Operating Company (or a subsidiary thereof) shall contribute the Eligible Promoted Interest to Promote Pool LLC.

• The portion of the Bonus Pool Units issued to Employee Members concurrently with the Initial Closing shall, as of such date, represent an aggregate interest in the applicable Eligible Promoted Interest equal to the Designated Participation Percentage with respect to such series of Bonus Pool Units.

More Definitions of Promoted Interest

Promoted Interest has the meaning set forth in Section 7.1(b).

Promoted Interest means any and all distributions to Chatham pursuant to clause (iv), (v) or (vi) above, in excess of the distributions that Chatham would have otherwise been entitled to receive had such distribution been made in accordance with the Members’ respective Percentage Interests.

Promoted Interest shall have the meaning set forth in Section 3.4(d).

Promoted Interest means a Person's right to receive any equity interest in, or percentage of the cash flow or profits of, an enterprise in excess of the amount of equity or percentage attributable to such Person's investment of cash or other property in such enterprise (i.e., a disproportionate share of equity, cash flow or profits when such Person's investment is compared to comparable investments of other investors in the enterprise).

Promoted Interest. With respect to any Development Project undertaken by Insignia/ESG on its own behalf without any partners, "Net Profits" shall mean the "Imputed Promote" as hereinafter defined. The Imputed Promote means the total amount actually received by Insignia/ESG with respect to a Development Project less the sum of a)100% of Insignia/ESG's original investment or capital contribution , any additional capital contributions, an imputed development cost of 1.75% of project costs and any costs reasonably allocated to such Development Project (the "Insignia Investment") plus an 10% return per annum thereon; and b) 75% of all additional amounts actually received by Insignia/ESG above the foregoing amounts (the "Insignia/ESG Minimum Return"). Notwithstanding anything to the contrary contained herein, Net Profits shall be reduced by any amounts paid to third parties , including but not limited to, payments to Avex or its affiliates in connection with the Development Projects known as One Telecom and Gateway One. For the purposes of this Agreement, any entity in which Insignia/ESG participates in ownership of a Development Project with a non-affiliated third party shall be deemed to be a "partnership" and such non-affiliated third party shall be deemed to be a "partner" irrespective of whether such entity is a general or limited partnership, joint venture, limited liability company, or other form of entity. Amounts payable with respect to the Net Profits Right, if any, shall be payable at any time that Net Profits (whether derived from a sale, refinancing or other disposition of all or part of any interest in a building, project or in or in respect of the partnership or other entity that serves as the owner thereof, as the case may be) are actually received by Insignia/ESG and shall include any sums distributed from time to time from the proceeds of net operating income. In calculating Insignia/ESG's return and the Insignia/ESG Minimum Return, any amounts to which Insignia/ESG receives or may be entitled which are compensation for performing services including, but not limited to, acquisition services, advisory, consulting, property management, asset management, leasing, construction supervision or management, development or development supervision, financing or refinancing or disposition services, will be excluded as proceeds in connection with such calculation. The right to receive payments with respect to the Net Profits Right described herein are solely a right to recei...

Promoted Interest means any interest held by the AH LLC or its Affiliates in the profits of a Joint Venture or Investment Vehicle which is in addition to or greater than AH LLC’s or its Affiliates’ pro rata interest in such Joint Venture or Investment Vehicle based on invested capital.

Promoted Interest is defined in Section 11.13.