Reference NAV definition

Reference NAV means USD $7,677,000.

Reference NAV shall have the meaning set forth in Section 2.3(f).

Reference NAV means the greater of (i) NAV as at the end of the CalculationPeriod immediately preceding the current Calculation Period and(ii) the NAV as at the end of the Calculation Period immediately preceding the Calculation Period referred to in clause (i);

Examples of Reference NAV in a sentence

• However, the performance fee attributable to a Share that is redeemed at any time other than at a Calculation Date shall be based on the difference between the Closing NAV of such Share (before accrual of the performance fee) as of the end of the Dealing Day on which such Share is redeemed and the Reference NAV of such Share.

• However, the performance fee attributable to a Share that is redeemed at any t ime other than at a Calculation Date shall be based on the difference between the Closing NAV of such Share (b efore accrual of the performance fee) as of the end of the Dealing Day on which such Share is redeemed and the Reference NAV of such Share.

• As mentioned in section 5(a) above, the Reference NAV of each Terminating Share Class will take into account, amongst other expenses, all costs resulting from the realisation and liquidation of the remaining investments (e.g. the Primary Market Transaction Costs, the OTC Swap Transaction(s) and the Invested Assets (where applicable) of such Terminating Share Class.

• In the case of the “N” Share Classes, there is no benchmark return and a performance fee will b e payable in respect of the aggregate appreciation in value on each investor’s Shares in that Class, subject to the provisions above in respect of the Reference NAV.

• As mentioned in section 5(a) above, the Reference NAV of each Terminating Share Class will take into account, amongst other expenses, all costs resulting from the realisation and liquidation of the remaining investments of such Terminating Share Class.

• Shareholders receiving Distributions in the form of additional Shares will be treated for tax purposes as receiving a Distribution in the amount of cash that they would have received if they had elected to receive the Distribution in cash, unless the Fund issues additional Shares with a fair market value equal to or greater than the Reference NAV, in which case such Shareholders will be treated as receiving a Distribution in the amount of the fair market value of the distributed Shares.

• However, if the Actual NAV is lower than the Reference NAV, the Group will pay the Buyer the difference.

• In the event of termination of a Participant’s account under the Plan prior to an Exchange Listing, the Plan Administrator will adjust for any such undivided fractional interest in cash of the Reference NAV of the affected class of Shares at the time of termination.

• The Reference NAV in respect of such Available Shares shall b e the relevant Initial Offer Price.

• In accordance with the S&P Agreement, if the Actual NAV is greater than the Reference NAV, the Buyer will pay the Group the difference.

More Definitions of Reference NAV

Reference NAV means $[ ], which is the Class I NAV as of the end of the effective date of the Advisor RSU Agreement.

Reference NAV means the Net Asset Value per Public Share as at the Reference NAV Determination Date;