Reference NAV definition
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.
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.
The Reference NAV in respect of such Available Shares shall b e the relevant Initial Offer Price.
The difference (on a dollar-for-dollar basis) exceeding USD 200,000 between (a) the Closing NAV and (b) the Reference NAV shall constitute the “Adjustment”.
The “Excess Proceeds” associated with a Portfolio Company shall be equal to the excess, if any, of (x) the cumulative Proceeds received by the Partnership in connection with the disposition of all Securities of such Portfolio Company over (y) the Reference NAV for such Portfolio Company.
The Estimated Purchase Price is based on the Reference NAV as per the Reference Accounts.
The Reference NAV for any Group A Portfolio Company or Group B Portfolio Company shall mean the sum of (a) the amount set forth opposite such Portfolio Company’s name in the “Reference NAV as of Formation Date” column on Schedule A or Schedule B, as applicable, and (b) the aggregate amount invested by the Partnership in such Portfolio Company after the signing date of the Transaction Agreement.
The performance fee in respect of such Classes shall be based on aggregate appreciation in the value of the relevant Classes, subject to the provisions in the “Portfolio Specific Information – Investment Objectives and Policies of the Man GLG Portfolios” and “Fees and Expenses” sections section regarding outperformance of the relevant Reference NAV.
For the avoidance of doubt, the Reference NAV for any Portfolio Company as of the signing date of the Transaction Agreement (as reflected on Schedule A and Schedule B, as applicable) represents the gross fair market value of such asset as of the signing date of the Transaction Agreement.