Second Incentive Threshold Event definition

Second Incentive Threshold Event shall have the meaning given in Section 6.6(b)(iii).
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Second Incentive Threshold Event shall occur as of a Distribution Date if (A) the aggregate distributions made to the Private Owner pursuant to Section 6.6(b)(ii) as of such Distribution Date is equal to or greater than the product of two and one-half (2.5) and the Incentive Threshold Base Amount, and (B) the Incentive Threshold as of such Distribution Date (determined based on the Threshold Increase Amount for the Second Incentive Threshold Event) is equal to zero.
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Examples of Second Incentive Threshold Event in a sentence

  • Following the occurrence of the Second Incentive Threshold Event, the Private Owner shall own thirty percent (30%) of the issued and outstanding LLC Interests and the Initial Member shall own seventy percent (70%) of such LLC Interests.

  • Following the occurrence of the First Incentive Threshold Event and prior to the occurrence of the Second Incentive Threshold Event as described in Section 6.6(b)(iii), the Private Owner shall own thirty-five percent (35%) of the issued and outstanding LLC Interests and the Initial Member shall own sixty-five percent (65%) of such LLC Interests.

  • The “Second Incentive Threshold Event” shall occur as of a Distribution Date if (A) the aggregate distributions made to the Private Owner pursuant to Section 6.6(b)(ii) as of such Distribution Date is equal to or greater than the product of two and one-half (2.5) and the Incentive Threshold Base Amount, and (B) the Incentive Threshold as of such Distribution Date (determined based on the Threshold Increase Amount for the Second Incentive Threshold Event) is equal to zero.

  • For the avoidance of doubt, the effects of any of this Section 4.6(h) and Section 4.6(g) above shall be disregarded for purposes of calculations with respect to the First Incentive Threshold Event and the Second Incentive Threshold Event.

  • Y/N SECOND INCENTIVE THRESHOLD EVENT Occurs as of a Distribution Date if: (a) the aggregate distributions made to the Private Owner in respect of its LLC interest are equal to or greater than 2.5 times the Incentive Threshold Base Amount and (b) the Incentive Threshold (for Second Incentive Threshold Event) is equal to zero.

Related to Second Incentive Threshold Event

  • Potential Adjustment Event means any of the following:

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Index Adjustment Event means, in respect of the Index, an Administrator/Benchmark Event, an Index Cancellation, an Index Disruption or an Index Modification.

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Post-Closing Period means any taxable period (or portion thereof) beginning after the Closing Date.

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • Stated Threshold means total losses under the shared loss agreements in the amount of $110,000,000.00.

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Change in Control Price means the highest price per share of Stock offered in conjunction with any transaction resulting in a Change in Control (as determined in good faith by the Committee if any part of the offered price is payable other than in cash) or, in the case of a Change in Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of the Stock on any of the 30 trading days immediately preceding the date on which a Change in Control occurs.