Target Flip Date definition

Target Flip Date shall have, in respect of any IRR Partnership Flip Opco, the meaning given to the term “Target Flip Date” or to any other similarly defined term in the applicable Limited Liability Company Agreement of such IRR Partnership Flip Opco.
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Target Flip Date means with respect to a calculation to be performed on each Equity Capital Contribution Date, the date when the Members expect the Target IRR to be achieved by the Class A Equity Investors, which shall be the earlier of (a) the date specified in the most recent Fund Addendum and (b) twenty (20) years following the date of the first Capital Contribution made by a Member following the Effective Date with respect to capital contributions required by a Fund Company.
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Target Flip Date means with respect to a calculation to be performed on each Equity Capital Contribution Date, the date when the Members expect the Target IRR to be achieved by the Class A Equity Investors, which shall be the earlier of (a) the date specified in the most recent Fund Addendum and (b) the date that is two (2) calendar years preceding the last date on which any Project referenced in the Fund Base Case Model on such Equity Capital Contribution Date is subject to an offtake contract or lease with respect to the energy generated by such Project. Portions of this Exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Secretary of the Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934.
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Examples of Target Flip Date in a sentence

  • Period IV (Solar Project): If the Target IRR has not been achieved by the Solar Project Target Flip Date, then from the Solar Project Target Flip Date until the Flip Date, the Class A Member shall receive 99% of the cash and tax items and the Class B Members shall receive 1% of the cash and tax items.

  • Cash Distributions and Tax Allocations Wind Project Period I: Beginning at the Final Funding Date until the Target Flip Date, the Class A Member shall receive 20% of the cash items and 99% of the tax items, including the Production Tax Credits (PTC).

  • Period II (Solar Project): Beginning after the expiration of Period I until the Solar Project Target Flip Date, the Class A Member shall receive 20% of the cash and 67% of the tax items and the Class B Members shall receive 80% of the cash and 33% of the tax items.

  • Period III: If the Target IRR has not been achieved by the Target Flip Date, then from the Target Flip Date until the Flip Date, the Class A Member shall receive 99% of the cash and tax items and the Class B Members shall receive 1% of the cash and tax items.

  • The Target Flip Date is to be determined but may be as short as [nine] years.

  • Target Flip Date [INSERT DATE] Tax AssumptionsAll of the following to be finalized with appropriate revisions for each Fund Addendum.


More Definitions of Target Flip Date

Target Flip Date shall, in respect of a Tax Equity Fund, mean the date listed in respect of such Tax Equity Fund under Schedule 4.03(g), where applicable.
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Target Flip Date means December 31, 2022.
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Related to Target Flip Date

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • TARGET 2 means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007.

  • M2 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 81.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • M5 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 86.20% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) the Targeted Overcollateralization Amount.

  • M4 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 84.30% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) the Targeted Overcollateralization Amount.

  • Senior Target Amount With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 77.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Milestone Date means the date set against the relevant Milestone in the Implementation Plan;

  • Target Value shall have the meaning stated in Section 7.2 of Schedule D to this Agreement.

  • Target Price means the estimated amount payable to the Contractor for the performance of the Work under a Cost Plus Fixed Fee (CPFF) Contract.

  • KPI Target means the acceptable performance level for a KPI as set out in each KPI;

  • True-Up Date means the date which is forty-five (45) days after the latest to occur of the Termination Date of this Agreement, the Termination Date of the Commercial Agreement or disposition of all Assets pursuant to this Agreement or the Commercial Agreement.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Step-Up Date The first Distribution Date following the first Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans, and properties acquired in respect thereof, remaining in the Trust Fund has been reduced to less than or equal to 10% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Target Amount is defined in Section 4.3(b)(i).

  • Scheduled Commissioning Date or “SCD” of the Project shall mean [Insert Date];

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • Milestone Event has the meaning set forth in Section 8.2.1.

  • Development Milestone Event has the meaning set forth in Section 7.2.1.

  • Target Closing Date means three (3) Business Days following receipt of the Approval and Vesting Order, or such other date as the Parties may agree.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Target Share means any share of the Common Stock, par value $.01 per share, of the Target.