Third Performance Hurdle definition

Third Performance Hurdle means the Common Stock achieving an average closing stock price of at least $17.00 per share over 60 consecutive trading days on an Exchange.
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Third Performance Hurdle means, that the Holdings Unitholders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 245% of the aggregate Capital Contributions of such Unitholders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 268% of the aggregate Capital Contributions of such Unitholders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 291% of the aggregate Capital Contributions of such Unitholders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 314% of the aggregate Capital Contributions of such Unitholders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to 337% of the aggregate Capital Contributions of such Unitholders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate cash distributions pursuant to this Agreement equal to an amount that would produce a Holdings IRR equal to or in excess of 27.5%.
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Third Performance Hurdle means that the Target Holders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 300% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 325% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 350% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 375% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to 448% of the aggregate Capital Contributions and Dairy Holdings LLC Capital Contributions of Target Holders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement and the Dairy Holdings LLC Agreement) with respect to Combined Units equal to an amount that would produce a Target Holders' IRR equal to or in excess of 35%; it being understood that the terms contained in clauses (i) through (vi) of this definition shall remain constant and in effect throughout the periods indicated.
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Examples of Third Performance Hurdle in a sentence

  • Satisfaction of the Third Performance Hurdle after failure to satisfy the First Performance Hurdle and the Second Performance Hurdle• The whole of the Initial Holding will Vest with effect from the end of the Third Period (or, if the Third Performance Hurdle is met within 36 months of the Adoption Date, from the end of such 36 month period).• The Growth Share Amount applicable to such Vested B Ordinary Shares will be 10.0% of the Realisation Price less £5.1 million.

  • Satisfaction of the First Performance Hurdle, the Second Performance Hurdle and the Third Performance Hurdle• An additional, and final, one third of the Initial Holding will Vest with effect from the end of the Third Period (or, if the Third Performance Hurdle is met within 36 months of the Adoption Date, from the end of such 36 month period);• The Growth Share Amount applicable to such Vested B Ordinary Shares will be 3.33% of the Realisation Price less £5.1 million.


More Definitions of Third Performance Hurdle

Third Performance Hurdle means the Common Stock achieving an average closing stock price of at least $9.00 per share over 60 consecutive trading days on an Exchange.
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Third Performance Hurdle means that the Target Holders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 300% of the aggregate Capital Contributions of Target Holders, (ii) on or prior to the second anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 325% of the aggregate Capital Contributions of Target Holders, (iii) on or prior to the third anniversary of the date of this Agreement, aggregate distributions (pursuant to this Agreement) with respect to Class A Units equal to 350% of the aggregate Capital Contributions of Target Holders, (iv) on or prior to the fourth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 375% of the aggregate Capital Contributions of Target Holders, (v) on or prior to the fifth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 448% of the aggregate Capital Contributions of Target Holders or (vi) at any time after the fifth anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to an amount that would produce a Target Holders' IRR equal to or in excess of 35%; it being understood that the terms contained in clauses (i) through (vi) of this definition shall remain constant and in effect throughout the periods indicated.
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Third Performance Hurdle means that the Target Holders shall have received (i) on or prior to the first anniversary of the date of this Agreement, aggregate distributions with respect to Class A Units equal to 300% of the aggregate Capital Contributions of Target Holders,
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Related to Third Performance Hurdle

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Total Performance means that the entire Work, except those items arising from the provisions of any warranty, have been performed in accordance with the Contract;

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

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

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.

  • Key Performance Indicators or “KPIs” means the performance measurements and targets set out in Part 3 of Schedule 1 (Services) of this Framework Agreement;

  • Basket Performance means a decimal number calculated by applying the following formula: BP = ∑ W ×iX ⎛⎜⎜i=1 ⎝ Underlyingi,FINAL ⎞⎟⎠Underlyingi,INITIAL ⎟ where: BP = Basket Performance X = 8 Wi = Weighting of the relevant Underlying Underlying i,FINAL Underlying i,INITIAL= Arithmetic mean of the Reference Prices of the relevant Underlying with respect to all Averaging Dates = Initial Price of the relevant Underlying

  • Performance Date means December 31, 2025. If the Locality, in consultation with VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, on or before the Performance Date the Locality may request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Company and the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Performance Cash means any cash incentives granted pursuant to Article 9 payable to the Participant upon the achievement of such performance goals as the Committee shall establish.

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Index Performance means, in relation to an Index and an Auto-Call Valuation Date or the Valuation Date, as the case may be, a percentage calculated by the Calculation Agent in respect of such date in accordance with the following formula: Index Performance =Final Index Level × 100% Initial Index Level