DEFINITION AND CALCULATION OF IRR DEFICIENCY Clause Samples

The 'Definition and Calculation of IRR Deficiency' clause establishes how to determine whether the internal rate of return (IRR) for an investment or project falls short of a specified target. It typically outlines the formula or methodology for calculating the IRR, identifies the relevant cash flows and time periods, and specifies the benchmark IRR that must be met. This clause is essential for objectively measuring performance shortfalls and can trigger remedial actions or financial adjustments if the IRR deficiency is identified, thereby protecting stakeholders' interests and ensuring accountability.
POPULAR SAMPLE Copied 1 times
DEFINITION AND CALCULATION OF IRR DEFICIENCY. With respect to the applicable IRR Rate, the “IRR Deficiency” as of any particular date means the amount by which (1) the future value as of such date at such IRR Rate, compounded quarterly, of all Contributions made on or before such date (which shall include both such Contributions themselves and a quarterly compounded return on such Contributions using such IRR Rate), exceeds (2) the future value (as of such date) at such IRR Rate, compounded quarterly, of all Distributions for such IRR Rate (excluding, however, any Distribution to be made on such date and with respect to which such calculation is being made) made on or before such date (which shall include both such Distributions themselves and a quarterly compounded return on such Distributions using such IRR Rate). The “*** IRR Deficiency” is the IRR Deficiency using an IRR Rate of *** per annum, and the “*** IRR Deficiency” is the IRR Deficiency using an IRR Rate of *** per annum.
View SourceView Similar (2)
DEFINITION AND CALCULATION OF IRR DEFICIENCY. With respect to the applicable IRR Rate, the “IRR Deficiency” as of any particular date means the amount by which (1) the future value as of such date at such IRR Rate of all Contributions made on or before such date (which shall include both such Contributions themselves and a monthly compounded return on such Contributions using the applicable IRR Rate), exceeds (2) the future value (as of such date) at the applicable IRR Rate of all Distributions (excluding, however, any Distribution to be made on such date with respect to which such calculation is being made) made on or before such date (which shall include both such Distributions themselves and a monthly compounded return on such Distributions using the applicable IRR Rate). Accordingly, (i) the “9.25% IRR Deficiency” is the IRR Deficiency using the 9.25% IRR Rate and (ii) the “10.5% IRR Deficiency” is the IRR Deficiency using the 10.5% IRR Rate. An example of this calculation is attached hereto as Schedule 1. • Limited Liability Company Agreement of Cedar-Fieldstone, LLC, made by Cedar-Fieldstone SPE, LLC, dated as of November 9, 2005. • Amended and Restated Limited Liability Company Agreement of Cedar-Pennsboro, LLC, made by Cedar Shopping Centers Partnership, L.P., dated as February 13, 2006. • Limited Liability Company Agreement of Cedar-Stonehedge, LLC made by Cedar Shopping Centers Partnership, L.P., dated as of July ___, 2006 • Limited Liability Company Agreement of Cedar Hershey, LLC made by Cedar Shopping Centers Partnership, L.P., dated as of September 21, 2004 LIMITED PARTNERSHIP AGREEMENT OF [_____________________], LP1 This LIMITED PARTNERSHIP AGREEMENT (this “Agreement”) of [_____________________], LP (the “Partnership”) is made and entered into to be effective for all purposes as of the date of conversion of the Partnership from being a limited liability company to being a limited partnership on [_____________________], 2007 by [_____________________] GP, LLC, a Delaware limited liability company (“Cedar GP”), as the sole general partner (“General Partner”), [INSERT APPROPRIATE WHOLLY OWNED CEDAR ENTITY] (“Cedar LP”), as the sole limited partner, and such other persons as may from time to time be admitted as partners of the Partnership in accordance with the terms of this Agreement and the Delaware Act (as that term is hereinafter defined). As used in this Agreement, the term “Partner” (whether one or more) shall mean Cedar GP, Cedar LP and any other persons or entities admitted as a pa...
View SourceView Similar (2)
DEFINITION AND CALCULATION OF IRR DEFICIENCY. With respect to the applicable IRR Rate, the “IRR Deficiency” as of any particular date means the amount by which (1) the future value as of such date at such IRR Rate, compounded annually, of all Contributions made on or before such date (which shall include both such Contributions themselves and an annually compounded return on such Contributions using such IRR Rate), exceeds (2) the future value (as of such date) at such IRR Rate, compounded annually, of all Distributions for such IRR Rate (excluding, however, any Distribution to be made on such date and with respect to which such calculation is being made) made on or before such date (which
View Source
DEFINITION AND CALCULATION OF IRR DEFICIENCY. With respect to the applicable IRR Rate, the “IRR Deficiency” as of any particular date means the amount by which (1) the future value as of such date at such IRR Rate, compounded annually, of all Contributions made on or before such date (which shall include both such Contributions themselves and an annually compounded return on such Contributions using such IRR Rate), exceeds (2) the future value (as of such date) at such IRR Rate, compounded annually, of all Distributions for such IRR Rate (excluding, however, any Distribution to be made on such date and with respect to which such calculation is being made) made on or before such date (which shall include both such Distributions themselves and an annually compounded return on such Distributions using such IRR Rate). The “15% IRR Deficiency” is the IRR Deficiency using an IRR Rate of 15% per annum, the “20% IRR Deficiency” is the IRR Deficiency using an IRR Rate of 20% per annum, and the “25% IRR Deficiency” is the IRR Deficiency using an IRR Rate of 25% per annum. Subject to Section 5.1, Administrative Member’s responsibilities include: • Maintain/manage or cause to be maintained and managed at company expense LLC level documentation and procedures • Preparing an Operating Budget and Capital Budget) for BREA’s review and approval at least forty-five (45) days prior to commencement of each calendar year and making such changes thereto as the Members may approve • Coordinating and facilitating and/or causing the preparation of financial and operational reports, disclosures and statements required under the terms of any loan documents at company expense. • Monitor lender relationship • Prepare distribution recommendations • Prepare and deliver capital calls for approval • Determine and recommend to the Company and each Company Subsidiary most effective manner for property operations including internal management, third-party property management, third-party facilities management • Oversee third-party property, facilities, and/or financial managers, if any Administrative Member shall cause the Company and the Company Subsidiaries, at a minimum, to obtain and maintain, without interruption, the insurance or self insurance coverages stipulated hereunder for the benefit of the Company and the Company Subsidiaries and each Member, but only to the extent of such party’s interest in the Property:
View Source
DEFINITION AND CALCULATION OF IRR DEFICIENCY. With respect to the applicable IRR Rate, the “IRR Deficiency” as of any particular date means the amount by which (1) the future value as of such date at such IRR Rate of all Contributions made on or before such date (which shall include both such Contributions themselves and a monthly compounded return on such Contributions using the applicable IRR Rate), exceeds (2) the future value (as of such date) at the applicable IRR Rate of all Distributions (excluding, however, any Distribution to be made on such date with respect to which such calculation is being made) made on or before such date (which shall include both such Distributions themselves and a monthly compounded return on such Distributions using the applicable IRR Rate). Accordingly, (i) the “8.25% IRR Deficiency” is the IRR Deficiency using the 8.25% IRR Rate and (ii) the “12% IRR Deficiency” is the IRR Deficiency using the 12% IRR Rate. An example of this calculation is attached hereto as Schedule 1.
View Source
DEFINITION AND CALCULATION OF IRR DEFICIENCY. (a) The “Company IRR Deficiency” as of any particular date means the additional amount, if any, that would have to be distributed to the Investor in order to provide the Investor with an internal rate of return equal to the IRR Rate on such date. The Company IRR Deficiency is calculated by determining the additional amount, if any, that would have to be distributed to the Investor on such date to cause the net present value of all Contributions of the Investor and all Distributions to the Investor made on or before such date (excluding, however, any Distribution to the Investor to be made on such date and with respect to which such calculation is being made), discounted at the IRR Rate, to not be less than zero (0), or the calculation of the Investor’s internal rate of return based on said Contributions of the Investor and Distributions to the Investor to not be less than the IRR Rate. (b) The “Project IRR Deficiency” for a specific Project shall be the Company IRR Deficiency calculated as if that Project were the only asset of the Company. For these purposes: (i) Contributions of the Investor and Distributions to the Investor shall be attributed to a specific Project if they can be directly traced to that Project; and (ii) Contributions of the Investor and Distributions to the Investor that cannot be directly traced to a specific Project (including, without limitation, Contributions of the Investor made in connection with pursuing a proposed Project that was never actually acquired by the Company) shall be apportioned and allocated (as of the date such Contribution of the Investor or Distribution to the Investor is received or made) to each Project based on a fraction, the numerator of which is the total of all contributions to the capital of the Company theretofore made by the Members which are directly attributable to such Project, and the denominator of which is the total of all contributions to the capital of the Company theretofore made by the Member which are directly attributable to any Project (i.e., excluding any contributions to the capital of the Company not directly attributable to a specific Project). In applying the principals set forth in clause (ii) of the prior sentence, if the Contribution of the Investor or the Distribution to the Investor cannot be traced to a specific Project, but can be traced to a group (but less than all) of the Projects, clause (ii) shall be applied as if that group of Projects were all the Projects.
View Source

Related to DEFINITION AND CALCULATION OF IRR DEFICIENCY

  • CHANGES TO THE CALCULATION OF INTEREST 10.1 Absence of quotations

  • Definition of Overpayments For purposes of this CIA, an “Overpayment” shall mean the amount of money Ensign Group has received in excess of the amount due and payable under any Federal health care program requirements.

  • CERTIFICATION OF INDEPENDENT PRICE DETERMINATION By submission of this bid, the Bidder certifies, and in the case of a joint bid each party thereto certifies as to its own organization, that in connection with this procurement: A. The prices in this bid have been arrived at independently, without consultation, collusion, communication, or agreement for the purpose of restricting competition, as to any matter relating to such prices with any other bidder or with any competitor. B. Unless otherwise required by law, the prices which have been quoted in this bid have not been knowingly disclosed by the Bidder and will not knowingly be disclosed by the Bidder prior to opening, directly or indirectly to any other Bidder or to any competitor; and, C. No attempt has been made or shall be made by the Bidder to induce any other person or bidder to submit or not to submit a bid for the purpose of restricting competition.

  • Certain Calculations and Tests (a) Notwithstanding anything to the contrary herein, but subject to Sections 1.10(b) and (c) and Section 1.11, all financial ratios and tests (including the Total Leverage Ratio, the First Lien Leverage Ratio, the Secured Leverage Ratio, the Interest Coverage Ratio and the amount of Consolidated Total Assets and Consolidated Adjusted EBITDA) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect to such Test Period and each such Subject Transaction on a Pro Forma Basis. Further, if since the beginning of any such Test Period and on or prior to the date of any required calculation of any financial ratio or test (i) any Subject Transaction has occurred or (ii) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Borrower or any of its Restricted Subsidiaries or any joint venture since the beginning of such Test Period has consummated any Subject Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for such Test Period as if such Subject Transaction had occurred at the beginning of the applicable Test Period (it being understood, for the avoidance of doubt, that solely for purposes of (x) calculating compliance with Section 6.12(a) and (y) calculating the First Lien Leverage Ratio for purposes of the definitions of “Applicable Rate” and “Commitment Fee Rate”, in each case, no Subject Transaction occurring after the end of the relevant Test Period shall be taken into account). (b) For purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial ratio or test (including, without limitation, Section 6.12(a), any First Lien Leverage Ratio test, any Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Interest Coverage Ratio test, the amount of Consolidated Adjusted EBITDA and/or Consolidated Total Assets), such financial ratio or test shall be calculated at the time such action is taken (subject to Section 1.11), such change is made, such transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a change in such financial ratio or test occurring after the time such action is taken, such change is made, such transaction is consummated or such event occurs, as the case may be. (c) Notwithstanding anything to the contrary herein, with respect to any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement (including any covenant or the definition of “Incremental Cap”) that does not require compliance with a financial ratio or test (including, without limitation, Section 6.12(a), any First Lien Leverage Ratio test, any Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Interest Coverage Ratio test) (any such amounts, the “Fixed Amounts”) substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement (including any covenant or the definition of “Incremental Cap”) that requires compliance with a financial ratio or test (including, without limitation, Section 6.12(a), any First Lien Leverage Ratio test, any Secured Leverage Ratio test, any Total Leverage Ratio test and/or any Interest Coverage Ratio test) (any such amounts, the “Incurrence-Based Amounts”), it is understood and agreed that the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based Amounts.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.