Common use of IRR Clause in Contracts

IRR. “IRR” shall mean, as of the relevant date, the annual, compounded internal rate of return achieved as of such date by the Principal Stockholders in respect of the Investment, which IRR shall be based on (i) the Liquidity Proceeds (in the case of Section 2.2(d)), (ii) the Realization Proceeds or Effective Proceeds, as applicable (in the case of Section 2.3(a)) or (iii) the Sale Proceeds (in the case of Section 2.2(e)), in each case of (i), (ii) or (iii), actually received or held by the Principal Stockholders as of the relevant date.

IRR. “IRR” shall mean, as of the relevant date, the annual, compounded internal rate of return achieved as of such date by the Principal Stockholders in respect of the Investment, which IRR shall be based on (i) the Liquidity Proceeds (in the case of Section 2.2(d)), (ii) the Realization Proceeds or Effective Proceeds, as applicable (in the case of Section 2.3(a)) 2.3 or (iii) the Sale Proceeds (in the case of Section 2.2(e)), in each case of (i), (ii) or (iii), actually received or held by the Principal Stockholders as of the relevant date.