Adjusted Capital means cumulative gross proceeds generated by the Corporation from sales of shares of Common Stock (including proceeds from the Corporation’s distribution reinvestment plan) reduced for amounts paid for share repurchases pursuant to the Corporation’s share repurchase program. The calculation of the Subordinated Incentive Fee on Income for each quarter is as follows:
Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the Company’s Shares (including the Company’s distribution reinvestment plan), less (ii) distributions to investors that represent a return of capital and amounts paid for share repurchases pursuant to the Company’s share repurchase program. For purposes of computing the Incentive Fee, the calculation methodology will look through derivatives or swaps as if the Company owned the reference assets directly. Therefore, net interest, if any, associated with a derivative or swap (which represents the difference between (i) the interest income and fees received in respect of the reference assets of the derivative or swap and (ii) the interest expense paid by the Company to the derivative or swap counterparty) will be included in the calculation of quarterly pre-incentive fee net investment income for purposes of the Incentive Fee. The calculation of the Incentive Fee for each quarter is as follows: · No Incentive Fee shall be payable to the Adviser in any calendar quarter in which the Company’s pre-incentive fee net investment income does not exceed the preferred return rate of 1.75% (7.00% annualized) (the “Preferred Return”) on Adjusted Capital. · 100% of the Company’s pre-incentive fee net investment income, if any, that exceeds the Preferred Return, but is less than or equal to 2.1875% in any calendar quarter (8.75% annualized) shall be payable to the Adviser. This portion of the Company’s pre-incentive fee net investment income is referred to as the “catch-up.” The “catch-up” provision is intended to provide the Adviser with an incentive fee of 20.0% on all of the Company’s pre-incentive fee net investment income in any calendar quarter when the Company’s pre-incentive fee net investment income reaches 2.1875% in such calendar quarter (8.75% annualized). · 20.0% of the amount of the Company’s pre-incentive fee net investment income, if any, that exceeds 2.1875% in any calendar quarter (8.75% annualized) shall be payable to the Adviser once the Preferred Return is reached and the catch-up has been achieved (20.0% of the Company’s pre-incentive fee net investment income thereafter shall be allocated to the Adviser).
Adjusted Capital means (i) cumulative gross proceeds generated from sales of the Fund’s Shares, less (ii) distributions from non-liquidating dispositions of the Fund’s investments paid to shareholders.
Examples of Adjusted Capital in a sentence
The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704- 1(b)(2)(ii)(d) and shall be interpreted consistently therewith.
More Definitions of Adjusted Capital
Adjusted Capital means the following, as applicable: (i) statutory surplus for Reinsurers that report on a U.S. statutory reporting basis; (ii) GAAP equity minus deferred acquisition costs (DAC) for Reinsurers that report on a U.S. GAAP or Canadian GAAP basis; and (iii) "capital and surplus" for Reinsurers that report on any other accounting basis (including the International Accounting Standards (IAS) reporting basis).
Adjusted Capital is defined as the cumulative proceeds generated from the sales of the Company’s common stock, including proceeds from the Company’s distribution reinvestment plan, net of upfront sales load (up-front selling commissions and dealer manager fees) reduced for (1) distributions paid to the Company’s stockholders that represent a return of capital on a tax basis and (2) amounts paid for share repurchases pursuant to the Company’s share repurchase program, if any, measured at the end of the immediately preceding calendar quarter.
Adjusted Capital means the sum of (i) aggregate Partners' capital contributions to the Company, minus (ii) the aggregate amount of cash and any other property that has been distributed (or deemed distributed) as distributions of Partners' capital by the Company to the Partners from the proceeds of sales of the Systems as determined by the Corporate General Partner.
Adjusted Capital means the cumulative gross proceeds received by the Fund from the sale of the Fund's shares (including pursuant to the Fund's distribution reinvestment plan), reduced by amounts paid in connection with purchases of the Fund's shares pursuant to the Fund's share repurchase program. No incentive fee is payable in any calendar quarter in which the Fund's pre-incentive fee net investment income does not exceed the quarterly hurdle rate of 2.25%. For any calendar quarter in which the Fund's pre-incentive fee net investment income is greater than the hurdle rate, but less than or equal to 2.8125%, the incentive fee will equal the amount of the Fund's pre-incentive fee net investment income in excess of the hurdle rate. This portion of the Fund's pre-incentive fee net investment income which exceeds the hurdle but is less than or equal to 2.8125% is referred to as the "catch-up." The "catch-up" provision is intended to provide the Manager with an incentive fee of 20.0% on all of the Fund's pre-incentive fee net investment income when the Fund's pre-incentive fee net investment income reaches 2.8125% in any calendar quarter. For any calendar quarter in which the Fund's pre-incentive fee net investment income exceeds 2.8125% of adjusted capital, the incentive fee will equal 20.0% of pre-incentive fee net investment income.
Adjusted Capital means, as to any of the Reliance Standard Insurance Companies as of any date, the total amount shown on line 27, page 22, column 1 of the Annual Statement of each of the Reliance Standard Insurance Companies and, as to Safety National as of any date, the total amount shown on line 25, page 21, column 1 of the Annual Statement of Safety National, or, in each case, an amount determined in a consistent manner for any date other than one as of which an Annual Statement is prepared. "Administrative Agent" - see Preamble.
Adjusted Capital is defined as the cumulative gross proceeds received by the Fund from the sale of Fund shares (including pursuant to the Fund’s dividend reinvestment plan), reduced by amounts paid in connection with purchases of Fund shares pursuant to the Fund’s share repurchase program and further reduced by distributions representing a return of capital.
Adjusted Capital means the sum of (i) cumulative gross proceeds generated from issuances of the shares of our capital stock (including any distribution reinvestment plan), less (ii) distributions to our investors that represent a return of capital and amounts paid for share repurchases pursuant to any share repurchase program.