Hurdle Amount

Hurdle Amount. An amount equal to $243.8 million; provided that upon any redemption by the Company of Series AA Preferred Stock in accordance with the terms thereof, the Hurdle Amount shall be reduced by an amount equal to the aggregate Redemption Proceeds in connection with such redemption; provided, that in no event shall the Hurdle Amount be less than zero

Hurdle Amount. For any period during a calendar year means that amount that results in a 5% annualized internal rate of return on the NAV of the Performance Shares outstanding at the beginning of the then-current calendar year and all Performance Shares issued since the beginning of the then-current calendar year, taking into account the timing and amount of all Distributions accrued or paid (without duplication) on all such Performance Shares and all issuances of Performance Shares over the period and... calculated in accordance with recognized industry practices. The ending NAV of the Performance Shares used in calculating the internal rate of return will be calculated before giving effect to any allocation or accrual to the Performance Fee and any applicable Stockholder Servicing Fee expenses, provided that the calculation of the Hurdle Amount for any period will exclude any Performance Shares repurchased during such period, which Performance Shares will be subject to the Performance Fee upon such repurchase as described in Section 10(b). View More