IRR

IRR. The discount rate (expressed as an annualized percentage rounded to the nearest three decimal places and compounded on an annual basis in accordance with accepted financial practice) which, when used to calculate the net present value, as of June 30, 2005, of the difference between (i) all cash (other than any cash received from the sale of Liquid Securities) and/or Liquid Securities (valued at Fair Market Value as of the date received) received by Charlesbank from all Charlesbank Liquidation... Events minus (ii) all cash invested by Charlesbank in the Company with respect to the purchase of equity securities of the Company (other than equity securities repurchased by the Company pursuant to a Permitted Charlesbank Repurchase), causes such net present value to equal zero. The "XIRR" function of Microsoft Excel may be used to determine net present values under this definition. For purposes of calculating IRR, no payments or amounts received by Charlesbank from the Company and its Subsidiaries which (i) are not directly in respect of equity securities of the Company owned by Charlesbank (such as management fees, consulting fees or expenses reimbursements) or (ii) are received in connection with a Permitted Charlesbank Repurchase, shall be included in the calculation. View More

IRR. Means the average annual rate of return, calculated on the basis of monthly compounding, as reasonably determined by Castle Harlan in accordance with principles customarily used in the financial community in calculating internal rate of return on investment, with respect to the investment by Castle Harlan (and its Affiliates) in the Units of the LLC based solely on the net proceeds (but only to the extent constituting cash, cash equivalents or marketable securities (as such marketable... securities are valued in the reasonable judgment of Castle Harlan)) received by Castle Harlan (and its Affiliates), in their capacity as Unitholders, on a fully diluted basis for or on account of any such Units as a result of the applicable Distribution and all prior Distributions, after deduction of the proportionate share of any fees or expenses paid or payable by Castle Harlan (and its Affiliates) in respect of any transaction(s) that gave rise to such 2 Distributions. The IRR shall be calculated using the actual number of months elapsed between the date of the investments made by Castle Harlan (and its Affiliates) in the LLC and the date of the applicable Distribution, and should Castle Harlan (and its Affiliates) have invested additional amounts in the LLC, or received amounts of distributions from the LLC, since the Effective Time, the calculation of the IRR shall take into account such amounts as having been so invested or distributed, as the case may be, on the first day of the month in which Castle Harlan (and its Affiliates) makes such additional investment or receives such distribution, as the case may be. For purposes of the foregoing calculation, the IRR shall be rounded down to 1 decimal place. (For the avoidance of doubt, in no event shall any management fees or other similar fees received by Castle Harlan (or its Affiliates) be factored into the calculation of the IRR.) View More

IRR. Means an annually compounded internal rate of return to the Investors based on the applicable sale price in the Change in Control transaction that requires such computation and taking into account all Capital Contributions made by the Investors as of the date they were made, dividends, distributions, and other proceeds received by the Investors from the Company, but excluding (i) any distributions for the repayment of fees and expenses incurred by the Investors relating to their involvement in... the Company and (ii) any amounts paid to the Investors or any of them pursuant to the Financial Services Agreements, and taking into account the number of Profit Units outstanding under the LLC Agreement that are vested or will vest as a result of such Change in Control. View More

IRR. Shall mean the internal annual rate of return, calculated in a manner consistent with the "IRR" function in Microsoft Corporation's Excel spreadsheet software (based on a year of twelve thirty-day months), realized (or deemed to be realized) by the Holder on its investment pursuant to the Purchase Agreement in the Purchased Securities, such rate of return to be calculated on (i) the cash outflow consisting of the $22,000,000 paid for the Purchased Securities and (ii) the series of cash inflows... consisting of all amounts realized (or deemed to be realized) by the Holder in respect of the Purchased Securities. For purposes of such calculation, (A) the cash outflow and each cash inflow shall be deemed to have occurred on the last day of the calendar month in which it occurred, (B) except to the extent specifically provided herein, an amount shall not be treated as a cash inflow unless and until actually received in cash, (C) securities that are traded on a national securities exchange or the NASDAQ Stock Market that are received in the sale of Purchased Securities shall (unless earlier sold for cash) be deemed to result in a cash inflow on the Resale Day in an amount equal to the Current Market Price of such securities on such date, (D) Common Stock retained in a Liquidity Event shall (unless earlier sold for cash) be deemed to result in a cash inflow, on the later of (i) the date of the Liquidity Event and (ii) if securities were received in the Liquidity Event, the Resale Day, in an amount equal to the Current Market Price of such Common Stock on such date, and (E) in the case of a Qualified Public Offering, upon the Resale Day, the Holder shall be deemed to have realized a cash inflow equal to the Current Market Price of all Purchased Securities then held by it. View More

IRR. IRR as defined in the APT Holding LLC Agreement.

IRR. Shall mean, as determined by the Board based on an analysis provided by the Company's management, Blackstone's annually compounded internal rate of return based on the applicable sale price of Blackstone's aggregate investment in the Company taking into account all dividends, distributions, and other proceeds received by Blackstone, but excluding any fees paid to Blackstone pursuant to that certain Monitoring Agreement by and between the Company and Blackstone dated November 3, 2006, as amended... from time to time, or any successor thereto, and based on the assumption that all shares available for or subject to award under the Plan are outstanding shares of Company common stock. View More