SPV Profit

SPV Profit. Shall be determined in accordance with the following formula: Shares Transferred SPV Profit = Proceeds - Aggregate Cost x ---------------------- Shares Owned Where: "Proceeds" means the proceeds of the Preferred Stock Refinancing received by SPV in cash or other liquid assets plus dividends paid with respect to the Preferred Stock "Aggregate Cost" means the aggregate price paid by... SPV to acquire the Preferred Stock plus all brokerage fees and similar costs related to the acquisition and transfer of the Preferred Stock "Shares Transferred" means the number of shares of Preferred Stock transferred by SPV in the Preferred Stock Refinancing "Shares Owned" means the number of shares of Preferred Stock owned by the SPV at the time of the Preferred Stock Refinancing SPV Profit will not be reduced by any interest cost or taxes payable by the SPV. The date as of which the assets received are fully and unconditionally liquid shall determine the date that such refinancing has been completed. View More