Epstein Secrets

bution Dates on which funds are available therefor according to the Priority of Payments. The Investment Manager will also be entitled to receive an Investment Manager Incentive Fee Amount, subject to receipt by holders of the Subordinated Securities of certain returns, as described in the next paragraph.

ies pursuant to the Priority of Payments prior to such Distribution Date, would cause the holders of the Subordinated Securities to first achieve an Internal Rate of Return of 13% on the Aggregate Outstanding Amount of Subordinated Securities issued on the Closing Date. On any Distribution Date, the Investment Manager

similar to the Issuer will hold the same assets or perform in a similar manner. On each Distribution Date, the Investment Manager will be paid the Investment Manager Incentive Fee Amount to the extent of funds available in accordance with the Priority of Payments. The manner in which the Investment Manag

teral than the Issuer would otherwise make in order to increase the likelihood that the holders of the Subordinated Securities receive the specified Internal Rate of Return for the Investment Manager to be paid the Investment Manager Incentive Fee Amount. The Investment Manager and its Affiliates and portfolios managed

bution Dates on which funds are available therefor according to the Priority of Payments. The Investment Manager will also be entitled to receive an Investment Manager Incentive Fee Amount, subject to receipt by holders of the Subordinated Securities of certain returns, as described in the next paragraph.

ies pursuant to the Priority of Payments prior to such Distribution Date, would cause the holders of the Subordinated Securities to first achieve an Internal Rate of Return of 13% on the Aggregate Outstanding Amount of Subordinated Securities issued on the Closing Date. On any Distribution Date, the Investment Manager

by the Investment Manager as Interest Proceeds with respect to such Distribution Date. "Internal Rate of Return": For purposes of the definition of Investment Manager Incentive Fee Amount, the rate of return on the Subordinated Securities that would result in a net present value of zero, assuming (i) an or

oceeds of an Additional Equity Issuance that are designated by the Investment Manager as Interest Proceeds with respect to such Distribution Date. "Internal Rate of Return": For purposes of the definition of Investment Manager Incentive Fee Amount, the rate of return on the Subordinated Securities that would result in