Cash IRR Distribution Question

[Chris F.]

Can you help me understand how IRR yield distribution works in a promote?

As I understand, IRR is a return over a period of time, so how does that translate to a single month which can only look at a net cash on cash return to hit?

Is it from day 0 up to that month? So like if I am looking to distribute on month 3 and up to that point we hit 7% IRR then it hits the promote?