Distribution Preference Clause Samples
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Distribution Preference. In any given year, if and when the Members may declare a distribution of any cash as dividend in accordance with the Korean Commercial Code (the “KCC”) and Section 13.7, such distribution shall be paid to the Members as follows:
(i) First, to SK in its capacity as Class B Unit holder, prior to and in preference to any payment of any other cash distribution on the Class B Units and Class A Units, until such holder has received the amount equal to the aggregate accrued and unpaid Agreed Return (the “Agreed Return Distribution Preference”);
(ii) Second, after the SK has received the Agreed Return Distribution Preference, to SK in its capacity as Class B Unit holder, prior to and in preference to any payment of any other cash distribution on the Class A Units, until SK has received the aggregate Outstanding SK Additional Contribution Amount, recouped as permitted by the KCC (the “SK Additional Contribution Settlement”);
(iii) Third, after SK in its capacity as the Class B Unit holder has received the SK Additional Contribution Settlement, to SK in its capacity as Class A Unit holder, prior to and in preference to any payment of any other cash distribution on the Class A Units, until it has received the Overage amount calculated pursuant to Section 6.5(a)(iii) that have not yet been received by distribution (the “Overage Distribution Preference” and together with the Agreed Return Distribution Preference and the SK Additional Contribution Preference, the “Distribution Preference”); and
(iv) Fourth, after SK in its capacity as Class A Unit holder has received the Overage Distribution Preference, to Bloom Energy and SK in their capacities as the holders of Class A Units on a pro-rata basis in accordance with their respective voting interests in Class A Units.
Distribution Preference. Payments under this Settlement will be distributed by email money transfer (“E-Transfer”) or cheque sent by mail. To receive a Base Payment (CAD$85.00), you must elect your preferred method of distribution. I will accept a Base Payment by E-Transfer: ☐ Yes ☐ No, I will accept a Base Payment by cheque
Distribution Preference. The Company shall not make any distributions to any other Members unless and until (i) the Company has paid all required Class B Distributions to the Class B Member and (ii) Vegas has paid all required Vegas Distributions to the holders of the Series B Preferred Shares.
Distribution Preference. The Series A Preferred Units accrue a distribution, payable in cash, of $2.00 per quarter, payable quarterly on or before the 50th day of each calendar quarter commencing on [ ], 2010.
Distribution Preference. A. Major Investors shall be entitled to Base Distributions as follows:
(i) First Priority Major Investors shall receive Base Distributions plus Fifteen percent (15.00%) bonus return for a total target return equal to One Hundred Twenty-Five percent (125%) of the Subscription Price in accordance with the terms of the Series Agreement.
(ii) Second Priority Major Investors shall receive Base Distributions plus Fifteen percent (15.00%) bonus return for a total target return equal to One Hundred Twenty-Five percent (125%) of the Subscription Price in accordance with the terms of the Series Agreement.
(iii) Third Priority Major Investors shall receive Base Distributions plus Ten percent (10.00%) bonus return for a total target return equal to One Hundred Twenty percent (120%) of the Subscription Price in accordance with the terms of the Series Agreement.
B. Early Bird Investors shall be entitled to Base Distributions as follows:
(i) Base Distributions plus the Early Bird Investor Return for total target return equal to One Hundred Fifteen percent (115%) of the Subscription Price in accordance with the terms of the Series Agreement.