Distribution Rate. If the distribution rate per annum on the 7.00% Series A Preferred Units issued by the Issuer shall increase pursuant to Section 16.6 of the Issuer Limited Partnership Agreement, then the Distribution Rate shall increase by the same amount beginning on the same date as set forth in Article XVI of the Issuer Limited Partnership Agreement.
Distribution Rate. (a) During the Initial Fixed Rate Period, the Distribution Rate shall be the Initial Distribution Rate.
Distribution Rate. (i) Each Series A Holder will be entitled to receive, with respect to each Series A Preferred Share held by such Series A Holder, only when, as, and if declared by the Board of Directors, out of funds legally available for such purpose, cumulative cash distributions based on the Series A Liquidation Preference, at a rate equal to (i) from, and including, September 12, 2019 to, but excluding, September 15, 2024 (the “Fixed Rate Period”), 8.25% per annum, and (ii) beginning September 15, 2024 (the “Floating Rate Period”), Three-Month LIBOR plus a spread of 688.6 basis points per annum.
Distribution Rate. If the dividend rate per annum on the Series B Preferred Stock issued by the Issuer shall increase pursuant to Section 22.06 of the Issuer Certificate of Incorporation, then the Distribution Rate shall increase by the same amount beginning on the same date as set forth in Section 22.06 of the Issuer Certificate of Incorporation.
Distribution Rate. The Preferred Return shall accrue at a per annum rate of 13.0% initially (the “Fixed Distribution Rate”). At the fifth (5th) anniversary of the Closing Date, the Requisite Class P Members may make a one-time irrevocable election (the “Floating Rate Election”) for all outstanding Class P Units to accrue Preferred Return from and after the fifth (5th) anniversary at a rate equal to the five-year Treasury Rate, plus 1,000 basis points, resetting quarterly to reflect the then current five-year Treasury Rate (the “Floating Distribution Rate”). The Floating Rate Election shall be made by means of a written notice delivered, in accordance with Section 11.02 of the LLC Agreement, by the Requisite Class P Members to the Company at any time during the thirty (30) days immediately prior to the fifth (5th) anniversary of the Closing Date, and the Company shall promptly notify all non-electing Holders of such election. On the seventh (7th), eighth (8th) and ninth (9th) anniversaries of the Closing Date, the Fixed Distribution Rate or, if the Floating Distribution Rate is then applicable, the spread over the then applicable five-year Treasury Rate, will increase by 100 basis points per annum, 100 basis points per annum and 50 basis points per annum, respectively.
Distribution Rate. 20 -------------- ----------------- Section 4.03.
Distribution Rate. The Trust Agreement (including Annex I and the Exhibits thereto) is hereby amended by replacing each reference to "150 basis points" therein by a reference to "566 basis points". Such amended Distribution Rate shall be effective on and as of April 1, 2001.
Distribution Rate. The rate for transmission service provided under this Agreement over facilities designated as the Non-ISO Controlled Grid. The Distribution Rate is specified in Section 8.1.
Distribution Rate. Each Series C Holder will be entitled to receive, with respect to each Series C Preferred Share held by such Series C Holder, only when, as, and if declared by the Board of Directors, out of funds legally available for such purpose, cumulative cash distributions based on the Series C Liquidation Preference, at a rate (the “Distribution Rate”) equal to (i) for each Distribution Period from, and including, March 25, 2021 to, but excluding, the First Reset Date, 8.25% per annum, and (ii) for each Distribution Period beginning on the First Reset Date, during each Reset Period, the Five-Year Treasury Rate as of the most recent Reset Distribution Determination Date plus a spread of 737.8 basis points per annum; provided that if the Five-Year Treasury Rate for any Distribution Period described in this clause (ii) cannot be determined pursuant to the definition of “Five-Year Treasury Rate,” the Distribution Rate for such Distribution Period will be the same as the Distribution Rate determined for the immediately preceding Distribution Period.
