Common use of Payment of Distributions Clause in Contracts

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 5 contracts

Samples: Regency Centers Lp, Regency Centers Lp, Regency Centers Lp

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Payment of Distributions. Subject to the rights of holders Holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders in accordance with Section 5.1, the General Partner, as holder of the Series A B Preferred Units shall Units, will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions per Series B Preferred Unit in an amount equal to the Series B Priority Return accrued thereon, at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unitapplicable rate, in accordance with this Section 17.2. Such distributions shall accrue and be cumulative, shall accrue cumulative from and including the original first date of issuance on which any REIT Series B Preferred Shares are issued (the “Series B Preferred Shares Original Issue Date”) and will be payable at the then applicable rate (Aeach a “Series B Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series B Preferred Shares Original Issue Date to December 31, 2010, on or before about December 31, 2010, (ii) except as provided in clause (iii), for each quarterly distribution period thereafter, quarterly in equal amounts in arrears on or about the last calendar day of each March, June, September and December, commencing on or about March 31, June 302011, September 30 and December 31 (iii) to the extent that any Series B Preferred Unit is redeemed pursuant to Section 4.7.B after a Series B Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of each year commencing on June 30, 1998 and, (B)such distribution, in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of any Series A B Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series B Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or other sum shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Preferred Unit Distribution Payment Date (to such next succeeding Business Day. Distributions will be payable on Series B Preferred Units outstanding at the "close of business on the applicable Series B Distribution Record Date. Each distribution is payable to holders of record of outstanding Series B Preferred Units as of the applicable Series B Distribution Record Date or date of redemption of such Series B Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series B Preferred Unit Partnership outstanding on any Series B Distribution Record Date")Date shall be equal to the distribution paid with respect to each other Series B Preferred Unit that is outstanding on such date.

Appears in 4 contracts

Samples: Hudson Pacific Properties, Inc., Hudson Pacific Properties, Inc., Hudson Pacific Properties, Inc.

Payment of Distributions. Subject to the rights of holders Holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders pursuant to Section 5.1 hereof, Holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.125(x) 7.45% at all times on and after March 5, 2004 and (y) 8.075% at all times before and excluding March 5, 2004, in each case of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31February 15, June 30May 15, September 30 August 15 and December 31 November 15 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into REIT Series A Preferred StockShares, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"), commencing (i) in the case of Series A Preferred Units originally issued on February 6, 1998, on May 15, 1998 and (ii) in the case of all other Series A Preferred Units, on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders Holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 4 contracts

Samples: Kilroy Realty, L.P., Kilroy Realty, L.P., Kilroy Realty Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units hereof in accordance herewith ranking senior to the Series A D Preferred Units as to the payment of distributions, holders of Series A D Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.1259.125% of the original Capital Contribution per Series A D Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods to be the quarterly periods ending on the dates set forth in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year year, commencing on June 30December 31, 1998 1999 (with the first such payment to include the amount accrued from the period commencing September 29, 1999 and ending December 31, 1999) and, (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred Stock, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30December 31, 1998 1999 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date").

Appears in 4 contracts

Samples: Regency Centers Lp, Regency Centers Lp, Regency Centers Corp

Payment of Distributions. Subject to the ------------- ------------------------ rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A H Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.95% of the original Capital Contribution per Series A H Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 2000 and, (Bii), in the event of (iA) an exchange of Series A H Preferred Units into Series A H Preferred StockShares (as hereinafter defined), or (iiB) a redemption of Series A H Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit -------------- Distribution Payment Date"). The amount of the distribution payable for any ------------------------- period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A H Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A H Preferred Units will be made to the holders of record of the Series A H Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred --------- Unit Partnership Record Date").. ----------------------------

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Trust

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A B Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A B Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A B Priority Return attributable to such Series B Preferred UnitUnits in accordance with this Article 19. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series B Preferred Units are issued or, if later, the most recent Series B Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series B Distribution Record Date has passed), and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year commencing on June or about March 30, 1998 2018, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A B Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A B Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series B Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series B Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 3 contracts

Samples: Rexford Industrial Realty, Inc., Rexford Industrial Realty, Inc., Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Series E Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A E Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.375% of the original Capital Contribution per Series A E Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30December 31, 1998 1999 and, (Bii), in the event of (iA) an exchange of Series A E Preferred Units into Series A E Preferred StockShares, or (iiB) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Series E Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Series E Preferred Unit Distribution Payment Date (the "Series E Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Properties Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A D Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.375% of the original Capital Contribution per Series A D Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 3125, June 3025, September 30 25 and December 31 25 of each year commencing on June 30December 25, 1998 1999 and, (Bii), in the event of (iA) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (iiB) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Properties Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A E Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.1258.75% of the original Capital Contribution per Series A E Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable in cash when, as and if declared by the Partnership acting through the General Partner, (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, 2000 and (B), ) in the event of (i) an exchange of Series A E Preferred Units into Series A E Preferred Stock, or (ii) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Series E Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount amounts of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monththe quarterly period to ninety (90) days. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series E Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Regency Centers Lp, Regency Centers Lp, Regency Centers Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units hereof in accordance herewith ranking senior to the Series A F Preferred Units as to the payment of distributions, holders of Series A F Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.1258.75% of the original Capital Contribution per Series A F Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods to be the quarterly periods ending on the dates set forth in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year year, commencing on June September 30, 1998 2000 (with the first such payment to include the amount accrued from the period commencing the date hereof and ending September 30, 2000) and, (B), ) in the event of (i) an exchange of Series A F Preferred Units into Series A F Preferred Stock, or (ii) a redemption of Series A F Preferred Units, on the exchange date or redemption date, as applicable (each a "a" Series F Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A F Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June September 30, 1998 2000 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A F Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series F Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Regency Centers Lp, Regency Centers Lp, Regency Centers Corp

Payment of Distributions. Subject to the ------------- ------------------------ rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A G Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.875% of the original Capital Contribution per Series A G Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 3125, June 3025, September 30 25 and December 31 25 of each year commencing on June 3025, 1998 2000 and, (Bii), in the event of (iA) an exchange of Series A G Preferred Units into Series A G Preferred StockShares (as hereinafter defined), or (iiB) a redemption of Series A G Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution ---------------------------------------- payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A G Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A G Preferred Units will be made to the holders of record of the Series A G Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").. --------------------------------------

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Trust

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.1259.0% of the original Capital Contribution per Series A C Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable in cash when, as and if declared by the Partnership acting through the General Partner, (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June September 30, 1998 and, 1999 and (B), ) in the event of (i) an exchange of Series A C Preferred Units into Series A C Preferred Stock, or (ii) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Series C Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount amounts of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monththe quarterly period to ninety (90) days. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series C Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Regency Centers Lp, Regency Centers Corp, Regency Centers Lp

Payment of Distributions. Subject to the rights Each holder of holders of Parity Series C Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General PartnerManaging Member, out of Available Net Operating Cash Flow and Capital Transaction Proceedssubject to the right to payment of the holders of Preferred Units ranking senior to or on parity with the Series C Preferred Units, cumulative preferential cash distributions per Series C Preferred Unit at the rate per annum of 8.1258.25% of the original Capital Contribution $250 base liquidation preference thereof (or $5.15625 per quarter) (the “Series A C Preferred UnitUnit Distribution”). Such distributions Series C Preferred Unit Distributions with respect to any Series C Preferred Units shall be cumulative, shall accrue from the original date of the issuance of such Series C Preferred Units and will be payable (Ai) quarterly when, as and if authorized and declared by the Managing Member, in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ii) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "“Series C Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of distribution per Series C Preferred Unit accruing in each full quarterly distribution period shall be computed by dividing the annual distribution rate by four. The amount of distributions payable for the initial distribution period or any other period shorter or longer than a full quarterly distribution period on the Series C Preferred Units will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of 360-day year and the actual number of days elapsed in such a thirty (30-) day month. If any date on which distributions are to be made on the Series A C Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution Series C Preferred Unit Distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) ), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (without any deduction), in each case with the same force and effect as if made on such date. Series C Preferred Unit Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A C Preferred Units of record on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series C Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Operating Agreement (New GGP, Inc.), Operating Agreement (General Growth Properties, Inc.), Operating Agreement (New GGP, Inc.)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A F Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.5% of the original Capital Contribution per Series A F Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 3125, June 3025, September 30 25 and December 31 25 of each year commencing on June 30March 25, 1998 2000 and, (Bii), in the event of (iA) an exchange of Series A F Preferred Units into Series A F Preferred StockShares, or (iiB) a redemption of Series A F Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A F Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A F Preferred Units will be made to the holders of record of the Series A F Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 3 contracts

Samples: Agreement (Cabot Industrial Properties Lp), Agreement (Cabot Industrial Properties Lp), Cabot Industrial Properties Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A C Preferred Units in accordance herewith ranking senior to the Series A Preferred Units Units) as to the payment of distributions, pursuant to Sections 5.1 and 16.3.A hereof, holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitD Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights of the Series D Preferred Units to the Series C Preferred Units, the payment of distributions with respect to the Series D Preferred Units prior to the payment of distributions with respect to the Series C Preferred Units, solely as a result of the Series D Preferred Unit Distribution Payment Date occurring prior to the Series C Preferred Unit Distribution Payment Date, shall not be deemed to create a priority in favor of Series D Preferred Units over Series C Preferred Units.

Appears in 2 contracts

Samples: Constructive Ownership Definition (Amb Property Corp), Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 19.3A, 21.3A and 22.3A hereof), holders of Series A E Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitE Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A E Preferred Units into Series A E Preferred StockShares, or (ii) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Series E Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series E Preferred Unit Distribution Payment Date (the "Series E Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 2 contracts

Samples: Constructive Ownership Definition (Amb Property Corp), Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A K Preferred Units, the Series L Preferred Units, the Series M Preferred Units, the Series O Preferred Units in accordance herewith ranking senior to and the Series A P Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 19.3.A, Section 20.3.A, Section 21.3A, Section 22.3A and Section 23.3.A hereof, holders of Series A J Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitJ Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A J Preferred Units into Series A J Preferred StockShares, or (ii) a redemption of Series A J Preferred Units, on the exchange date or redemption date, as applicable (each a "“Series J Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A J Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A J Preferred Units will be made to the holders of record of the Series A J Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "“Series J Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Lp), Assignment and Assumption Agreement (Amb Property Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A J Preferred Units, the Series K Preferred Units in accordance herewith ranking senior to and the Series A L Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 18.3.A, Section 19.3.A and Section 20.3.A hereof, holders of Series A B Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitB Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A B Preferred Units into Series A B Preferred StockShares, or (ii) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series B Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Corp), Assignment and Assumption Agreement (Amb Property Lp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A B Preferred Units as to the payment of distributions, holders of Series A B Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, pursuant to Article 5 of the Agreement, cumulative preferential cash distributions at the rate per annum of 8.1258.95% of the original Capital Contribution per Series A B Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable payable: (Ai) quarterly in arrears, on or before March 31the last day (or, June 30if not a Business Day, the next succeeding Business Day) of each of March, June, September 30 and December 31 of each year commencing on June 30, 1998 and1999 (each, (Ba "Series B Preferred Unit Distribution Payment Date"), and (ii) in the event of (iA) an exchange of Series A B Preferred Units into Series A B Preferred Stock, or (iiB) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date")applicable. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be the twentieth (20th) day of the calendar month in which the applicable Series B Preferred Unit Distribution Payment Date falls or on such earlier date designated on at least ten (10) days' notice by the Board of Directors of the General Partner as the record date for such distribution that is not more than thirty (30) nor less than ten (10) days and not more than thirty (30) Business Days prior to the relevant such Series B Preferred Unit Distribution Payment Date (the "Series B Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Summit Properties Partnership L P, Summit Properties Partnership L P

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A J Preferred Units, the Series K Preferred Units, the Series L Preferred Units in accordance herewith ranking senior to and the Series A M Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 18.3.A, Section 19.3.A, Section 20.3.A and Section 21.3.A hereof, holders of Series A B Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitB Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A B Preferred Units into Series A B Preferred StockShares, or (ii) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series B Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Corp), Assignment and Assumption Agreement (Amb Property Lp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders Holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsDistributable Cash, cumulative preferential cash distributions at the rate per annum of 8.1258 7/8% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A1) quarterly in arrears, on or before March 31January 15, June 30April 15, September 30 July 15 and December 31 October 15 of each year commencing on June 30, 1998 and, (B2), in the event of (ia) an exchange of Series A Preferred Units into Series A Preferred Stock, or (iib) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Series A Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series A Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Storage Usa Inc, Susa Partnership Lp

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as to the payment of distributions1 CPOP Units, holders in accordance with Section 5.1, Holders of Series A Preferred 1 CPOP Units shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit1 CPOP Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance of such Series 1 CPOP Units or, if later, the most recent Series 1 CPOP Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series 1 CPOP Distribution Record Date has passed), and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 of each year year, commencing on June 30the first of such dates to occur after the original date of issuance, 1998 and, (B), ii) in the event of (i) an exchange a redemption or conversion of Series A Preferred Units into 1 CPOP Units, and solely with respect to the redeemed or converted Series A Preferred Stock1 CPOP Units, or (ii) a redemption of Series A Preferred Unitsas applicable, on the exchange redemption or conversion date or redemption date(each, as applicable (each a "Preferred “Series 1 CPOP Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred 1 CPOP Units is not a Business Day, then payment of the distribution to be made on such date will may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (and, in each case with the same force and effect as if made on such date. Distributions on June 30any case, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred 1 CPOP Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date"to such next Business Day).

Appears in 2 contracts

Samples: Rexford Industrial Realty, Inc., Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 18.3A, 19.3A, 21.3A and 22.3A hereof), holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitD Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series D Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 2 contracts

Samples: Constructive Ownership Definition (Amb Property Corp), Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders Each holder of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General PartnerManaging Member, out of Available Net Operating Cash Flow and Capital Transaction Proceedssubject to the right to payment of the holders of Preferred Units ranking senior to or on parity with the Series A Preferred Units, cumulative preferential cash distributions per Series A Preferred Unit at the rate per annum of 8.1258.95% of the original Capital Contribution $250 base liquidation preference thereof (or $5.59375 per quarter) (the "Series A Preferred UnitUnit Distribution"). Such distributions Series A Preferred Unit Distributions with respect to any Series A Preferred Units shall be cumulative, shall accrue from the original date of the issuance of such Series A Preferred Units and will be payable (A) quarterly when, as and if authorized and declared by the Managing Member, in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Series A Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of distribution per Series A Preferred Unit accruing in each full quarterly distribution period shall be computed by dividing the annual distribution rate by four. The amount of distributions payable for the initial distribution period or any other period shorter or longer than a full quarterly distribution period on the Series A Preferred Units will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of 360-day year and the actual number of days elapsed in such a thirty (30-) day month. If any date on which distributions are to be made on the Series A Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution Series A Preferred Unit Distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) ), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (without any deduction), in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units Unit Distributions will be made to the holders of record of the Series A Preferred Units of record on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series A Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Operating Agreement (General Growth Properties Inc), Operating Agreement (General Growth Properties Inc)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance The General Partner, as holder of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitUnit in an amount equal to the Series A Priority Return accrued thereon, at the applicable rate, in accordance with this Section 16.2. Such distributions shall accrue and be cumulativecumulative from and including April 1, shall accrue from 2020 (the original date of issuance “Series A Preferred Unit Initial Accrual Date”) and will be payable at the then applicable rate (Aeach a “Series A Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series A Preferred Unit Initial Accrual Date to June 30, 2021, on or before March 31about July 12, June 302021, September 30 and December 31 (ii) except as provided in clause (iii), for each monthly distribution period thereafter, monthly in equal amounts in arrears on or about the 12th calendar day of each year calendar month, commencing on June 30or about August 12, 1998 and2021, and (Biii) to the extent that any Series A Preferred Unit is redeemed pursuant to Section 4.7.B after a Series A Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of such distribution, in the event of (i) an exchange a redemption of any Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to Unit Distribution Payment Date, and no interest or other sum shall accrue on the holders of record of the amount so payable from such Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (to such next succeeding Business Day. Distributions will be payable on Series A Preferred Units outstanding at the "close of business on the applicable Series A Distribution Record Date. Each distribution is payable to holders of record of outstanding Series A Preferred Units as of the applicable Series A Distribution Record Date or date of redemption of such Series A Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series A Preferred Unit Partnership outstanding on any Series A Distribution Record Date")Date shall be equal to the distribution paid with respect to each other Series A Preferred Unit that is outstanding on such date.

Appears in 2 contracts

Samples: Agreement (Parking REIT, Inc.), Parking REIT, Inc.

Payment of Distributions. Subject Notwithstanding anything to the contrary contained in Section 5.1 of the Partnership Agreement, but subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, established pursuant to Section 4.2 of the Partnership Agreement, holders of Series A B Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitB Priority Return. Such distributions shall be cumulative, shall accrue from form the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June September 30, 1998 and, 1999 and (B), ii) in the event of (iA) an exchange of for Series A B Preferred Units into Series A B Preferred Stock, or (iiB) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment DateSERIES B PREFERRED UNIT DISTRIBUTION PAYMENT DATE"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and and, for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of or days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A B Preferred Units Unit Distribution Date is not a Business DayDay (as hereinafter defined), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) in no event exceed 15 Business Days prior to the relevant Series B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DatePREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 2 contracts

Samples: Price Development Co Lp, Jp Realty Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance MIC, as holder of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General PartnerBoard, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitUnit in an amount equal to the Series A Priority Return accrued thereon, at the applicable rate, in accordance with this Section 16.2. Such distributions shall accrue and be cumulativecumulative from and including April 1, shall accrue from 2020 (the original date of issuance “Series A Preferred Unit Initial Accrual Date”) and will be payable at the then applicable rate (Aeach a “Series A Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series A Preferred Unit Initial Accrual Date to June 30, 2021, on or before March 31about July 12, June 302021, September 30 and December 31 (ii) except as provided in clause (iii), for each monthly distribution period thereafter, monthly in equal amounts in arrears on or about the 12th calendar day of each year calendar month, commencing on June 30or about August 12, 1998 and2021, and (Biii) to the extent that any Series A Preferred Unit is redeemed pursuant to Section 4.7.B after a Series A Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of such distribution, in the event of (i) an exchange a redemption of any Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided, as applicable (each a "however, if any Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to Unit Distribution Payment Date, and no interest or other sum shall accrue on the holders of record of the amount so payable from such Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (to such next succeeding Business Day. Distributions will be payable on Series A Preferred Units outstanding at the "close of business on the applicable Series A Distribution Record Date. Each distribution is payable to holders of record of outstanding Series A Preferred Units as of the applicable Series A Distribution Record Date or date of redemption of such Series A Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series A Preferred Unit Partnership outstanding on any Series A Distribution Record Date")Date shall be equal to the distribution paid with respect to each other Series A Preferred Unit that is outstanding on such date.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp), Limited Liability Company Agreement (Mobile Infrastructure Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A, and 22.3A hereof), holders of Series A H Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitH Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A H Preferred Units into Series A H Preferred StockShares, or (ii) a redemption of Series A H Preferred Units, on the exchange date or redemption date, as applicable (each a "Series H Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A H Preferred Units will be made to the holders of record of the Series A H Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series H Preferred Unit Distribution Payment Date (the "Series H Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 2 contracts

Samples: Constructive Ownership Definition (Amb Property Corp), Amb Property Lp

Payment of Distributions. Subject to the rights Each holder of holders of Parity Series C Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General PartnerManaging Member, out of Available Net Operating Cash Flow and Capital Transaction Proceedssubject to the right to payment of the holders of Preferred Units ranking senior to or on parity with the Series C Preferred Units, cumulative preferential cash distributions per Series C Preferred Unit at the rate per annum of 8.1258.25% of the original Capital Contribution $250 base liquidation preference thereof (or $5.15625 per quarter) (the "Series A C Preferred UnitUnit Distribution"). Such distributions Series C Preferred Unit Distributions with respect to any Series C Preferred Units shall be cumulative, shall accrue from the original date of the issuance of such Series C Preferred Units and will be payable (Ai) quarterly when, as and if authorized and declared by the Managing Member, in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ii) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Series C Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of distribution per Series C Preferred Unit accruing in each full quarterly distribution period shall be computed by dividing the annual distribution rate by four. The amount of distributions payable for the initial distribution period or any other period shorter or longer than a full quarterly distribution period on the Series C Preferred Units will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of 360-day year and the actual number of days elapsed in such a thirty (30-) day month. If any date on which distributions are to be made on the Series A C Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution Series C Preferred Unit Distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) ), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (without any deduction), in each case with the same force and effect as if made on such date. Series C Preferred Unit Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A C Preferred Units of record on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series C Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Operating Agreement (General Growth Properties Inc), Operating Agreement (General Growth Properties Inc)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A and 18.3 hereof), holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitD Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series D Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Amb Property Lp, Amb Property Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A K Preferred Units, the Series L Preferred Units in accordance herewith ranking senior to and the Series A M Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 19.3.A, Section 20.3.A and Section 21.3.A hereof, holders of Series A J Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitJ Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A J Preferred Units into Series A J Preferred StockShares, or (ii) a redemption of Series A J Preferred Units, on the exchange date or redemption date, as applicable (each a "Series J Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A J Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A J Preferred Units will be made to the holders of record of the Series A J Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series J Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Lp), Assignment and Assumption Agreement (Amb Property Corp)

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests now or hereafter issued after the date of issuance of the Series A Preferred Units in accordance herewith and outstanding ranking senior to the Series A C Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A C Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A C Priority Return attributable to such Series C Preferred UnitUnits in accordance with this Article 21. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series C Preferred Units are issued or, if later, the most recent Series C Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series C Distribution Record Date has passed), and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of December, March, June 30and September, September 30 and December 31 of each year commencing on June 30or about December 31, 1998 2019, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A C Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series C Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A C Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series C Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series C Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant C Preferred Unit Distribution Payment Date (to such next succeeding Business Day; provided, further, that no holder of the "Series C Preferred Unit Partnership shall be entitled to receive any dividends paid or payable on the Series C Preferred Units with a Series C Distribution Record Date")Date before the date such units of Series C Preferred Units are issued, and no such dividends shall accrue in respect of such units.

Appears in 2 contracts

Samples: Agreement (Rexford Industrial Realty, Inc.), Rexford Industrial Realty, Inc.

Payment of Distributions. The Series C Preferred Units shall rank on a parity with the Series B Preferred Units with respect to payment of distributions and the distribution of assets upon liquidation, dissolution or winding-up. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A C Preferred Units as to the payment of distributions, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, pursuant to Article 5 of the Agreement, cumulative preferential cash distributions at the rate per annum of 8.1258.75% of the original Capital Contribution per Series A C Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable payable: (Ai) quarterly in arrears, for the first three quarters on or before March 31the last day (or, if not a Business Day (as hereinafter defined), the next succeeding Business Day) of each of March, June and September, and for the last quarter on December 21st (or if not a Business Day, the next succeeding Business Day), commencing on September 30, September 30 and December 31 of each year commencing on June 301999 (each, 1998 and, (Ba "Series C Preferred Unit Distribution Payment Date"), and (ii) in the event of (iA) an exchange of Series A C Preferred Units into Series A C Preferred Stock, or (iiB) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date")applicable. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a period; provided, however, that for each calendar year (x) the amount of the distribution for the period November 1 through December 21 shall be computed on the basis of two 30-day monthmonths plus twenty-one (21) days and (y) the amount of the distribution for the period December 22 through March 31 shall be computed on the basis of three 30-day months plus nine (9) days. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten the twentieth (1020th) days and day of the calendar month in which the applicable Series C Preferred Unit Distribution Payment Date falls or on such earlier date designated by the Board of Directors of the General Partner as the record date for such distribution that is not more than thirty (30) Business Days days prior to the relevant such Series C Preferred Unit Distribution Payment Date (the "Series C Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Summit Properties Partnership L P, Summit Properties Partnership L P

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A B Preferred Units, the Series K Preferred Units in accordance herewith ranking senior to and the Series A L Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 17.3.A, Section 19.3.A and Section 20.3.A hereof, holders of Series A J Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitJ Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A J Preferred Units into Series A J Preferred StockShares, or (ii) a redemption of Series A J Preferred Units, on the exchange date or redemption date, as applicable (each a "Series J Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A J Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A J Preferred Units will be made to the holders of record of the Series A J Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series J Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Lp), Assignment and Assumption Agreement (Amb Property Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A B Preferred Units, the Series K Preferred Units, the Series L Preferred Units in accordance herewith ranking senior to and the Series A M Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 17.3.A, Section 19.3.A, Section 20.3.A and Section 21.3.A hereof, holders of Series A J Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitJ Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A J Preferred Units into Series A J Preferred StockShares, or (ii) a redemption of Series A J Preferred Units, on the exchange date or redemption date, as applicable (each a "Series J Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A J Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A J Preferred Units will be made to the holders of record of the Series A J Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series J Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Lp), Assignment and Assumption Agreement (Amb Property Corp)

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A Priority Return attributable to such Series A Preferred UnitUnits in accordance with this Article 18. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series A Preferred Units are issued or, if later, the most recent Series A Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full, and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year commencing on June 30December 31, 1998 2016, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series A Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to Unit Distribution Payment Date, and no interest or additional dividends or other sums shall accrue on the holders of record of the amount so payable from such Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 2 contracts

Samples: Rexford Industrial Realty, Inc., Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A J Preferred Units, the Series L Preferred Units, the Series M Preferred Units, the Series O Preferred Units in accordance herewith ranking senior to and the Series A P Preferred Units Units) as to the payment of distributions, pursuant to Section 5.1, Section 18.3.A, Section 20.3.A, Section 21.3.A, Section 22.3A and Section 23.3.A hereof, holders of Series A K Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitK Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A K Preferred Units into Series A K Preferred StockShares, or (ii) a redemption of Series A K Preferred Units, on the exchange date or redemption date, as applicable (each a "“Series K Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A K Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A K Preferred Units will be made to the holders of record of the Series A K Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "“Series K Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Amb Property Corp), Assignment and Assumption Agreement (Amb Property Lp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 21.3A and 22.3A hereof), holders of Series A F Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitF Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A F Preferred Units into Series A F Preferred StockShares, or (ii) a redemption of Series A F Preferred Units, on the exchange date or redemption date, as applicable (each a "Series F Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A F Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A F Preferred Units will be made to the holders of record of the Series A F Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series F Preferred Unit Distribution Payment Date (the "Series F Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 2 contracts

Samples: Constructive Ownership Definition (Amb Property Corp), Amb Property Lp

Payment of Distributions. Subject to the rights Each holder of holders of Parity Series B Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General PartnerManaging Member, out of Available Net Operating Cash Flow and Capital Transaction Proceedssubject to the right to payment of the holders of Preferred Units ranking senior to or on parity with the Series B Preferred Units, cumulative preferential cash distributions per Series B Preferred Unit at the rate per annum of 8.1258.95% of the original Capital Contribution $250 base liquidation preference thereof (or $5.59375 per quarter) (the "Series A B Preferred UnitUnit Distribution"). Such distributions Series B Preferred Unit Distributions with respect to any Series B Preferred Units shall be cumulative, shall accrue from the original date of the issuance of such Series B Preferred Units and will be payable (Ai) quarterly when, as and if authorized and declared by the Managing Member, in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ii) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Series B Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of distribution per Series B Preferred Unit accruing in each full quarterly distribution period shall be computed by dividing the annual distribution rate by four. The amount of distributions payable for the initial distribution period or any other period shorter or longer than a full quarterly distribution period on the Series B Preferred Units will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of 360-day year and the actual number of days elapsed in such a thirty (30-) day month. If any date on which distributions are to be made on the Series A B Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution Series B Preferred Unit Distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) ), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (without any deduction), in each case with the same force and effect as if made on such date. Series B Preferred Unit Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A B Preferred Units of record on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 2 contracts

Samples: Operating Agreement (General Growth Properties Inc), Operating Agreement (General Growth Properties Inc)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Sections 5.1, 5.3 and 13.2 hereof, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.25% of the original Capital Contribution per Series A C Preferred Unit. With respect to the Holders of the Series C Preferred Units, the original Capital Contribution per Series C Preferred Unit is $25. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before not later than the third calendar day after March 31, June 30, September 30 and December 31 of each year commencing on June September 30, 1998 1999 and, (B), ii) in the event of (ia) an exchange of Series A C Preferred Units into Series A C Preferred StockShares, or (iib) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment DateSERIES C PREFERRED UNIT DISTRIBUTION PAYMENT DATE"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Series C Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DateSERIES C PREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Camden Property Trust

Payment of Distributions. (i) Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, and holders of preferred units ranking senior to the Series G Units, as to payment of distributions, holders of Series A Preferred G Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Capital Cash Flow and Operating Cash Flow (together, “Available Cash and Capital Transaction ProceedsCash”), cumulative preferential cash distributions at the rate per annum of 8.1258.034% of the original Capital Contribution per Series A Preferred G Unit. Such All distributions shall be cumulative, shall accrue accumulate from the original date of issuance and will be payable (A1) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30March 31, 1998 and, 2011 and (B), 2) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the redemption date, (each such payment, exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed based on the basis ratio of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A Preferred G Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred G Units will be made to the holders of record of the Series A Preferred G Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "each, a “Preferred Unit Partnership Record Date"). The term “Business Day” shall mean each day, other than a Saturday or a Sunday, which is not a day on which banking institutions in New York, New York are authorized or required by law, regulation or executive order to close.

Appears in 1 contract

Samples: Equity Lifestyle Properties Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A, 20.3A and 21.3A hereof), holders of Series A I Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitI Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A I Preferred Units into Series A I Preferred StockShares, or (ii) a redemption of Series A I Preferred Units, on the exchange date or redemption date, as applicable (each a "Series I Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A I Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A I Preferred Units will be made to the holders of record of the Series A I Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series I Preferred Unit Distribution Payment Date (the "Series I Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, the Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 19.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A E Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitE Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A E Preferred Units into Series A E Preferred StockShares, or (ii) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Series E Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series E Preferred Unit Distribution Payment Date (the "Series E Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A F Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitF Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A F Preferred Units into Series A F Preferred StockShares, or (ii) a redemption of Series A F Preferred Units, on the exchange date or redemption date, as applicable (each a "Series F Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A F Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A F Preferred Units will be made to the holders of record of the Series A F Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series F Preferred Unit Distribution Payment Date (the "Series F Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 hereof, holders of Series A B Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258 5/8% of the original Capital Contribution per Series A B Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30December 31, 1998 1999 and, (B), in the event of (i) an exchange of Series A B Preferred Units into REIT Series A B Preferred StockShares, or (ii) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Series B Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series B Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Arden Realty Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 19.3A, 20.3A and 21.3A hereof), holders of Series A I Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitI Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A I Preferred Units into Series A I Preferred StockShares, or (ii) a redemption of Series A I Preferred Units, on the exchange date or redemption date, as applicable (each a "Series I Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A I Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A I Preferred Units will be made to the holders of record of the Series A I Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series I Preferred Unit Distribution Payment Date (the "Series I Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, the Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Senior Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Parity Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, if any, holders of Series A D Preferred Units shall be entitled to receive, when, as and if authorized and declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1259.45% of the original Capital Contribution per Stated Value of the Series A D Preferred UnitUnits. Such distributions Distributions shall be cumulative, shall accrue from the original date of issuance and all distributions accrued to the scheduled date of payment shall be payable in cash (i) quarterly (such quarterly periods for purposes of payment and accrual will be payable (Athe quarterly periods ending on and including the dates specified in this sentence and not calendar year quarters) quarterly in arrears, on or before March 3115, June 3015, September 30 15 and December 31 15 of each year commencing on June 30December 15, 1998 1999 (with the first such payment to include the amount accrued from the period commencing October 1, 1999 and ending December 15, 1999) and, (B), ii) in the event of (iA) an exchange of Series A D Preferred Units into Series A D Cumulative Redeemable Preferred Stock of the General Partner (the "Series D Preferred Stock"), or (iiB) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will shall be computed on the basis of a 360-day year of twelve 30-day months months, and the amount of the distribution payable on the initial Preferred Unit Distribution Payment Date and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will computed shall be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthquarterly period to 90 days. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will shall be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will shall be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days 60 days prior to the relevant Preferred Unit Distribution Payment Date (the each, a "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Urban Shopping Centers Inc

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests now or hereafter issued after the date of issuance of the Series A Preferred Units in accordance herewith and outstanding ranking senior to the Series A C Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A C Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A C Priority Return attributable to such Series C Preferred UnitUnits in accordance with this Article 21. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series C Preferred Units are issued or, if later, the most recent Series C Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series C Distribution Record Date has passed), and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of December, March, June 30and September, September 30 and December 31 of each year commencing on June 30or about December 31, 1998 2019, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A C Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series C Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A C Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series C Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series C Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant C Preferred Unit Distribution Payment Date (to such next succeeding Business Day; provided, further, that no holder of the "Series C Preferred Unit Partnership shall be entitled to receive any distributions paid or payable on the Series C Preferred Units with a Series C Distribution Record Date")Date before the date such units of Series C Preferred Units are issued, and no such distributions shall accrue in respect of such units.

Appears in 1 contract

Samples: Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of (including the Series A Preferred Units in accordance herewith ranking senior to Units, the Series A B Preferred Units and the Series K Preferred Units) as to the payment of distributions, pursuant to Section 5.1, Section 16.3.A, Section 17.3.A and Section 19.3.A hereof, holders of Series A J Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitJ Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A J Preferred Units into Series A J Preferred StockShares, or (ii) a redemption of Series A J Preferred Units, on the exchange date or redemption date, as applicable (each a "Series J Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A J Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A J Preferred Units will be made to the holders of record of the Series A J Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series J Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Constructive Ownership Definition (Amb Property Lp)

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A B Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A B Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A B Priority Return attributable to such Series B Preferred UnitUnits in accordance with this Article 19. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series B Preferred Units are issued or, if later, the most recent Series B Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series B Distribution Record Date has passed), and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year 101 commencing on June or about March 30, 1998 2018, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A B Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A B Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series B Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series B Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 1 contract

Samples: Agreement (Rexford Industrial Realty, Inc.)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A F Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitF Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A F Preferred Units into Series A F Preferred StockShares, or (ii) a redemption of Series A F Preferred Units, on the exchange date or redemption date, as applicable (each a "Series F Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A F Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other 103 109 payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A F Preferred Units will be made to the holders of record of the Series A F Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series F Preferred Unit Distribution Payment Date (the "Series F Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. (i) Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred F Preference Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Capital Cash Flow and Operating Cash Flow (together, “Available Cash and Capital Transaction ProceedsCash”), cumulative preferential cash distributions at the rate per annum of 8.1257.95% of the original Capital Contribution per Series A Preferred F Preference Unit. Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A1) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, the first of such dates to occur after the original date of issuance (B), with the first such payment to include the period commencing on the day following the date the Contributions are received by the Partnership and ending on the last day of such calendar quarter) and (2) in the event of (iA) an exchange of Series A Preferred F Preference Units into Series A F Preferred StockStock (as hereinafter defined), or (iiB) a redemption of Series A Preferred F Preference Units, on the exchange date or redemption date, as applicable (each such payment, exchange or redemption date, a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A Preferred F Preference Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred F Preference Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").F

Appears in 1 contract

Samples: Equity Lifestyle Properties Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A, 21.3A and 22.3A hereof), holders of Series A N Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitN Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30year, 1998 and, and (B), ) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of the Series A N Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "Series N Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A N Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A N Preferred Units will be made to the holders of record of the Series A N Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series N Preferred Unit Distribution Payment Date (the "Series N Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series N Preferred Units, Series I Preferred Units, the Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 18.3A, 19.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitD Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series D Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date").. For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 19.3A and 21.3A hereof), holders of Series A G Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitG Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A G Preferred Units into Series A G Preferred StockShares, or (ii) a redemption of Series A G Preferred Units, on the exchange date or redemption date, as applicable (each a "Series G Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , 113 119 commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A G Preferred Units will be made to the holders of record of the Series A G Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series G Preferred Unit Distribution Payment Date (the "Series G Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Section 5.1, 17.3A, 18.3A, 19.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A C Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitC Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A C Preferred Units into Series A C Preferred StockShares, or (ii) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Series C Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series C Preferred Unit Distribution Payment Date (the "Series C Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 8.4 of the Partnership Agreement, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Operating Cash Flow and Capital Transaction ProceedsCash Flow, cumulative preferential cash distributions at the rate per annum of 8.1258.875% of the original Capital Contribution per Series A C Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last day (or, June 30if not a Business Day (as hereinafter defined), the next succeeding Business Day of each of March, June, September 30 and December 31 of each year commencing on June September 30, 1998 1999 and, (B), ii) in the event of (iA) an exchange of Series A C Preferred Units into Series A C Preferred StockStock (as hereinafter defined), or (iiB) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Series C Preferred Unit Distribution ------------------------------------ Payment Date"). The amount of the distribution payable for any period will be ------------ computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten the same day as the record date for any distribution payable on Junior Units (10) days and as hereinafter defined), with respect to the same period, or, if no such distribution is payable in respect of the Junior Units, the 20/th/ day of the calendar month in which the applicable distribution falls or on such earlier date designated on at least 10 days' notice by the Board of Directors of the General Partner as the record date for such distribution that is not more than thirty (30) Business Days 30 nor less than 10 days prior to the relevant such Series C Preferred Unit Distribution Payment Date (the "Series C Preferred Unit Partnership Record Date").. -----------------------------------------------

Appears in 1 contract

Samples: Bradley Operating L P

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A C Preferred Units as to the payment of distributions, pursuant to Section 6.2 of the Partnership Agreement, holders of Series A C Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Net Operating Cash and Capital Transaction ProceedsFlow, cumulative preferential cash distributions at the rate per annum of 8.1259.125% of the original Capital Contribution per Series A C Preferred UnitUnit (the "Issuance Rate"). Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 2000 for the quarterly period then ended, and, (Bii), in the event of (iA) an exchange of Series A C Preferred Units into Series A C Preferred StockShares, or (iiB) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Liberty Property Limited Partnership

Payment of Distributions. Subject to the rights of holders Holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders in accordance with Section 5.1, the General Partner, as holder of the Series A B Preferred Units shall Units, will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions per Series B Preferred Unit in an amount equal to the Series B Priority Return accrued thereon, at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unitapplicable rate, in accordance with this Section 17.2. Such distributions shall accrue and be cumulative, shall accrue cumulative from and including the original first date of issuance on which any REIT Series B Preferred Shares are issued (the “Series B Preferred Shares Original Issue Date”) and will be payable at the then applicable rate (Aeach a “Series B Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series B Preferred Shares Original Issue Date to December 31, 2010, on or before about December 31, 2010, (ii) except as provided in clause (iii), for each quarterly distribution period thereafter, quarterly in equal amounts in arrears on or about the last calendar day of each March, June, September and December, commencing on or about March 31, June 302011, September 30 and December 31 (iii) to the extent that any Series B Preferred Unit is redeemed pursuant to Section 4.7.B after a Series B Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of each year commencing on June 30, 1998 and, (B)such distribution, in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of any Series A B Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series B Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or other sum shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Preferred Unit Distribution Payment Date (to such next succeeding Business Day. Distributions will be payable on Series B Preferred Units outstanding at the "close of business on the applicable Series B Distribution Record Date. Each distribution is payable to holders of record of outstanding Series B Preferred Units as of the applicable Series B Distribution Record Date or date of redemption of such Series B Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series B Preferred Unit Partnership outstanding on any Series B Distribution Record Date").Date shall be equal to the distribution paid with respect to each other Series B Preferred Unit that is outstanding on such date. 109

Appears in 1 contract

Samples: Asset Purchase Agreement (Hudson Pacific Properties, Inc.)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 18.3A, 19.3A, 20.3A, 21.3A and 22.3A hereof), holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitD Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (ii) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Series D Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series D Preferred Unit Distribution Payment Date (the "Series D Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 hereof, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods set forth in arrears, this clause (A) and not calendar quarters) in arrears on or before March 31February 15, June 30May 15, September 30 August 15 and December 31 November 15 of each year year, 76 commencing on June 30May 15, 1998 1998, and, (B), ) in the event of (i) an exchange of Series A Preferred Units into REIT Series A Preferred StockShares, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Series A Preferred Unit Distribution Payment Date"), commencing (i) in the case of Series A Preferred Units originally issued on March 4, 1998, on May 15, 1998 and (ii) in the case of all other Series A Preferred Units, on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Series A Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: National Golf Properties Inc

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Payment of Distributions. Subject to the rights of holders of Parity Preferred Units as to the payment of distributions and any holders of Partnership Interests equity securities issued after the date of issuance of the Series A Preferred Units hereof in accordance herewith with the Partnership Agreement ranking senior to the Series A 4 Preferred Units as to the payment of distributions, holders of Series A 4 Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsProceeds legally available for the payment of distributions, cumulative preferential cash distributions at the rate per annum of 8.1257.25% of the original Capital Contribution $25 liquidation preference per Series A 4 Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable in cash (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June September 30, 1998 and2004 with respect to the Old Series 4 Preferred Units and March 31, 2008 with respect to the New Series 4 Preferred Units, and (B), ) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Unitsredemption, on the exchange redemption date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A 4 Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Regency Centers Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A E Preferred Units as to the payment of distributions, pursuant to Section 6.2 of the Partnership Agreement, holders of Series A E Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Net Operating Cash and Capital Transaction ProceedsFlow, cumulative preferential cash distributions at the rate per annum of 8.1257.00% of the original Capital Contribution per Series A E Preferred UnitUnit (the “Issuance Rate”). Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30the first such date to occur after the original date of issuance, 1998 and, (Bii), in the event of (iA) an exchange of Series A E Preferred Units into Series A E Preferred StockShares, or (iiB) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve (12) 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business DayDay (as such term is defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Liberty Property Trust

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as to the payment of distributions1 CPOP Units, holders in accordance with Section 5.1, Holders of Series A Preferred 1 CPOP Units shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit1 CPOP Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance of such Series 1 CPOP Units or, if later, the most recent Series 1 CPOP Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series 1 CPOP Distribution Record Date has passed), and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 of each year year, commencing on June 30the first of such dates to occur after the original date of issuance, 1998 and, (B), ii) in the event of (i) an exchange a redemption or conversion of Series A Preferred Units into 1 CPOP Units, and solely with respect to the redeemed or converted Series A Preferred Stock1 CPOP Units, or (ii) a redemption of Series A Preferred Unitsas applicable, on the exchange redemption or conversion date or redemption date(each, as applicable (each a "Preferred “Series 1 CPOP Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred 1 CPOP Units is not a Business Day, then payment of the distribution to be made on such date will may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (and, in each case with the same force and effect as if made on such date. Distributions on June 30any case, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred 1 CPOP Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date"to such next Business Day).. 105

Appears in 1 contract

Samples: Agreement (Rexford Industrial Realty, Inc.)

Payment of Distributions. Subject to the rights of holders of ------------------------ Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 hereof, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.075% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31February 15, June 30May 15, September 30 August 15 and December 31 November 15 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into REIT Series A Preferred StockShares, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit -------------- Distribution Payment Date"), commencing on May 15, 1998. The amount of the ------------------------- distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").. --------------------------------------

Appears in 1 contract

Samples: Kilroy Realty Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance The General Partner, as holder of the Series A 1 Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions per Series 1 Preferred Unit in an amount equal to the Series 1 Priority Return accrued thereon, at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unitapplicable rate, in accordance with this Section 17.2. Such distributions shall accrue and be cumulativecumulative from and including April 1, shall accrue from 2020 (the original date of issuance “Series 1 Preferred Unit Initial Accrual Date”) and will be payable at the then applicable rate (Aeach a “Series 1 Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series 1 Preferred Unit Initial Accrual Date to June 30, 2021, on or before March 31about July 12, June 302021, September 30 and December 31 (ii) except as provided in clause (iii), for each monthly distribution period thereafter, monthly in equal amounts in arrears on or about the 12th calendar day of each year calendar month, commencing on June 30or about August 12, 1998 and2021, and (Biii) to the extent that any Series 1 Preferred Unit is redeemed pursuant to Section 4.7.B after a Series 1 Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of such distribution, in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of any Series A 1 Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series 1 Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series 1 Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or other sum shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant 1 Preferred Unit Distribution Payment Date (to such next succeeding Business Day. Distributions will be payable on Series 1 Preferred Units outstanding at the "close of business on the applicable Series 1 Distribution Record Date. Each distribution is payable to holders of record of outstanding Series 1 Preferred Units as of the applicable Series 1 Distribution Record Date or date of redemption of such Series 1 Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series 1 Preferred Unit Partnership outstanding on any Series 1 Distribution Record Date")Date shall be equal to the distribution paid with respect to each other Series 1 Preferred Unit that is outstanding on such date.

Appears in 1 contract

Samples: Agreement (Mobile Infrastructure Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 6.2 of the Partnership Agreement, holders of Series A Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General PartnerPartnership, out of Available Operating Cash and Capital Transaction ProceedsFlow, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit; provided, however, that in the event Xxxxx'x shall upgrade Chateau Communities, Inc.'s preferred stock rating to not lower than "baa3" within 90 days after the date hereof the rate per annum shall be 7.80% of the original Capital Contribution per Series A Preferred Unit, in which case the designation of the Series A Preferred Units will change accordingly to reflect such new dividend rate. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31May 15, June 30August 15, September 30 November 15 and December 31 February 15, of each year commencing on June 30May 15, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment DatePREFERRED UNIT DISTRIBUTION PAYMENT DATE"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General PartnerPartnership, which record dates shall be not less than ten (10) days and not more than thirty (30) in no event exceed 15 Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DatePREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Cp LTD Partnership

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance The General Partner, as holder of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitUnit in an amount equal to the Series A Priority Return accrued thereon, at the applicable rate, in accordance with this Section 16.2. Such distributions shall accrue and be cumulativecumulative from and including April 1, shall accrue from 2020 (the original date of issuance “Series A Preferred Unit Initial Accrual Date”) and will be payable at the then applicable rate (Aeach a “Series A Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series A Preferred Unit Initial Accrual Date to June 30, 2021, on or before March 31about July 12, June 302021, September 30 and December 31 (ii) except as provided in clause (iii), for each monthly distribution period thereafter, monthly in equal amounts in arrears on or about the 12th calendar day of each year calendar month, commencing on June 30or about August 12, 1998 and2021, and (Biii) to the extent that any Series A Preferred Unit is redeemed pursuant to Section 4.7.B after a Series A Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of such distribution, in the event of (i) an exchange a redemption of any Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such Series A Preferred Unit Distribution Payment Date, and no interest or other sum shall accrue on the amount so payable from such Series A Preferred Unit Distribution Payment Date to such next succeeding Business Day. Distributions will be payable on Series A Preferred Units outstanding at the close of business on the applicable Series A Distribution Record Date. Each distribution is payable to holders of record of outstanding Series A Preferred Units as of the applicable Series A Distribution Record Date or date of redemption of such Series A Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series A Preferred Unit outstanding on any Series A Distribution Record Date shall be equal to the distribution paid with respect to each other Series A Preferred Unit that is outstanding on such date. 105 of 125 B. Distributions on June 30, 1998 and thereafter Cumulative. Distributions on the Series A Preferred Units will be made to the holders of record of cumulative from and including the Series A Preferred Units Unit Initial Accrual Date, or, with respect to the special distribution right referred to in Section 16.2.E below, from, and including, the first date on which the dividend rate payable on the relevant record dates to be fixed by Series A Preferred Shares is increased in accordance with the Partnership acting through Series A Preferred Shares Terms. Distributions will accumulate from the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to Series A Preferred Unit Initial Accrual Date or the relevant most recent Series A Preferred Unit Distribution Payment Date (to which accrued distributions have been paid, whether or not the "Preferred Unit terms and provisions set forth in Section 16.2.D hereof at any time prohibit the current payment of distributions, whether or not the Partnership Record Date")has Available Cash or earnings and whether or not such distributions are authorized.

Appears in 1 contract

Samples: Support Agreement (Mobile Infrastructure Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 19.3A, 21.3A and 22.3A hereof), holders of Series A G Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitG Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A G Preferred Units into Series A G Preferred StockShares, or (ii) a redemption of Series A G Preferred Units, on the exchange date or redemption date, as applicable (each a "Series G Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A G Preferred Units will be made to the holders of record of the Series A G Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series G Preferred Unit Distribution Payment Date (the "Series G Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the preferential rights of the holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the 7.125% Series A B Cumulative Redeemable Preferred Units as to the payment of distributions, holders of the 7.125% Series A B Cumulative Redeemable Preferred Units shall Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate of 7.125 percent (7.125%) per annum on the stated value of 8.125% twenty-five dollars ($25.00) per unit (equivalent to a fixed annual amount of the original Capital Contribution $1.78125 per Series A Preferred Unitunit). Such distributions shall accrue and be cumulative, cumulative from and including the first date on which any 7.125% Series B Cumulative Redeemable Preferred Units are issued (the “7.125% Series B Cumulative Redeemable Preferred Unit Original Issue Date”) and shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, arrears on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of 7.125% Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "B Cumulative Redeemable Preferred Unit Distribution Payment Date"Date (as defined below). The amount of the distribution payable for , commencing December 31, 2014; provided, however that if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the 7.125% Series A B Cumulative Redeemable Preferred Units Unit Distribution Payment Date is not a Business DayDay (as defined below), then payment of the distribution to be made which would otherwise have been payable on such date will 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Payment Date may be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 307.125% Series B Cumulative Redeemable Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional distributions or other sums shall accrue on the amount so payable from such 7.125% Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Cumulative Redeemable Preferred Unit Distribution Payment Date (to such next succeeding Business Day. The amount of any distribution payable on the "7.125% Series B Cumulative Redeemable Preferred Units for any 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Period (as defined below) shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record as they appear in the records of the Partnership at the close of business on the applicable 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Record Date (as defined below). Notwithstanding any provision to the contrary contained herein, each outstanding 7.125% Series B Cumulative Redeemable Preferred Unit shall be entitled to receive a distribution with respect to any 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Record Date equal to the distribution paid with respect to each other 7.125% Series B Cumulative Redeemable Preferred Unit that is outstanding on such date. “7.125% Series B Cumulative Redeemable Preferred Unit Distribution Record Date"” shall mean the date designated by the Partnership for the payment of distributions that is not more than 35 or fewer than 10 days prior to the applicable 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Payment Date. “7.125% Series B Cumulative Redeemable Preferred Unit Distribution Payment Date” shall mean the last calendar day of each March, June, September and December, commencing on December 31, 2014. “7.125% Series B Cumulative Redeemable Preferred Unit Distribution Period” shall mean the respective periods commencing on and including the first day of January, April, July and October of each year and ending on and including the day preceding the first day of the next succeeding 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Period (other than the initial 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Period, which shall commence on the 7.125% Series B Cumulative Redeemable Preferred Unit Original Issue Date and end on and include December 31, 2014, and other than the 7.125% Series B Cumulative Redeemable Preferred Unit Distribution Period during which any 7.125% Series B Cumulative Redeemable Preferred Units shall be redeemed pursuant to Section 2.F of this Exhibit G, which shall end on and include the day preceding the redemption date with respect to the 7.125% Series B Cumulative Redeemable Preferred Units being redeemed). For purposes of this Section 2 of this Exhibit G, “Business Day” shall mean each day, other than a Saturday or Sunday, which is not a day on which banking institutions in New York, New York are authorized or required by law, regulation or executive order to close.

Appears in 1 contract

Samples: Gramercy Property Trust Inc.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 19.3A, 21.3A, 22.3A and 24.3A hereof), holders of Series A E Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitE Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A E Preferred Units into Series A E Preferred StockShares, or (ii) a redemption of Series A E Preferred Units, on the exchange date or redemption date, as applicable (each a "Series E Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A E Preferred Units will be made to the holders of record of the Series A E Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series E Preferred Unit Distribution Payment Date (the "Series E Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series N Preferred Units, Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A B Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A B Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A B Priority Return attributable to such Series B Preferred UnitUnits in accordance with this Article 19. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series B Preferred Units are issued or, if later, the most recent Series B Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series B Distribution Record Date has passed), and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year commencing on June or about March 30, 1998 2018, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A B Preferred Units, on the exchange redemption 116 date or redemption date, as applicable (each a "“Series B Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A B Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series B Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30Series B Preferred Unit Distribution Payment Date, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 1 contract

Samples: Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Senior Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Parity Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, if any, holders of Series A C Preferred Units shall be entitled to receive, when, as and if authorized and declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1259 1/8% of the original Capital Contribution per Stated Value of the Series A C Preferred UnitUnits. Such distributions shall be cumulative, shall accrue from the original date of issuance and will all distributions accrued to the scheduled date of payment shall be payable in cash (Ai) quarterly in arrears, on or before March 3115, June 3015, September 30 15 and December 31 15 of each year commencing on June 30September 15, 1998 1999 and, (B), ii) in the event of (iA) an exchange of Series A C Preferred Units into Series A C Cumulative Redeemable Preferred Stock of the General Partner (the "Series C Preferred Stock"), or (iiB) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will shall be computed on the basis of a 360-day year of twelve 30-day months and the amount of the distribution payable on the initial Preferred Unit Distribution Payment Date and for any other period shorter or longer than a full quarterly period for which distributions are computed, the amount of the distribution payable will computed shall be computed on the basis of the actual number of days elapsed in such a 30-day monthelapsed. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will shall be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will shall be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days 60 days prior to the relevant Preferred Unit Distribution Payment Date (the each, a "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Urban Shopping Centers Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A, 22.3A and 24.3A hereof), holders of Series A H Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitH Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A H Preferred Units into Series A H Preferred StockShares, or (ii) a redemption of Series A H Preferred Units, on the exchange date or redemption date, as applicable (each a "Series H Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding 104 calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A H Preferred Units will be made to the holders of record of the Series A H Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series H Preferred Unit Distribution Payment Date (the "Series H Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series N Preferred Units, Series I Preferred Units, Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the rights of holders of Parity Senior Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Parity Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, if any, holders of Series A D Preferred Units shall be entitled to receive, when, as and if authorized and declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1259.45% of the original Capital Contribution per Stated Value of the Series A D Preferred UnitUnits (the "Series D Preferred Distribution"). Such distributions Distributions shall be cumulative, shall accrue from the original date of issuance and will all distributions accrued to the scheduled date of payment shall be payable in cash (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on and including the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 3115, June 3015, September 30 15 and December 31 15 of each year commencing on June 30December 15, 1998 1999 (with the first such payment to include the amount accrued from the period commencing October 1, 1999 and ending December 15, 1999) and, (B), ) in the event of (i1) an exchange of Series A D Preferred Units into Series A Preferred StockD Exchanged Units, or (ii2) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will shall be computed on the basis of a 360-day year of twelve 30-day months months, and the amount of the distribution payable on the initial Preferred Unit Distribution Payment Date and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will computed shall be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthquarterly period to 90 days. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will shall be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will shall be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days 60 days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Rodamco North America N V

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 19.3A and 20.3A hereof), holders of Series A H Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitH Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A H Preferred Units into Series A H Preferred StockShares, or (ii) a redemption of Series A H Preferred Units, on the exchange date or redemption date, as applicable (each a "Series H Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A H Preferred Units will be made to the holders of record of the Series A H Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series H Preferred Unit Distribution Payment Date (the "Series H Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the rights of holders Holders of ------------------------ Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders pursuant to Section 5.1 hereof, Holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.075% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31February 15, June 30May 15, September 30 August 15 and December 31 November 15 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into REIT Series A Preferred StockShares, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit -------------- Distribution Payment Date"), commencing (i) in the case of Series A Preferred ------------------------- Units originally issued on February 6, 1998, on May 15, 1998 and (ii) in the case of all other Series A Preferred Units, on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders Holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").. --------------------------------------

Appears in 1 contract

Samples: Kilroy Realty Corp

Payment of Distributions. Subject to the rights of holders of ------------------------ Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 hereof, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, arrears on or before March 31February 15, June 30May 15, September 30 August 15 and December 31 November 15 of each year year, commencing on June 30May 15, 1998 1998, and, (B), ) in the event of (i) an exchange of Series A Preferred Units into REIT Series A Preferred StockShares, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment ----------------------------------- Date"), commencing (i) in the case of Series A Preferred Units originally issued ---- on March 4, 1998, on May 15, 1998 and (ii) in the case of all other Series A Preferred Units, on the first of such payment dates to occur following their original date of issuance. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").. --------------------------------------

Appears in 1 contract

Samples: National Golf Properties Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions pursuant to Section 5.1 of the Partnership Agreement, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitPriority Return. Such distributions Priority Return shall be cumulative, shall accrue from the original date of issuance and of the Series C Preferred Units and, notwithstanding Section 5.1 of the Partnership Agreement, will be payable (Ai) quarterly in arrears, arrears on or before March 311, June 301, September 30 1 and December 31 1 of each year commencing on June 30December 1, 1998 and1999, and (B), ii) in the event of (iA) a redemption of Series C Preferred Units, or (B) an exchange of Series A C Preferred Units into Series A C Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange redemption date or redemption the exchange date, as applicable (each a "Series C Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case such date with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Series C Preferred Unit Distribution Payment Date (the "Series C Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Ps Business Parks Inc/Ca

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 16.3.A, 17.3A, 18.3A, 19.3A, 20.3A and 22.3A hereof), holders of Series A H Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitH Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A H Preferred Units into Series A H Preferred StockShares, or (ii) a redemption of Series A H Preferred Units, on the exchange date or redemption date, as applicable (each a "Series H Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A H Preferred Units will be made to the holders of record of the Series A H Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series H Preferred Unit Distribution Payment Date (the "Series H Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units, the Series D Preferred Units and the Series C Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as to the payment of distributions3 CPOP Units, holders in accordance with Section 5.1, Holders of Series A Preferred 3 CPOP Units shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit3 CPOP Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance of such Series 3 CPOP Units or, if later, the most recent Series 3 CPOP Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series 3 CPOP Distribution Record Date has passed), and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 of each year year, commencing on June 30the first of such dates to occur after the original date of issuance, 1998 and, (B), ii) in the event of (i) an exchange a redemption or conversion of Series A Preferred Units into 3 CPOP Units, and solely with respect to the redeemed or converted Series A Preferred Stock3 CPOP Units, or (ii) a redemption of Series A Preferred Unitsas applicable, on the exchange redemption or conversion date or redemption date(each, as applicable (each a "Preferred “Series 3 CPOP Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred 3 CPOP Units is not a Business Day, then payment of the distribution to be made on such date will may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (and, in each case with the same force and effect as if made on such date. Distributions on June 30any case, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount 120 so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred 3 CPOP Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date"to such next Business Day).

Appears in 1 contract

Samples: Agreement (Rexford Industrial Realty, Inc.)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 8.4 of the Partnership Agreement, holders of Series A C Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Operating Cash Flow and Capital Transaction ProceedsCash Flow, cumulative preferential cash distributions at the rate per annum of 8.1258.875% of the original Capital Contribution per Series A C Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last day (or, June 30if not a Business Day (as hereinafter defined), the next succeeding Business Day of each of March, June, September 30 and December 31 of each year commencing on June September 30, 1998 1999 and, (B), ii) in the event of (iA) an exchange of Series A C Preferred Units into Series A C Preferred StockStock (as hereinafter defined), or (iiB) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment DateSERIES C PREFERRED UNIT DISTRIBUTION PAYMENT DATE"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten the same day as the record date for any distribution payable on Junior Units (10) days and as hereinafter defined), with respect to the same period, or, if no such distribution is payable in respect of the Junior Units, the 20/th/ day of the calendar month in which the applicable distribution falls or on such earlier date designated on at least 10 days' notice by the Board of Directors of the General Partner as the record date for such distribution that is not more than thirty (30) Business Days 30 nor less than 10 days prior to the relevant such Series C Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DateSERIES C PREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Heritage Property Investment Trust Inc

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A T Preferred Units as to the payment of distributions, pursuant to Section 5.1 and Section 24.3.A of the Partnership Agreement, holders of Series A T Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1256.25% of the original Capital Contribution stated value of $25 per Series A T Preferred Unit. Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30the first such date to occur after the original date of issuance, 1998 and, and (B), ii) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A T Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series T Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve (12) 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A T Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A T Preferred Units will be made to the holders of record of the Series A T Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Prologis, L.P.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance The General Partner, as holder of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitUnit in an amount equal to the Series A Priority Return accrued thereon, at the applicable rate, in accordance with this Section 16.2. Such distributions shall accrue and be cumulativecumulative from and including April 1, shall accrue from 2020 (the original date of issuance “Series A Preferred Unit Initial Accrual Date”) and will be payable at the then applicable rate (Aeach a “Series A Preferred Unit Distribution Payment Date”) quarterly in arrears(i) for the period from the Series A Preferred Unit Initial Accrual Date to June 30, 2021, on or before March 31about July 12, June 302021, September 30 and December 31 (ii) except as provided in clause (iii), for each monthly distribution period thereafter, monthly in equal amounts in arrears on or about the 12th calendar day of each year calendar month, commencing on June 30or about August 12, 1998 and2021, and (Biii) to the extent that any Series A Preferred Unit is redeemed pursuant to Section 4.7.B after a Series A Distribution Record Date with respect to any distribution and before the payment date (determined in accordance with clause (i) or (ii)) of such distribution, in the event of (i) an exchange a redemption of any Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred UnitsUnit, on the exchange redemption date or redemption dateof such Unit; provided however, as applicable (each a "if any Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Date is not a Business Day, then payment of the distribution to which would otherwise be made payable on such date will shall be made paid on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such Series A Preferred Unit Distribution Payment Date, and no interest or other sum shall accrue on the amount so payable from such Series A Preferred Unit Distribution Payment Date to such next succeeding Business Day. Distributions will be payable on Series A Preferred Units outstanding at the close of business on the applicable Series A Distribution Record Date. Each distribution is payable to holders of record of outstanding Series A Preferred Units as of the applicable Series A Distribution Record Date or date of redemption of such Series A Preferred Unit, as applicable. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series A Preferred Unit outstanding on any Series A Distribution Record Date shall be equal to the distribution paid with respect to each other Series A Preferred Unit that is outstanding on such date. B. Distributions on June 30, 1998 and thereafter Cumulative. Distributions on the Series A Preferred Units will be made to the holders of record of cumulative from and including the Series A Preferred Units Unit Initial Accrual Date, or, with respect to the special distribution right referred to in Section 16.2.E below, from, and including, the first date on which the dividend rate payable on the relevant record dates to be fixed by REIT Series A Preferred Shares is increased in accordance with the Partnership acting through Series A Preferred Shares Terms. Distributions will accumulate from the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to Series A Preferred Unit Initial Accrual Date or the relevant most recent Series A Preferred Unit Distribution Payment Date (to which accrued distributions have been paid, whether or not the "Preferred Unit terms and provisions set forth in Section 16.2.D hereof at any time prohibit the current payment of distributions, whether or not the Partnership Record Date")has Available Cash or earnings and whether or not such distributions are authorized.

Appears in 1 contract

Samples: Agreement (Mobile Infrastructure Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units as to the payment of distributions and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith preferred units ranking senior to the Series A B Preferred Units issued after the date hereof in accordance herewith as to the payment of distributions, holders of Series A B Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceedsfunds legally available for the payment of distributions, cumulative preferential cash distributions at the rate per annum of 8.1258.30% of the original Capital Contribution per Series A B Preferred Unit. Such distributions shall be cumulative, cumulative and shall accrue from the original date first day of issuance the applicable Distribution Period (as defined herein), and will be payable (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 not later than the third calendar day after the end of each year commencing on June 30, 1998 the applicable Distribution Period and, (B), in the event of (i) an exchange of Series A B Preferred Units into Series A B Preferred StockShares, or (ii) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "PREFERRED UNIT DISTRIBUTION PAYMENT DATE"). For purposes of this Amendment, the term "DISTRIBUTION PERIOD" shall mean quarterly distribution periods commencing on January 1, April 1, July 1 and October 1 of each year and ending on and including the day preceding the first day of the next succeeding Distribution Period with respect to any Series B Preferred Unit Units (other than the initial Distribution Payment Date"Period, which shall commence on the original date of issuance for such Series B Preferred Units and end on and include the last day of the calendar quarter immediately following the original date of issuance, and other than the Distribution Period during which any Series B Preferred Units shall be redeemed or exchanged, which shall end on and include the date of such redemption or exchange). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on July 1, 1998 and thereafter on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DatePREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Prentiss Properties Trust/Md

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A, 21.3A and 22.3A hereof), holders of Series A G Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitG Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 15th day of January, June 30April, September 30 July and December 31 October of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A G Preferred Units into Series A G Preferred StockShares, or (ii) a redemption of Series A G Preferred Units, on the exchange date or redemption date, as applicable (each a "Series G Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A G Preferred Units will be made to the holders of record of the Series A G Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series G Preferred Unit Distribution Payment Date (the "Series G Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, Series H Preferred Units, the Series G Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as to the payment of distributions1 CPOP Units, holders in accordance with Section 5.1, Holders of Series A Preferred 1 CPOP Units shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential 120 cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit1 CPOP Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance of such Series 1 CPOP Units or, if later, the most recent Series 1 CPOP Unit Distribution Payment Date (as defined below) to which distributions have been paid in full (or declared and the corresponding Series 1 CPOP Distribution Record Date has passed), and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 of each year year, commencing on June 30the first of such dates to occur after the original date of issuance, 1998 and, (B), ii) in the event of (i) an exchange a redemption or conversion of Series A Preferred Units into 1 CPOP Units, and solely with respect to the redeemed or converted Series A Preferred Stock1 CPOP Units, or (ii) a redemption of Series A Preferred Unitsas applicable, on the exchange redemption or conversion date or redemption date(each, as applicable (each a "Preferred “Series 1 CPOP Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred 1 CPOP Units is not a Business Day, then payment of the distribution to be made on such date will may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business DayDay (and, in each case with the same force and effect as if made on such date. Distributions on June 30any case, 1998 and thereafter no interest or additional dividends or other sums shall accrue on the amount so payable from such Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred 1 CPOP Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date"to such next Business Day).

Appears in 1 contract

Samples: Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitPriority Return. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series A Preferred Units are issued or, if later, the most recent Series A 104 Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full, and shall accrue from the original date of issuance and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year commencing on June 30December 31, 1998 2016, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series A Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to Unit Distribution Payment Date, and no interest or additional dividends or other sums shall accrue on the holders of record of the amount so payable from such Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 1 contract

Samples: Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units as to the payment of distributions and any holders of Partnership Interests equity securities issued after the date of issuance of the Series A Preferred Units hereof in accordance herewith with the Partnership Agreement ranking senior to the Series A 3 Preferred Units as to the payment of distributions, holders of Series A 3 Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsProceeds legally available for the payment of distributions, cumulative preferential cash distributions at the rate per annum of 8.1257.45% of the original Capital Contribution $25 liquidation preference per Series A 3 Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable in cash (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and2003 with respect to the Old Series 3 Preferred Units and March 31, 2008 with respect to the New Series 3 Preferred Units, and (B), ) in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Unitsredemption, on the exchange redemption date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A 3 Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Regency Centers Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A and 21.3A hereof), holders of Series A I Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitI Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A I Preferred Units into 115 Series A I Preferred StockShares, or (ii) a redemption of Series A I Preferred Units, on the exchange date or redemption date, as applicable (each a "Series I Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A I Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A I Preferred Units will be made to the holders of record of the Series A I Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series I Preferred Unit Distribution Payment Date (the "Series I Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series N Preferred Units, Series I Preferred Units, the Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Corp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance MIC, as holder of the Series A 2 Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, holders of Series A Preferred Units shall will be entitled to receive, when, as and if declared authorized by the Partnership acting through the General PartnerBoard, out distributions payable in kind in additional Series 2 Preferred Units at a cumulative annual rate of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.12510.0% of the original Capital Contribution $1,000.00 per unit liquidation preference of the Series A 2 Preferred Unit. Such distributions shall be cumulativeUnits for the period beginning from, shall accrue from and including, the original date of issuance of such Series 2 Preferred Unit and will be payable (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, ending on the exchange date or redemption date, as applicable (each a "Series 2 Preferred Unit Distribution Payment Date"). The amount ; provided that if the Series 2 Preferred Unit Distribution Payment Date occurs prior to the first anniversary of the distribution payable for any period will be computed on the basis original date of issuance of such Series 2 Preferred Unit, such Series 2 Preferred Unit shall receive distributions at a 360-day year cumulative annual rate of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount 10.0% of the distribution payable will $1,000.00 per unit liquidation preference for a period of one year, which shall be computed on the basis of the actual number of days elapsed paid in such a 30-day month. If any date on which distributions are to be made full on the Series A 2 Preferred Unit Distribution Payment Date. Distributions shall be payable in kind only on a single payment date and shall not be payable in cash. Distributions shall be payable on the date (and immediately preceding the time) that the Series 2 Preferred Units convert into Common Units in accordance with Section 18.7 (the “Series 2 Preferred Unit Distribution Payment Date”); provided, that if the Series 2 Preferred Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series 2 Preferred Unit Distribution Payment Date may be made paid on the next preceding or succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant 2 Preferred Unit Distribution Payment Date (and no interest, additional distributions or other sums shall accrue thereon. Distributions will be payable on Series 2 Preferred Units outstanding at the "close of business on the Series 2 Distribution Record Date. Notwithstanding any provision to the contrary contained herein, the distribution payable on each Series 2 Preferred Unit Partnership outstanding on the Series 2 Distribution Record Date")Date shall be equal to the distribution paid with respect to each other Series 2 Preferred Unit that is outstanding on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp)

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A B Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.875% of the original Capital Contribution per Series A B Preferred UnitUnit for the period up to and including February 23, 2004, and at the rate per annum of 7.25% of the original Capital Contribution per Series B Preferred Unit for the period from and after February 24, 2004. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30March 31, 1998 1999 and, (B), ii) in the event of (iA) an exchange of Series A B Preferred Units into Series A B Preferred StockShares (as hereinafter defined), or (iiB) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "“SERIES B PREFERRED UNIT DISTRIBUTION PAYMENT DATE”). The holders of the Series B Preferred Unit Distribution Payment Date")Units acknowledge that all quarterly distributions have been made through and including the quarterly period ended December 31, 2003. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months (or actual days for any month which is shorter than a full monthly period), and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. The amount of the distribution payable on March 31, 2004 under the Partnership Agreement and this Exhibit H shall be $1.0277 per Series B Preferred Unit, representing the conversion of the Priority Return from 8.875% per annum to 7.25% per annum during the quarterly period ended on such date, calculated as follows: (x) the month of January 2004 is counted as a 30-day month with a Priority Return of 8.875% per annum and the period from and including February 1, 2004 to and including February 23, 2004 is counted as a 23-day period of a 29-day month with a Priority Return of 8.875% per annum, (y) the period from and including February 24, 2004 to and including February 29, 2004 is counted as a six-day period of a 29-day month with a Priority Return of 7.25% per annum and the month of March 2004 is counted as a 30-day month with a Priority Return of 7.25% per annum, and (z) the amounts for the periods described in the preceding clauses (x) and (y) were added to obtain the distribution payable per Series B Preferred Unit on March 31, 2004. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Series B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date"“SERIES B PREFERRED UNIT PARTNERSHIP RECORD DATE”).

Appears in 1 contract

Samples: Colonial Properties Trust

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsdistributions (including pursuant to Sections 5.1, 17.3A, 18.3A, 19.3A and 21.3A hereof), holders of Series A I Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred UnitI Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31the 25th day of March, June 30June, September 30 and December 31 of each year commencing on June 30, 1998 and, and (B), ) in the event of (i) an exchange of Series A I Preferred Units into Series A I Preferred StockShares, or (ii) a redemption of Series A I Preferred Units, on the exchange date or redemption date, as applicable (each a "Series I Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed , commencing on the basis first of a 360-day year such payment dates to occur following their original date of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day monthissuance. If any date on which distributions are to be made on the Series A I Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A I Preferred Units will be made to the holders of record of the Series A I Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series I Preferred Unit Distribution Payment Date (the "Series I Preferred Unit Partnership Record Date"). For purposes of clarifying the relative distribution priority rights among the Series I Preferred Units, the Series H Preferred Units, the Series F Preferred Units, the Series E Preferred Units and the Series D Preferred Units, the payment of distributions with respect to a series of such Preferred Units prior to the payment of distributions with respect to another such series of Preferred Units, solely as a result of the distribution payment dates with respect to a series of Preferred Units occurring on a different date from another series of Preferred Units, shall not be deemed to create a priority in favor of one series of Preferred Units over any other series of Preferred Units.

Appears in 1 contract

Samples: Amb Property Lp

Payment of Distributions. Subject to the preferential rights of holders Holders of Parity Preferred Units and any holders class or series of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith Partnership now or hereafter issued and outstanding, ranking senior to the Series A Preferred Units as with respect to the payment of distributions, holders pursuant to Section 5.1, the General Partner, as holder of the Series A Preferred Units Units, shall be entitled to receive, when, as and if declared authorized by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at in an amount equal to the rate per annum of 8.125% of the original Capital Contribution per aggregate Series A Priority Return attributable to such Series A Preferred UnitUnits in accordance with this Article 18. Such distributions shall accrue and be cumulativecumulative from and including the first date on which any Series A Preferred Units are issued or, if later, the most recent Series A Preferred Unit Distribution Payment Date (as defined below) to which distributions have been paid in full, and shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31the last calendar day of March, June 30June, September 30 and December 31 December, of each year 110 commencing on June 30December 31, 1998 2016, and, (Bii), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange redemption date or redemption date, as applicable (each a "“Series A Preferred Unit Distribution Payment Date"). The amount of the distribution payable for ; provided, however, if any period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made which would otherwise have been payable on such date will Series A Preferred Unit Distribution Payment Date may be made paid, at the General Partner’s option, on either the immediately preceding Business Day or the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) Day, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made paid on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to Unit Distribution Payment Date, and no interest or additional dividends or other sums shall accrue on the holders of record of the amount so payable from such Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date")to such next succeeding Business Day.

Appears in 1 contract

Samples: Rexford Industrial Realty, Inc.

Payment of Distributions. Subject to the rights of holders of Parity Senior Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Parity Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributionsUnits, if any, holders of Series A C Preferred Units shall be entitled to receive, when, as and if authorized and declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1259 1/8% of the original Capital Contribution per Stated Value of the Series A C Preferred UnitUnits (the "Series C Preferred Distribution"). Such distributions shall be cumulative, shall accrue from the original date of issuance and will all distributions accrued to the scheduled date of payment shall be payable in cash (A) quarterly in arrears, on or before March 3115, June 3015, September 30 15 and December 31 15 of each year commencing on June 30September 15, 1998 1999 and, (B), ) in the event of (i1) an exchange of Series A C Preferred Units into Series A Preferred StockC Exchanged Units, or (ii2) a redemption of Series A C Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will shall be computed on the basis of a 360-day year of twelve 30-day months and the amount of the distribution payable on the initial Preferred Unit Distribution Payment Date and for any other period shorter or longer than a full quarterly period for which distributions are computed, the amount of the distribution payable will computed shall be computed on the basis of the actual number of days elapsed in such a 30-day monthelapsed. If any date on which distributions are to be made on the Series A C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will shall be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A C Preferred Units will shall be made to the holders of record of the Series A C Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days 60 days prior to the relevant Preferred Unit Distribution Payment Date (the each, a "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Rodamco North America N V

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A D Preferred Units as to the payment of distributions, pursuant to Section 6.2 of the Partnership Agreement, holders of Series A D Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Net Operating Cash and Capital Transaction ProceedsFlow, cumulative preferential cash distributions at the rate per annum of 8.1257.625% of the original Capital Contribution per Series A D Preferred UnitUnit (the "Issuance Rate"). Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30the first such date to occur after the original date of issuance, 1998 and, (Bii), in the event of (iA) an exchange of Series A D Preferred Units into Series A D Preferred StockShares, or (iiB) a redemption of Series A D Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve (12) 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A D Preferred Units is not a Business DayDay (as such term is defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A D Preferred Units will be made to the holders of record of the Series A D Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Liberty Property Limited Partnership

Payment of Distributions. Subject to the rights of holders of ------------------------ Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units hereof in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction Proceeds, cumulative preferential cash distributions at the rate per annum of 8.125% of the original Capital Contribution per Series A Preferred Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (A) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30, 1998 and, (B), in the event of (i) an exchange of Series A Preferred Units into Series A Preferred Stock, or (ii) a redemption of Series A Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit -------------- Distribution Payment Date"). The amount of the distribution payable for any ------------------------- period will be computed on the basis of a 360-day year of twelve 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. If any date on which distributions are to be made on the Series A Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A Preferred Units will be made to the holders of record of the Series A Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten (10) days and not more than thirty (30) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DatePREFERRED UNIT -------------- PARTNERSHIP RECORD DATE").. -----------------------

Appears in 1 contract

Samples: Regency Centers Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, holders of Series A B Preferred Partnership Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1259.00% of the original Capital Contribution per Series A B Preferred Partnership Unit. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrearsarrears for the three-month periods ending on the last day of February, May, August and November, such dividends to be payable for the quarter just ended on or before March 31the lst day of each of March, June 30June, September 30 and December 31 of each year year, commencing on June 30December 1, 1998 and1999, and (B), ii) in the event of (ia) an exchange of Series A B Preferred Partnership Units into for Series A B Preferred StockShares, or (iib) a redemption of Series A B Preferred Partnership Units, on the exchange date or redemption date, as applicable (each a A "Preferred Unit Distribution Payment DateSERIES B PREFERRED PARTNERSHIP UNIT DISTRIBUTION PAYMENT DATE"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months and and, for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A B Preferred Partnership Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Partnership Units will be made to the holders of record of the Series A B Preferred Partnership Units on the relevant record dates to be fixed by the Partnership acting through the General Partnerdates, which record dates shall will be not less than ten fifteen (1015) days and not more than thirty (30) Business Days prior to the relevant Series B Preferred Partnership Unit Distribution Payment Date (the "Preferred Unit Partnership Record DateSERIES B PREFERRED PARTNERSHIP UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Chelsea Gca Realty Partnership Lp

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A G Preferred Units as to the payment of distributions, pursuant to Section 6.2 of the Partnership Agreement, holders of Series A G Preferred Units shall will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Net Operating Cash and Capital Transaction ProceedsFlow, cumulative preferential cash distributions at the rate per annum of 8.1256.70% of the original Capital Contribution per Series A G Preferred UnitUnit (the “Issuance Rate”). Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30the first such date to occur after the original date of issuance, 1998 and, (Bii), in the event of (iA) an exchange of Series A G Preferred Units into Series A G Preferred StockShares, or (iiB) a redemption of Series A G Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment Date"). The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve (12) 30-day months and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed based on the basis ratio of the actual number of days elapsed in such a 30-day monthperiod to ninety (90) days. If any date on which distributions are to be made on the Series A G Preferred Units is not a Business DayDay (as such term is defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A G Preferred Units will be made to the holders of record of the Series A G Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record Date").

Appears in 1 contract

Samples: Liberty Property Trust

Payment of Distributions. Subject to the rights of holders of Parity Preferred Units and any holders of Partnership Interests issued after the date of issuance of the Series A Preferred Units in accordance herewith ranking senior to the Series A Preferred Units as to the payment of distributions, pursuant to Section 5.1 of the Partnership Agreement, holders of Series A B Preferred Units shall be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash and Capital Transaction ProceedsCash, cumulative preferential cash distributions at the rate per annum of 8.1258.875% of the original Capital Contribution per Series A B Preferred UnitUnit for the period up to and including February 23, 2004, and at the rate per annum of 7.25% of the original Capital Contribution per Series B Preferred Unit for the period from and after February 24, 2004. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (Ai) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on or before March 31, June 30, September 30 and December 31 of each year commencing on June 30March 31, 1998 1999 and, (B), ii) in the event of (iA) an exchange of Series A B Preferred Units into Series A B Preferred StockShares (as hereinafter defined), or (iiB) a redemption of Series A B Preferred Units, on the exchange date or redemption date, as applicable (each a "Preferred Unit Distribution Payment DateSERIES B PREFERRED UNIT DISTRIBUTION PAYMENT DATE"). The holders of the Series B Preferred Units acknowledge that all quarterly distributions have been made through and including the quarterly period ended December 31, 2003. The amount of the distribution payable for any period will be computed on the basis of a 360-day year of twelve 30-day months (or actual days for any month which is shorter than a full monthly period), and for any period shorter than a full quarterly period for which distributions are computed, the amount of the distribution payable will be computed on the basis of the actual number of days elapsed in such a 30-day month. The amount of the distribution payable on March 31, 2004 under the Partnership Agreement and this Exhibit H shall be $1.0277 per Series B Preferred Unit, representing the conversion of the Priority Return from 8.875% per annum to 7.25% per annum during the quarterly period ended on such date, calculated as follows: (x) the month of January 2004 is counted as a 30-day month with a Priority Return of 8.875% per annum and the period from and including February 1, 2004 to and including February 23, 2004 is counted as a 23-day period of a 29-day month with a Priority Return of 8.875% per annum, (y) the period from and including February 24, 2004 to and including February 29, 2004 is counted as a six-day period of a 29-day month with a Priority Return of 7.25% per annum and the month of March 2004 is counted as a 30-day month with a Priority Return of 7.25% per annum, and (z) the amounts for the periods described in the preceding clauses (x) and (y) were added to obtain the distribution payable per Series B Preferred Unit on March 31, 2004. If any date on which distributions are to be made on the Series A B Preferred Units is not a Business DayDay (as defined herein), then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Distributions on June 30, 1998 and thereafter on the Series A B Preferred Units will be made to the holders of record of the Series A B Preferred Units on the relevant record dates to be fixed by the Partnership acting through the General Partner, which record dates shall be not less than ten in no event exceed fifteen (10) days and not more than thirty (3015) Business Days prior to the relevant Series B Preferred Unit Distribution Payment Date (the "Preferred Unit Partnership Record DateSERIES B PREFERRED UNIT PARTNERSHIP RECORD DATE").

Appears in 1 contract

Samples: Colonial Properties Trust

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