Preferred Return. The term “Preferred Return” means, with respect to each Member, an amount calculated like interest and accrued on the balance standing from time to time in such Member’s Unrecovered Contribution Account at a simple interest rate equal to nine percent (9%) per annum, non-compounded, and determined on a cumulative basis. For financial and income tax reporting purposes, neither accrual nor payment of the Preferred Return shall be an expense of the Company nor be treated as a guaranteed payment under Section 707(c) of the Code.
Preferred Return. As noted, Distributions are not assured. Gilmore Homes Gilmore Loans | 15 Company Operating Agreement Note (Amended): Our Company may never raise enough capital to move forward with its intended business operations. First, to the Members, pro rata in accordance with their percentage interests in the Company as defined in the Operating Agreement (Percentage Interests), until all Members have received a cumulative, non compounded preferred return per annum on their Capital Contributions.
Preferred Return. The General Partner shall be entitled to receive, and the Partnership shall pay, a distribution (the “Series G Preferred Return”) on each Series G Preferred Unit equal to the return applicable to each share of the related Series G Preferred Shares under the Articles of Incorporation. To the extent that any Series G Preferred Return is not paid when due, such amount shall accrue on the same terms and conditions as distributions on the applicable Series G Preferred Shares under the Articles of Incorporation. The Series G Preferred Return shall be due in the same amounts and on the same dates as distributions on the applicable Series G Preferred Shares are due under the Articles of Incorporation. For purposes hereof, no effect shall be given to (i) the fact that the Series G Preferred Shares may have been cancelled or (ii) any amendment or modification of the Articles of Incorporation.
Preferred Return. First, 100% to such Limited Partner, pro rata, until the aggregate distributions to all Limited Partners equal an amount representing the Annual Rate of Return Percentage (non-compounding) of the Audited Book Value of the Partnership for the Fiscal Year immediately preceding such distributions, with each Limited Partner’s share of such distributions to be calculated in accordance with such Limited Partner’s interest in the Partnership at the time of each such distribution.
Preferred Return. The Class A Units shall accrue the Preferred Return on the Class A Unreturned Capital Contributions. Preferred Returns shall accrue from the date of this Agreement. The Company shall endeavor to distribute the full amount distributable pursuant to Section 8.2(b) quarterly commencing at the end of the fifth (5th) fiscal quarter after the signing of this Agreement out of funds legally available for distribution.
Preferred Return. With respect to a Plant or Licensee Plant (other than the Demonstration Plant), the applicable Licensee or sublicensee, as the case may be, will pay Licensor an annual preferred return payment (Preferred Return) calculated on an annual basis as follows: (a) free cash flow before taxes accruing during such year (calculated as EBITDA minus scheduled principal and interest debt payments for such period actually paid, determined in accordance with U.S. GAAP) [***] of the outstanding balance of such Licensee’s or sublicensee’s unrecovered invested capital in such Licensee Plant or Plant, as the case may be, MULTIPLIED BY (b) [***]. In the event a Licensee acts as sales representative pursuant to Section 2.1 with respect to a Plant, such Licensee will be entitled to receive [***] of any such amount received by Licensor by any third party with respect thereto.
Preferred Return with respect to the Non-Managing Member, shall mean a return at the rate of 12%, compounded semi-annually on June 30 and December 31, beginning as of June 30, 1997, to the extent not distributed pursuant to Section 5.1(a), on the Unrecovered Preferred Capital.
Preferred Return. All calculations of profits and/or losses and the right to receive distributions shall be subject to the rights of EnergyTEK to receive a Preferred Return, as provided for in the Joint Venture Agreement by and between the parties hereto, dated January 6, 2015. The Preferred Return shall be considered an expense of the Company for purposes of the calculation of profits and/or losses.