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. In the event that there is insufficient Distributable Operating Income in order to pay the Preferred Return, the Preferred Return may be paid out of a loan from the General Partner, the General Partner’s capital contribution (if any), third-party borrowings, or the Limited Partners’ capital contributions, or any combination of the foregoing. If the General Partner utilizes its capital contribution to pay the Preferred Return, any portion of such Preferred Return payment that the General Partner would receive will not be paid, but will accrue until such time as the Preferred Return may be paid out of Distributable Operating Income.
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. When distributions are made, Members will receive the first dollars of Distributions from the previous month (as determined by the Manager) until they have received their Preferred Return. After payment of the Preferred Return, EDC from the previous quarter, as determined by the Manager, will be distributed with 80% to the Members ratably to their Ownership Interest and 20% to the Manager.
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. Equity Investors shall be entitled to distributions equal to seven percent (7%) per annum on their Unreturned Capital Contributions as a preferred return (the “Preferred Return” as defined above). Provided the Manager determines in its sole discretion that the Company has sufficient cash reserves to justify a distribution, the Preferred Return shall be distributed quarterly to the Equity Investors (such distribution may be a partial distribution based upon the Manager’s determination).