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.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.)