Preferred Returns Clause Samples
POPULAR SAMPLE Copied 11 times
Preferred Returns. All Member Preferred Contributions made to the Company shall entitle the Member who made such Member Preferred Contributions to receive a cumulative preferred return on such Member Preferred Contributions of 5% per annum, which preferred return will be paid in cash on a quarterly basis subject to there being cash available to be distributed therefor pursuant to Section 5.1(b)(i). The parties acknowledge that it shall not be a default hereunder if preferred returns on any Member Preferred Contribution are not paid at any time if funds are not available to pay the same pursuant to Section 5.1(b)(i) (it being understood that such preferred returns will continue to be due and owing and will be payable when cash is next available therefor pursuant to Section 5.1(b)(i)). Distributions of preferred returns on Member Preferred Contributions must be made to each Member simultaneously pro rata based on each Member’s respective proportion of outstanding Member Preferred Contributions. Members shall begin to receive distributions in respect of their outstanding Member Preferred Contributions on a quarterly basis promptly following the quarter ended December 31, 2021 pursuant to Section 5.1(b)(ii). The parties acknowledge that it shall not be a default hereunder if distributions in respect of outstanding Member Preferred Contributions are not paid at any time after December 31, 2021 if funds are not available to pay the same pursuant to Section 5.1(b)(ii) (it being understood that such outstanding Member Preferred Contributions will continue to be due and owing and will be payable when cash is next available therefor pursuant to Section 5.1(b)(ii)).
Preferred Returns. Next, to the Preferred Members, pro-rated to their respective interests in the Company, in amounts equal to the actual, cumulative distributions of Preferred Returns to such Preferred Member pursuant to Section 10 of this Agreement, to the extent that such distributions of Preferred Returns have not previously been taken into account under this Section 9.2.2.(c) or another section of this Agreement that would provide for a similar allocation of taxable income to match Preferred Returns; and
Preferred Returns. Next, pro-rata among the Limited Partners in amounts equal to the actual distributions of Preferred Returns to such Limited Partners pursuant to Section 7.01(a) and/or Section 7.02(b) below; and
Preferred Returns. The Preferred Return for each class of Preferred Units ----------------- shall be as follows: Class of Preferred Units Preferred Return ------------------------ ---------------- Class A-1 Units $0.04 per Unit per annum Class A-2 Units $0.045 per Unit per annum Class A-3 Units $0.045 per Unit per annum
Preferred Returns. There are no outstanding default loans, accrued preferred returns or internal rate of return look-backs contained in the LLC Agreement or otherwise and/or affecting the LLC or Seller’s interest therein or the amount of the Purchase Price payable to Seller hereunder.
Preferred Returns. The Company’s books and records shall be maintained to reflect the following preferred return accounts:
(i) A preferred return (“Developer Preferred Return”) account shall be maintained for Developer calculated at the greater of ten percent (10%) per annum or two (2) percentage points per annum in excess of the Prime Rate (as it may be adjusted from time to time), compounded monthly (the “Preferred Return Rate”), on the portion of Developer’s Unrecovered Capital Account attributable to its Initial Capital outstanding from time to time. The Members acknowledge and agree that (A) Developer was required to deposit One Million Five Hundred Twenty Thousand Seven Hundred Nine Dollars ($1,520,709.00) (“Deposit”) pursuant to the Purchase Agreement, and (B) effective the date the Deposit was made, Developer shall accrue Developer Preferred Return on such Deposit.
(ii) A preferred return (“Base Capital Preferred Return”) account shall be maintained for IHP calculated at the Preferred Return Rate, on the portion of IHP’s Unrecovered Capital Account attributable to its Base Capital outstanding from time to time.
(iii) A preferred return (“Revolving Capital Preferred Return”) account shall be maintained for IHP calculated at the Preferred Return Rate, on the portion of IHP’s Unrecovered Capital Account attributable to its Revolving Capital outstanding from time to time.
(iv) A preferred return (“Additional Capital Preferred Return”) account shall be maintained for each Member calculated at the Preferred Return Rate, with respect to IHP, on the portion of IHP’s Unrecovered Capital Account attributable to its Additional Capital outstanding from time to time, and with respect to Developer, on the portion of Developer’s Unrecovered Capital Account attributable to its Additional Capital (exclusive of Excess Additional Capital) outstanding from time to time.
(v) For purposes of this Agreement, unless otherwise specified, the term “Preferred Return” shall include the Developer Preferred Return, the Base Capital Preferred Return, the Revolving Capital Preferred Return and the Additional Capital Preferred Return. From and after the occurrence of an Event of Default, the Preferred Return Rate with respect to the non-defaulting Member shall be increased by five hundred (500) basis points. Each Preferred Return account shall be decreased to the extent that such Member has received distributions from the Company in reduction of such Preferred Return account as set forth in this Agr...
Preferred Returns. Distributions shall be made to holders of SCS Profits Units until the SCS Preferred Returns (as defined below) payable under this Section 3.3 have been paid in full, prior to making any distributions or payments under Section 3.3(d) hereof.
Preferred Returns. 9 ----------------- 4.3. Withholding...............................................................9 ----------- 4.4. First-Year Proration......................................................9 -------------------- 4.5. Default on Preferred Return...............................................9 ---------------------------