Common use of Preferred Returns Clause in Contracts

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, 2018 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, 2018 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. 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, 2018 2026 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, 2018 2026 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. 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, 2018 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, 2018 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)).