Priority Return. As of any date, an aggregate amount equal to an 6% cumulative, non-compounded, annual return on Invested Capital, prorated for any partial year. For purposes of calculating the Priority Return for any calendar year or portion thereof, the Company will use the daily amount of Invested Capital for such period.
Priority Return. As of any date, an aggregate amount equal to a 6% cumulative, non-compounded, annual return on Invested Capital, prorated for any partial year. For purposes of calculating the Priority Return for any calendar year or portion thereof, the Company will use the daily weighted average amount of Invested Capital for such period. Notwithstanding the foregoing, the Priority Return of 6% will be effective only upon approval by the Company’s stockholders of an amendment to the Company’s articles of incorporation wherein the Priority Return is changed from 8% to 6%. Until the approval of such amendment by the stockholders, the Priority Return will be 8%.
Priority Return. A cumulative preferred return thereon commencing on the date of issuance as follows:
Priority Return. First, the Company shall distribute to each Class A Member an amount equal to the excess, if any, of (i) the Priority Return of the Class A Member from the date such Class A Member first has Unre- turned Capital to the date of such distribution, over (ii) the sum of all prior distributions to such Class A Member pursuant to Section 4.1(a) and this Section 4.2(a). If less than the total amount distributable to all Class A Members under this Section 4.2(a) is to be distributed, the amount distributed shall be allocated among the Class A Members in proportion to the then unsatisfied amounts owing to them.
Priority Return. For each Investor, and NOX to the extent of any cash capital contributions as of any date, the sum of (a) the Capital Contributions in the form of cash or other immediately available funds of such Investor, plus (b) the Cumulative Tax Liability of such Investor as of such date.
Priority Return. “Priority Return” means a sum equal to fourteen percent (14%) per annum, determined on the basis of a year of 365, as the case may be, for the actual number of days occurring in the period for which the Priority Return is being determined, cumulative to the extent not distributed in any given quarter pursuant to Section 5.2(a) hereof, of the average daily balance of the Preferred Unit Holder’s Preferential Return Account from time to time during the period to which the Priority Return relates, commencing on the date the Preferred Unit Holder first makes a Capital Contribution pursuant to Section 3.1 hereof.
Priority Return. Gross income for each Fiscal Year shall be allocated to each Partner receiving payments in such Fiscal Year of the Priority Return and that portion of the ORD Preference relating to net income generated by the operations of the Hotel as described in (i) of the definition of “ORD Preference”; such gross income being allocated to the extent of such payments made with respect to such Fiscal Year.
Priority Return. The Borrower's First Priority Return and the Borrower's Second Priority Return shall be a return on, and to the extent applicable, a return of, the Borrower's equity investment in the Project. The amount of the Borrower's First Priority Return and the manner of payment thereof shall be as follows: from net sales proceeds in connection with residences constructed on Tracts D and F, and Tract E to the extent the same is acquired by the Borrower, an amount equal to 2% of gross sales proceeds for each such residence, provided that (a) the Borrower's First Priority Return shall not be greater than $30,000.00 in a given calendar month (and amounts payable but for this limit shall not accrue), and (b) the aggregate of all amounts paid to the Borrower in respect of the Borrower's First Priority Return shall not exceed an amount equal to 4% of the sum of (x) development costs for the Tract Infrastructure in connection with Tracts D and F, and Tract E to the extent the same is acquired by the Borrower, and (y) the costs of construction of improvements on Tracts D and F, and Tract E to the extent the same is acquired by the Borrower. Notwithstanding anything to the contrary contained herein, the payment of the Borrower's First Priority Return shall be strictly conditioned upon (aa) there not existing at the time that the same would otherwise be paid, a default or event of default pursuant to the Loan Documents, or any event or circumstance which with the passing of time or the giving of notice, or both, would be a default or event of default pursuant to the Loan Documents, and (bb) to the extent that any portion of the principal or interest (at the Interest Rate) pursuant to the Loan remains outstanding, a minimum payment with respect to each residence conveyed, in an amount to be specified in the Loan Documents, shall have been applied to reduce the same. In addition to the First Contingent Return, the Lender shall be entitled to an additional contingent return equal to ten (10%) percent of the Net Profits on Tracts D, E and F, and five (5%) percent of the Net Profits on Tracts B and C, in each case, as reduced by (a) the First Contingent Return and the Borrower's First Priority Return, and (b) the Borrower's Second Priority Return, as hereinafter defined, provided, however, in the event that the Loan is reduced by the sum of $1,000,000.00 including interest at the Interest Rate thereon, on or before September 1, 1996, the foregoing percentages shall be reduced to f...
Priority Return. As of any date, calculated separately as to each Priority Unit, an amount equal to fifteen percent (15%) per annum on the amount of the Partner’s Capital Contribution for such Priority Unit from (a) the date upon which the Partner’s Capital Contribution for such Priority Unit was made, to (b) December 31, 2009.
