Common use of Quarterly Distributions Clause in Contracts

Quarterly Distributions. (1) The Post Partners, in their capacity as the holders of the then outstanding Series B Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 per Series B Preferred Partnership Unit per year, payable in equal amounts of $0.47656 per unit quarterly in cash on the last day of each March, June, September, and December or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December 31, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period ending on a Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B Preferred Partnership Units at the time outstanding.

Appears in 2 contracts

Samples: Post Apartment Homes Lp, Post Apartment Homes Lp

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Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B D Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 20.00 per Series B D Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on or about the last day of January, April, July and October of each March, June, September, and December year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December Day, commencing July 31, 1997 1998 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B D Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B D Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B D Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B D Preferred Partnership Units at the time outstanding.

Appears in 2 contracts

Samples: Highwoods Forsyth L P, Highwoods Properties Inc

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B A Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 86.25 per Series B A Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on the last day of each MarchFebruary, JuneMay, SeptemberAugust, and December November of each year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December Day, commencing May 31, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B A Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B A Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B A Preferred Partnership Units at the time outstanding.

Appears in 2 contracts

Samples: Highwoods Properties Inc, Highwoods Forsyth L P

Quarterly Distributions. (1) The Post Partners, in their capacity as the holders of the then outstanding Series B C Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 per Series B C Preferred Partnership Unit per year, payable in equal amounts of $0.47656 per unit quarterly in cash on the last day of each March, June, September, and December or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December 31, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period ending on a Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B C Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B C Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B C Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B C Preferred Partnership Units at the time outstanding.

Appears in 2 contracts

Samples: Post Apartment Homes Lp, Post Properties Inc

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B A Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 4.25 per Series B A Preferred Partnership Unit per year, payable in equal amounts of $0.47656 1.0625 per unit quarterly in cash on the last day of each March, June, September, and December or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December 31, 1997 1996 (each such day being hereafter called a "Quarterly Distribution Date" and each period ending on a Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B A Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B A Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B A Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Post Apartment Homes Lp

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 2.00 per Series B Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on the last day March 15, June 15, September 15 and December 15 of each March, June, September, and December year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on Day, commencing December 3115, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Highwoods Properties Inc

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 2.00 per Series B Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on the last day March 15, June 15, September 15 and December 15 of each March, June, September, and December year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on Day, commencing December 3115, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Highwoods Properties Inc

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Quarterly Distributions. (1) A. The Post Partners, in their capacity as the holders of the then outstanding Series B A Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 4.25 per Series B A Preferred Partnership Unit per year, payable in equal amounts of $0.47656 1.0625 per unit quarterly in cash on the last day of each March, June, September, and December or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December 31, 1997 1996 (each such day being hereafter called a "Quarterly Distribution Date" and each period ending on a Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B A Preferred Partnership Units are earned or declared declared; or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B A Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B A Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Post Apartment Homes Lp

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B A Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 86.25 per Series B A Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on the last day of each MarchFebruary, JuneMay, SeptemberAugust, and December November of each year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December Day, commencing May 31, 1997 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B A Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B A Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B A Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Highwoods Properties Inc

Quarterly Distributions. (1) The Post PartnersGeneral Partner, in their its capacity as the holders holder of the then outstanding Series B D Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 20.00 per Series B D Preferred Partnership Unit per year, payable quarterly in equal amounts of $0.47656 per unit quarterly arrears in cash on or about the last day of January, April, July and October of each March, June, September, and December year or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December Day, commencing July 31, 1997 1998 (each such day being hereafter called a "Quarterly Distribution Date" and each period beginning on the day next following a Quarterly Distribution Date and ending on a the next following Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B D Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B D Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B D Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B D Preferred Partnership Units at the time outstanding.

Appears in 1 contract

Samples: Highwoods Properties Inc

Quarterly Distributions. (1) A. The Post Partners, in their capacity as the holders of the then outstanding Series B A Preferred Partnership Units, shall be entitled to receive, when and as declared by the General Partner out of any funds legally available therefor, cumulative quarterly distributions at the rate of $1.90625 4.25 per Series B A Preferred Partnership Unit per year, payable in equal amounts of $0.47656 1.0625 per unit quarterly in cash on the last day of each March, June, September, and December or, if not a Business Day (as hereinafter defined), the next succeeding Business Day beginning on December 31, 1997 1996 (each such day being hereafter called a "Quarterly Distribution Date" and each period ending on a Quarterly Distribution Date being hereinafter called a "Distribution Period"). Quarterly distributions on each Series B A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B A Preferred Partnership Units are earned or declared declared; or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions. Quarterly distributions paid on the Series B A Preferred Partnership Units in an amount less than the total amount of such quarterly distributions at the time accrued and payable on such Partnership Units shall be allocated pro rata on a per unit basis among all such Series B A Preferred Partnership Units at the time outstanding.. EXHIBIT E (Page 1 of 4)

Appears in 1 contract

Samples: Post Apartment Homes Lp

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