Common use of Timing of Distributions of Current Class A Return and Priority Class A Return Clause in Contracts

Timing of Distributions of Current Class A Return and Priority Class A Return. Distributions of Current Class A Return under Section 6.6(b) or Section 6.8(e) and Priority Class A Return under Section 6.6(c) or Section 6.8(c) will be made on a monthly basis on or before the 10th day of each calendar month following the calendar month to which the Current Class A Return or Priority Class A Return relates. If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a “Delayed Distribution”), the Current Class A Return and the Priority Class A Return (if any) shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)

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Timing of Distributions of Current Class A Return and Priority Class A Return. Distributions of Current Class A Return under Section 6.6(b) or Section 6.8(e6.7(a) and Priority Class A Return under Section 6.6(c) or Section 6.8(c) 6.7(b), if any, will be made on a monthly basis on or before the 10th day of each calendar month following the calendar month to which the Current Class A Return or Priority Class A Return relates. If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a "Delayed Distribution"), the Current Class A Return and Return, the Priority Class A Return (if any) and the Total Class A Return shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)

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Timing of Distributions of Current Class A Return and Priority Class A Return. Distributions of Current Class A Return under Section 6.6(b) or Section 6.8(e) and Priority Class A Return under Section 6.6(c) or Section 6.8(c) will be made on a monthly basis on or before the 10th day of each calendar month following the calendar month to which the Current Class A Return or Priority Class A Return relates. If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a "Delayed Distribution"), the Current Class A Return and the Priority Class A Return (if any) shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)

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