6.5% Return definition
6.5% Return means, with respect to each of the General Partner and Limited Partners with respect to Partnership Units issued in connection with the acquisition of the Included Assets, an amount calculated like simple interest at the rate of six and one-half percent (6.5%) per annum calculated on the varying daily balances of such Partner’s Invested Capital, in each case during the period to which the 6.5% Return relates, and determined on the basis of a 360-day year/30-day month, cumulative for the period for which such 6.5% Return is being determined.
Examples of 6.5% Return in a sentence
The Original Invested Capital less Distributions in excess of the Stockholders’ 6.5% Return.
Net Sales Proceeds shall be distributed to the Partners as determined by the General Partner in its sole and absolute discretion in accordance with their respective Percentage Interests as of the applicable Partnership Record Date until the Unrecovered Contribution Account and 6.5% Return Account of the General Partner have been reduced to zero ($0).
If the Stockholders have not received total Distributions in an amount equal to 100% of Original Invested Capital plus the Stockholders’ 6.5% Return through the Termination Date, an appraisal of the Properties then owned by the Company shall be made.