8% Preferred Return definition

8% Preferred Return means, with respect to any period commencing on ------------------- date of the Closing at which a Limited Partner is
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8% Preferred Return means an amount equal to an 8% cumulative but not compounded annual return on a Member’s Net Capital Contribution. “Act” shall mean the Delaware Limited Liability Company Act, as the same may be amended from time to time. “Adjusted Capital Account Deficit” shall mean, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant fiscal year, after giving effect to the following adjustments: (i) Credit to such Capital Account any amounts which the Member is obligated to restore and the Member’s share of Member Minimum Gain and Company Minimum Gain and; (ii) Debit to such Capital Account the items described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5), and 1.704-1(b)(2)(ii)(d)(6). “Affiliate” shall mean (i) any Person directly or indirectly controlling, controlled by or under common control with another Person; (ii) a Person owning or controlling 10% or more of the outstanding voting securities of such other Person; (iii) any officer, director or partner of such other Person; and (iv) if such other Person is an officer, director or partner, any company for which such Person acts in any capacity. “Agreement” shall mean this Amended and Restated Limited Liability Company Agreement, as amended from time to time. “Approved Budget” shall have the meaning set forth in Section 7.10. “Book Gain” shall mean the excess, if any, of the fair market value of the Property over its adjusted basis for federal income tax purposes at the time a valuation of the Property is required under this Agreement or Treasury Regulations Section 1.704-1(b) for purposes of making adjustments to the Capital Accounts. “Book Loss” shall mean the excess, if any, of the adjusted basis of Property for federal income tax purposes over its fair market value at the time a valuation of the Property is required under this Agreement or Treasury Regulations Section 1.704-1(b) for purposes of making adjustments to the Capital Accounts. “Book Value” shall mean the adjusted basis of Property for federal income tax purposes increased or decreased by Book Gain, Book Loss, Built-In Gain and Built-In Loss as reduced by depreciation, amortization or other cost recovery deductions, or otherwise, based on such Book Value. “Built-In Gain (or Loss)” shall mean the amount, if any, by which the agreed value of contributed Property exceeds (or is less than) the adjusted basis of Property contributed to the Company by a Mem...
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Examples of 8% Preferred Return in a sentence

  • Subject to Section 6.3, distributions of Net Cash Flow from Operations of the Fund for any fiscal year will be made ninety percent (90%) to the Unitholders and ten percent (10%) to the Managing Member until the “Unitholders’ 8% Preferred Return” is attained (pro rata among the Unitholders in proportion to their share of the Unitholders’ 8% Preferred Return).

  • Ten percent (10%) of the Net Sales Proceeds after Unitholders have received an amount equal to one hundred percent (100%) of their Invested Capital Contributions and their Unitholders’ 8% Preferred Return and thereafter, fifty percent (50%) of Net Sales Proceeds after Unitholders have received an amount equal to their Unitholders’ 8% Preferred Return.

  • Net Cash Flow shall be allocated and distributed as follows: First, Class A Members are entitled to receive a priority return, such that 100% of the Net Cash Flow shall be allocated and distributed to Class A Members until Class A Members have received their 8% Preferred Return.