Base Preference definition

Base Preference means, with respect to any Member, an amount equal to the excess of (i) a return, computed like interest, compounded annually, at a rate of 10% per annum on the unrecovered Initial Contributions of the Member over (ii) all distributions made to the Member under Section 6.1(5). Base Preference will accrue on unrecovered Initial Contributions from the date any Initial Contribution is first funded to the Company.
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Examples of Base Preference in a sentence

  • For the avoidance of doubt, the Base Preference Return shall continue to accrue with respect to each Series A Convertible Preferred Unit until such date as the holder of the applicable Series A Convertible Unit to be redeemed is redeemed and such holder receives the applicable Redemption Price in full.

  • Distributions made to a holder pursuant to this Section 5.1(e) (the “Special Series A Distribution”) shall be treated as an advance of, and shall immediately reduce, without duplication, each of the Base Preference Return and the Series A Conversion Payment Amount by the amount of such Special Series A Distribution.

  • A Cabin Crew Member may withdraw or alter their Statement Base Preference Bid at any time.

  • The Company will acknowledge receipt of their Statement of Base Preference Bid in writing to the Cabin Crew Member.

  • Statement of Base Preference Bids will be subject to seniority in accordance with Article 16.

  • Cabin Crew who desire a Base transfer shall keep a Statement of Base Preference Bid on file with the Company stating the Base(s) in order of preference to which they desire to transfer.

  • Cabin Crew are expected to keep their Statement of Base Preference Bid current.