Extended DD Period definition
Extended DD Period means any period commencing with the first day of the Quarter in which the final Distribution Deficiency in a series of Distribution Deficiencies that, together, constitute an Extended Deficiency occurs and ending with the payment of all accrued and unpaid distributions in cash in full pursuant to Section 4.6(c).
Examples of Extended DD Period in a sentence
Notwithstanding anything to the contrary in this Agreement, should a Distribution Deficiency exist any three (3) Quarters during the period of any four (4) consecutive Quarters (an “Extended Deficiency”), then, until the termination of the Extended DD Period, the Initial Investors shall have the right to appoint two (2) Extended Deficiency Directors to the board of directors of the General Partner, and the Designating Parties shall take all actions to effect such right of appointment.
Upon termination of the Extended DD Period, the Class B Distribution Rate then in effect shall be reduced by 0.5% of the Class B Issue Price in addition to the reduction described above in Section 4.6(c)(vii)(A).