Preferential Distribution definition

Preferential Distribution with respect to each Class D OP Unit, means an amount equal to the excess, if any, of (x) the aggregate Preferred Return on the Preferred Capital with respect to such Class D OP Unit over (y) the aggregate of all amounts previously distributed with respect to such Class D OP Unit pursuant to Section 5.1 of the Partnership Agreement.
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Preferential Distribution means the full amount of the preferential distribution to which the Preferred Limited Partner is entitled under this Agreement, as set forth on Schedule III hereto. (t) "Preferred Limited Partner" shall mean the Person set forth on Schedule I hereto who holds a preferred limited partnership interest in the Partnership as indicated on such Schedule. (u) "Proceeds" shall mean any and all proceeds from the Judgment and/or the Cause of Action, including, but not limited to, proceeds pursuant to a final, non-appealable judgment or settlement of the Lawsuit based on or arising out of the Cause of Action, or any foreclosure on the Judgment or the Cause of Action by any Person who holds a Lien on such Judgment or Cause of Action, and including, without limitations all interest thereon. (v) "Security Agreement" shall mean the Security Agreement, dated as of April 17, 1998, by the General Partner and the Partnership in favor of GECC.
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Preferential Distribution shall have the meaning given such term in the Partnership Agreement.
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Examples of Preferential Distribution in a sentence

  • With respect to the Series I Preferred Unit Distribution Payment Date occurring on December 31, 2015, in addition to the amount distributable pursuant to the first sentence of this Section 24.2.A, the General Partner, as holder of the Series I Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, a preferential cash distribution in an amount equal to $795,638.65 (the “Series I Preferential Distribution Amount”).

  • While any Class D OP Units are issued and outstanding, the General Partner shall not pay any quarterly distribution in accordance with Section 5.1 of the Agreement with respect to any class of OP Unit that is junior in rank with regard to the payment of distributions pursuant to Section 5.1 of the Agreement prior to the declaration and payment of the Preferential Distribution with regard to any issued and outstanding Class D OP Unit.

  • Each KCN Investment Entity electing to have its Class K Common Units treated as Class K Preferred Units on and after the Final Closing Date shall deliver a Preferential Distribution Notice at least sixty (60) days prior to the Final Closing Date.

  • After the declaration and payment of the First Distribution Payment, Series C Units shall pay a distribution equal to the Preferential Distribution, to the extent provided herein.

  • If and when all accumulated distributions on the Series E Preferred Shares have been authorized and paid or set aside for payment in full, the holders of the Series E Preferred Shares shall be divested of the special voting rights provided by this subparagraph (2) of paragraph (E), subject to revesting in the event of each and every subsequent Preferential Distribution Non-Payment.

  • Immediately upon a Preferential Distribution Termination Event, each such issued and outstanding Class C OP Unit shall automatically be converted into an equal amount of OP Units, without any action required on the part of the Class C OP Unit holder.

  • If and when all accumulated distributions on the Series D Preferred Shares have been authorized and paid or set aside for payment in full, the holders of the Series D Preferred Shares shall be divested of the special voting rights provided by this Section 17.5(b), subject to revesting in the event of each and every subsequent Preferential Distribution Non-Payment.

  • While any Class C OP Units are issued and outstanding, the General Partner shall not pay any quarterly distribution in accordance with Section 5.1 of the Agreement with respect to any class of OP Unit that is junior in rank with regard to the payment of distributions pursuant to Section 5.1 of the Agreement prior to the declaration and payment of the Preferential Distribution with regard to any issued and outstanding Class C OP Unit.

  • Subject to Section 3.1, the first distribution to be paid for each Class C OP Unit after its issuance (the "First Distribution Payment") shall equal the product of (i) the Preferential Distribution (subject to adjustment in the event of a Reclassification) multiplied by (ii) a fraction, the numerator of which is the First Distribution Period (as defined below) and the denominator of which is the number of days in the calendar quarter to which such First Distribution Period corresponds.

  • Upon a Preferential Distribution Termination Event, the corresponding Contingent Value Right shall detach from the Class C OP Unit and shall automatically attach to the OP Unit issued in exchange for the terminated Class C OP Unit.

Related to Preferential Distribution

  • Special Distribution has the meaning ascribed thereto in Section 4.2(2);

  • Liquidation Distribution has the meaning specified in Section 9.4(d).

  • Capital Distribution means, with respect to any Person, a payment made, liability incurred or other consideration given for the purchase, acquisition, repurchase, redemption or retirement of any Equity Interest of such Person or as a dividend, return of capital or other distribution in respect of any of such Person’s Equity Interests.

  • Final Distribution means any distribution made in redemption of all or a portion of the Up-MACRO Holding Shares pursuant to Section 5.2(a) or 5.2(c) on the Final Scheduled Termination Date, an Early Termination Date or a Redemption Date.

  • Final Distributions means, with respect to the Certificates of any Trust on any Distribution Date, the sum of (x) the aggregate amount of all accrued and unpaid interest on such Certificates (excluding interest, if any, payable with respect to the Deposits relating to such Trust) and (y) the Pool Balance of such Certificates as of the immediately preceding Distribution Date (less the amount of the Deposits for such Class of Certificates as of such preceding Distribution Date other than any portion of such Deposits thereafter used to acquire Equipment Notes pursuant to the Note Purchase Agreement). For purposes of calculating Final Distributions with respect to the Certificates of any Trust, any Premium paid on the Equipment Notes held in such Trust which has not been distributed to the Certificateholders of such Trust (other than such Premium or a portion thereof applied to the payment of interest on the Certificates of such Trust or the reduction of the Pool Balance of such Trust) shall be added to the amount of such Final Distributions.