Preferred Distribution Amount definition

Preferred Distribution Amount means the amount equal to the sum of the amounts necessary to satisfy Distribution level 1, Distribution level 2 and Distribution level 3(a) described in Annex A-1 Section 4(a) only (Asset Sale Scenario) of Exhibit C of the Certificates of Designations.

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Preferred Distribution Amount means, in any particular month, 1/12th of $0.25 with respect to each Preferred Share;

Preferred Distribution Amount means, for any quarter or other period with respect to which a Company Share dividend is paid and a distribution is required to be made pursuant to Section 5.02(a)(1), an amount equal to such amount that if it were the sole amount distributed on a Preferred Unit pursuant to Section 5.02(a)(1) for such quarter or other period would provide the Preferred Unitholder with a distribution on such Preferred Unit equal to 103% of the corresponding Company Share dividend to be paid for such quarter or other period. Notwithstanding the foregoing, the aggregate Preferred Distribution Amount with respect to any Preferred Unitholder shall not exceed the Preferred Unitholder's Capital Account balance (after reducing such balance to reflect the items described in Regulations section 1.704-1(b)(ii)(2)(d)(4), (5) and (6) and after increasing such Capital Account balance to reflect such Preferred Unitholder's shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain), determined as of the date of the relevant distribution.

Examples of Preferred Distribution Amount in a sentence

Should this ten (10) working day time frame not be met, the Union though the ▇▇▇▇▇▇▇ will be informed with reasons for the delay.
Therefore, as used throughout this Agreement, the phrase “the purchase price determined pursuant to Article 11” when used in connection with a Membership Interest shall be equal to the Member’s Unreturned Capital Contribution plus the Member’s Unreturned Preferred Distribution Amount.
No Net Profits shall be allocated to a Non-managing Member with respect to a distribution of a Preferred Distribution Amount for a Fiscal Year unless such Member has actually received such Distribution in the same Fiscal Year, or within ninety (90) days following the end of such Fiscal Year.
If the Company defaults in providing to the Preferred Unitholders cash for the Preferred Units to be redeemed as set forth in the Final Company Redemption Notice, then the Preferred Units shall remain outstanding and continue to accumulate the Preferred Distribution Amount and have all other rights, preferences and privileges of Preferred Units.
SCHEDULE 3.2(a)(vi) Approved Leases and Lease Documentation NONE SCHEDULE 5.1 Capital Accounts, Capital Contributions, Membership Units and Series A Preferred Membership Units SCHEDULE 7.1 Calculations of the Preferred Distribution Amount Under the terms of the Series A Convertible Preferred Units ("Preferred Units"), the Preferred Holders are entitled to a distribution equal to the greater of (A) 6% or (B) the distribution to the Preferred Holders assuming a full conversion of the Preferred Units.

More Definitions of Preferred Distribution Amount

Preferred Distribution Amount means, for any calendar quarter, an amount equal to (A) the greater of (i) the Preferred Distribution and (ii) an amount equal to (x) the Preferred Percentage times (y) the excess of Cumulative Distribution Amount over all distributions made pursuant to Section 7.1(b)(ii)(A) of this Agreement in the current calendar year, less (B) all distributions theretofore made pursuant to Section 7.1(b)(ii)(B) of this Agreement with respect to the then current calendar year. For illustrative purposes, an example of the manner in which the Preferred Distribution Amount is calculated under various hypothetical assumptions is set forth in Schedule 7.1.

Preferred Distribution Amount means the sum of (a) $1000 per Preferred Unit (the "Per Unit Preferred Capital Contribution"), plus (b) dividends on the unpaid Per Unit Preferred Capital Contribution from the date made as set forth on Schedule A hereto at the rate of 22.5% per annum, increasing by 2.5% every six months, up to a maximum rate of 35% (the "Priority Return").

Preferred Distribution Amount has the meaning set forth in Section 5.01(a).

Preferred Distribution Amount means, in any particular month, 1/12th of $0.25 with respect to each Preferred Share.

Preferred Distribution Amount means, for any calendar quarter, an amount equal to (A) the greater of (i) the Preferred Distribution and (ii) an amount equal to (x) the Preferred Percentage times (y) the Cumulative Distribution Amount less all distributions made pursuant to Section 7.1(a-2)(i)(A) of this Agreement or Section 7.1(a-2)(i)(A) of the WWP Agreement with respect to the then current calendar year, less (B) all distributions theretofore made pursuant to Section 7.1(a-2)(i)(B) of this Agreement or Section 7.1(a-2)(i)(B) of the WWP Agreement with respect to the then current calendar year.

Preferred Distribution Amount with respect to such Preferred Unit). Unless paid in cash as determined by the Board, each such Quarterly Preferred Distribution shall be paid by the Company in kind by increasing the Preferred Stated Value of each Preferred Unit on its books and records by the applicable Preferred Distribution Amount on the applicable Preferred Distribution Date (each a “PIK Distribution”). The distributions to the holders of Preferred Units will be payable quarterly in arrears on each of January 1, April 1, July 1 and October 1 of each year, or if such date is not a Business Day, the next succeeding Business Day (each such date, the “Preferred Distribution Date”); provided, that, (i) any amounts that accrue under this Section 5.01 during the time period between the applicable Preferred Distribution Date and such Business Day will not be applied to increase the applicable Preferred Distribution Amount, but will be payable at the following Preferred Distribution Date, and (ii) the Preferred Distribution Amount shall be pro-rated with respect to the first Fiscal Quarter occurring after the Effective Date.

Preferred Distribution Amount means $10,334,000 less the aggregate Distributions made by the Corporation that constitute Distributions of the Preferred Distribution Amount.