Preferred Payment Date definition
Examples of Preferred Payment Date in a sentence
On the Series A PIK Preferred Payment Date, the Partnership shall issue to such Series A Unitholder a Certificate or Certificates for the number of Series A PIK Preferred Units to which such Series A Unitholder shall be entitled.
On each applicable Series B PIK Preferred Payment Date, the Partnership shall issue to such Series B Unitholder a Certificate or Certificates for the number of Series B PIK Preferred Units to which such Series B Unitholder shall be entitled on such Series B PIK Preferred Payment Date.
On the Series C PIK Preferred Payment Date, the Partnership shall issue to such Series C Unitholder a Certificate or Certificates for the number of Series C PIK Preferred Units to which such Series C Unitholder shall be entitled.
In addition to the foregoing, the Partnership may make cash Distributions with respect to any Unpaid Amounts on a date other than a Preferred Payment Date, as determined by the General Partner.
At least two (2) Business Days prior to any applicable Preferred Payment Date, the Partnership shall notify the Preferred Partners in writing as to whether the Partnership has elected to pay the Distribution contemplated by this Section 4.1(b) in respect of the applicable Fiscal Quarter in cash on such Preferred Payment Date or has elected instead to defer payment of such Distribution and have the accrued but unpaid amount of such Distribution added to the Unpaid Amounts.
On the Series E PIK Preferred Payment Date, the Partnership shall issue to such Series E Unitholder a Certificate or Certificates for the number of Series E PIK Preferred Units to which such Series E Unitholder shall be entitled.
If permitted pursuant to the terms of the Mortgage Loan Documents, such Preferred Monthly Distribution shall be payable in arrears on each Preferred Payment Date commencing on June 15, 2013.
Distributions shall be payable to the Preferred Member identified on Schedule A or to any Preferred Member Transferee of which the Manager has written notice prior to any Preferred Payment Date in accordance with the terms hereof.
Except as set forth in Section 7.6(c)(iv), a Preferred Mandatory Payment is payable out of positive Cash Earnings for the semi-annual period preceding the relevant Preferred Payment Date (the "Cash Earnings Limitation"), but any unpaid amount shall be considered an "Amount Past Due" in accordance with clause (B) of the preceding sentence and shall be due and payable on the next Preferred Payment Date (subject to the Cash Earnings Limitation for such date).
On the Series A PIK Preferred Payment Date, the Partnership shall issue to such holder a certificate or certificates for the number of Series A PIK Preferred Units to which such holder shall be entitled (with the number of and denomination of such certificates designated by such holder).