Priority Return definition

Priority Return means a 6% cumulative, non-compounded, pre-tax annual return (based on a 365-day year).

Priority Return means with respect to (i) the Series C Preferred Units, the Series C Priority Return, (ii) the Series D Preferred Units, the Series D Priority Return and (iii) the Series E Preferred Units, the Series E Priority Return.

Priority Return means, as of any date, an aggregate amount equal to a 6% cumulative, non-compounded, annual return on Invested Capital, prorated for any partial year. For purposes of calculating the Priority Return for any calendar year or portion thereof, the Company will use the daily weighted average amount of Invested Capital for such period.

Examples of Priority Return in a sentence

• If the Aggregate TRS Priority Return is not paid in full for any calendar year, the unpaid amount shall not continue to be payable pursuant to clause (3) of Section 3.01 in subsequent years, but shall continue to be due and bear interest at the Interest Rate for the purposes of Section 5.01.

• The Aggregate Base Fee and Aggregate TRS Priority Return shall be subject to adjustment by increasing or decreasing the payment due in the following month based upon Aggregate Gross Revenues reflected in the Aggregate Monthly Financial Statements and increases or decreases in Aggregate Invested Capital reported to Manager by TRSes, as the case may be.

• The Aggregate TRS Priority Return and payments to TRSes pursuant to clause (5) of Section 3.01 shall be allocated among TRSes as TRSes shall determine in their sole discretion, and Manager shall have no responsibility or liability in connection therewith.

• The Aggregate TRS Priority Return and accrued interest, if any, shall be paid on the first Business Day of each calendar month, in advance in approximately equal monthly installments, based upon Aggregate Invested Capital most recently reported to Manager by TRSes.

• Prior to exercising the right to terminate, TRSes shall give Manager notice and if within ten (10) days thereafter, Manager funds the Priority Return Shortfall together with interest accrued thereon at the Interest Rate (a “Manager Shortfall Advance”), TRSes shall not exercise the right to terminate, provided Manager may not exercise its right to fund the Priority Return Shortfall more frequently than once every four (4) years.

More Definitions of Priority Return

Priority Return means a seven percent (7.0%) per annum cumulative, pre-tax non-compounded return on Invested Capital.

Priority Return means with respect to (i) the Series D Preferred Units, the Series D Priority Return, (ii) the Series E Preferred Units, the Series E Priority Return, (iii) the Series F Preferred Units, the Series F Priority Return, (iv) the Series H Preferred Units, the Series H Priority Return and (v) the Series I Preferred Units, the Series I Priority Return.

Priority Return means an amount equal to 5.25% per annum, of the Liquidation Preference per Series X Preferred Unit, commencing on the date of issuance of such Series X Preferred Unit, determined on the basis of a 360-day year (and twelve 30-day months), cumulative to the extent not distributed on any Series X Preferred Unit Distribution Payment Date (as defined below).

Priority Return means, an amount equal to 8.95% per annum, determined on the basis of a 360-day year of twelve (12) 30-day months (or actual days for any month which is shorter than a full monthly period), cumulative to the extent not distributed for any given distribution period pursuant to Section 3 hereof, of the stated value of $25.00 per Series B Preferred Unit, commencing on the date of issuance of such Series B Preferred Unit.

Priority Return means a non-cumulative, non-compounded return, equal to six percent (6%) per annum on Invested Capital, paid on an aggregate basis from distributions from all sources.

Priority Return means an --------------- amount equal to 8.875% per annum, determined on the basis of a 360 day year of twelve 30 day months, cumulative to the extent not distributed for any given distribution period pursuant to Section 5.1 of the Partnership Agreement, of the stated value of $25 per Series G Preferred Unit, commencing on the date of issuance of such Series G Preferred Unit. The term "Subsidiary" shall mean with ---------- respect to any person, any corporation, partnership, limited liability company, joint venture or other entity of which a majority of(i) voting power of the voting equity securities or (ii) the outstanding equity interests, is owned, directly or indirectly, by such person. The term "PTP" shall mean a "publicly --- traded partnership" within the meaning of Section 7704 of the Code. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Partnership Agreement.

Priority Return means an amount equal to 5.75% per annum, of the Liquidation Preference per Series U Preferred Unit, commencing on the date of issuance of such Series U Preferred Unit, determined on the basis of a 360-day year (and twelve 30-day months), cumulative to the extent not distributed on any Series U Preferred Unit Distribution Payment Date (as defined below).