Series B Preferred Return definition

Series B Preferred Return shall have the meaning provided in Section 5(a).

Series B Preferred Return means, for each Series B Preferred Unit, a cumulative, non-compounded rate of return equal to $0.74 per annum; provided, that the amount payable for any Series B Distribution Period shall be computed by dividing the Series B Preferred Return by twelve, and the amount of distributions payable for any period shorter or longer than a full Series B Distribution Period shall be computed on the basis of twelve 30-day months and a 360-day year.

Series B Preferred Return means, with respect to any outstanding Series B Preferred Unit as of the relevant time of reference thereto, a cumulative non-compounding preferred return computed at an annual rate of eight percent (8%), on the Unreturned Capital Contribution with respect to such Series B Preferred Unit. The Series B Preferred Return with respect to each Series B Preferred Unit shall continue to accrue day to day with respect to each Capital Contribution in respect of each Series B Preferred Unit on the Unreturned portion of each Capital Contribution from time to time until the earlier of (i) the date on which the full amount of such Capital Contribution has been returned and (ii) the date on which such Series B Preferred Unit is otherwise no longer outstanding.

Examples of Series B Preferred Return in a sentence

• The Series B Preferred Return shall be payable quarterly, in equal amounts, on or about the 15th day of January, April, July and October of each year (or, if not a business day, the next succeeding business day, each a “Series B Preferred Unit Distribution Payment Date’’) for the period ending on such Series B Preferred Unit Distribution Payment Date, commencing on July 15, 2014.

• The Series B Preferred Return shall accrue and be cumulative from and including the date of original issue of any Series B Preferred Units and shall be payable quarterly in arrears, on or about the 15th day of each January, April, July and October of each year (or, if not a Business Day, the next succeeding business day, each a “Series B Preferred Unit Distribution Payment Date”) for the period ending on such Series B Preferred Unit Distribution Payment Date, commencing on January 18, 2022.

• The accrued unpaid Series B Preferred Return will include a portion of the return that accrued on the Viamet Series B Shares prior to the Spin-Off, which will be allocated to reflect the separation of the businesses.

• The Series B Preferred Interests issued in payment of the Series B Allocated Preferred Return shall be entitled to receive a Series B Preferred Return from the date of their issuance.

• Series B Redemption Shares that are subject to redemption but that have not been redeemed and the Series B Redemption Price paid or set aside with respect thereto due to insufficient legally available funds shall continue to be entitled to the Series B Preferred Return, conversion and other rights, preferences, privileges and restrictions of such Shares until such Shares have been redeemed and the Series B Redemption Price has been paid or set aside thereto.

More Definitions of Series B Preferred Return

Series B Preferred Return shall have the meaning provided in Section 14.04(a).

Series B Preferred Return means an amount per Series B Preferred Unit equal to the greater of (i) an annual distribution of $1.84 or (ii) the regular cash distributions on the Common Units, or portion thereof, into which a Series B Preferred Unit is convertible. The Series B Preferred Return will be based on the General Partner's Capital Contribution in respect of the Series B Preferred Units for which the Series B Preferred Return is being determined as provided in the definition of Series B Preferred Units below (taking into account any reduction of such Capital Contribution by any redemptions or conversions of such Series B Preferred Units), commencing on the first date such Series B Preferred Units are issued to the General Partner. It is intended that the Series B Preferred Return will be equal to the dividends and any additional amounts payable on the Series B Preferred Shares to the holders thereof so that the General Partner will receive a Series B Preferred Return in an amount sufficient for the General Partner to make all payments in respect of the Series B Preferred Shares.

Series B Preferred Return means, with respect to the Series B Interest, a return, calculated in the nature of interest, at a rate equal to the Series B Preferred Return Rate on the Series B Unreturned Preferred Capital. For any partial quarterly period, the amount of the Series B Preferred Return shall be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months.

Series B Preferred Return means, as of any date of determination, with respect to a holder of Series B Preferred Shares, an amount equal to the Series B Preferred Rate, cumulative and compounded semi-annually, on the amount of the holder's Series B Invested Capital, from the date of the initial Capital Contribution in respect of such Series B Shares to the date of determination (taking into account, as appropriate, payments pursuant to Section 6.2(c) with respect to such Series B Preferred Return).

Series B Preferred Return means an annualized amount equal to $2.00 per Series B Preferred Unit.

Series B Preferred Return means an amount equal to 11.0% per annum (or during any High Leverage Period, 16% per annum) paid quarterly, accrued from the date of each Capital Contribution on (a) Unpaid Capital Contributions of such Series B Preferred Limited Partner Interest and (b) any accrued but unpaid, Series B Preferred Return.

Series B Preferred Return shall have the meaning provided in the Second Amendment to the Agreement of Limited Partnership of the Partnership.