Subordinated Incentive Listing Distribution definition

Subordinated Incentive Listing Distribution means 15% of the amount by which (i) the Market Value, plus the total of all Distributions paid to Common Stockholders (excluding any stock dividends and Distributions paid on REIT Shares redeemed by the General Partner) from the General Partner’s inception until the date that Market Value is determined, exceeds (ii) the sum of (A) Invested Capital and (B) the total Distributions required to be paid to Common Stockholders in order to pay the Stockholders’ 6% Return from inception through the date Market Value is determined. Subsidiary means, with respect to any Person, any corporation or other entity of which a majority of (i) the voting power of the voting equity securities or (ii) the outstanding equity interests is owned, directly or indirectly, by such Person.

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Subordinated Incentive Listing Distribution means the distribution payable to Advisor pursuant to Section 9(g).

Subordinated Incentive Listing Distribution means 15% of the amount by which (i) the Market Value (plus the amount payable pursuant to Section 5.2(c) hereof), plus the total of all Distributions paid to Common Stockholders (excluding any stock dividends and Distributions paid on REIT Shares redeemed by the General Partner pursuant to its share redemption program) from the General Partner’s inception until the date that Market Value is determined, exceeds (ii) the sum of (A) Invested Capital and (B) the total Distributions required to be paid to Common Stockholders in order to pay the Stockholders’ 6% Return from the General Partner’s inception through the date Market Value is determined. Subsidiary means, with respect to any Person, any corporation or other entity of which a majority of (i) the voting power of the voting equity securities or (ii) the outstanding equity interests is owned, directly or indirectly, by such Person.

Examples of Subordinated Incentive Listing Distribution in a sentence

• If the Special Limited Partner receives the Subordinated Distribution Due Upon Extraordinary Transaction pursuant to Section 5.2(e), the Special Limited Partner will no longer be entitled to receive distributions of Net Sale Proceeds pursuant to Section 5.2(b), the Subordinated Incentive Listing Distribution pursuant to Section 5.2(c) or a Termination Note pursuant to Section 5.2(d).

• If the Special Limited Partner receives the Subordinated Incentive Listing Distribution pursuant to Section 5.2(c), the Special Limited Partner will no longer be entitled to receive distributions of Net Sale Proceeds pursuant to Section 5.2(b), a Termination Note pursuant to Section 5.2(d) or the Subordinated Distribution Due Upon Extraordinary Transaction pursuant to Section 5.2(e).

• Upon Listing, and as soon as practicable following the determination of Market Value, the General Partner shall cause the Partnership to distribute to the Special Limited Partner in complete redemption of the Special Limited Partner Interest the Subordinated Incentive Listing Distribution.

• The Subordinated Incentive Listing Distribution shall be due and payable to the Special Limited Partner no earlier than seven months and no later than 19 months after Listing in either cash, Partnership Units or REIT Shares (or any combination thereof) in the sole discretion of the Independent Directors.

• If the Subordinated Incentive Listing Distribution is paid in Partnership Units or REIT Shares (or any combination thereof) the value on such date shall be determined by the Value of the REIT Shares.

• Neither the Advisor nor any of its Affiliates can earn both the Subordinated Participation in Net Sales Proceeds and the Subordinated Incentive Listing Distribution.

• If the Advisor is paid a Subordinated Incentive Listing Distribution, “Net Income” for purposes of calculating total Operating Expenses, shall exclude the gain from the Sale of any Assets.

• Any portion of the Subordinated Participation in Net Sales Proceeds that the Advisor receives prior to Listing will offset the amount otherwise due pursuant to the Subordinated Incentive Listing Distribution.

• Upon Listing, the Advisor shall be entitled to the Subordinated Incentive Listing Distribution in an amount equal to 15.0% of the amount by which (i) the Market Value of the Company’s outstanding Shares plus distributions paid by the Company prior to Listing, exceeds (ii) the sum of (A) 100% of Invested Capital and (B) the total Distributions required to be paid to the Stockholders in order to pay the Stockholders’ 6.0% Return from inception through the date that Market Value is determined.

• The Subordinated Incentive Listing Distribution shall be due and payable to the Special Limited Partner no earlier than one hundred eighty (180) days and no later than two hundred seventy (270) days after Listing in either cash, Partnership Units or REIT Shares (or any combination thereof) in the sole discretion of the Independent Directors.

More Definitions of Subordinated Incentive Listing Distribution

Subordinated Incentive Listing Distribution means 15% of the amount by which (i) the Market Value, plus the total of all Distributions paid to Common Stockholders (excluding any stock dividends and Distributions paid on REIT Shares redeemed by the General Partner) from the General Partner’s inception until the date that Market Value is determined, exceeds (ii) the sum of (A) Invested Capital and (B) the total Distributions required to be paid to Common Stockholders in order to pay the Stockholders’ 6% Return from inception through the date Market Value is determined.

Subordinated Incentive Listing Distribution means the sum of the following amounts: