Undistributed Capital definition
Examples of Undistributed Capital in a sentence
The Partners acknowledge that Schedule 1 attached hereto correctly sets forth, as of the date hereof, and as of the Closing Date (as defined below), the Undistributed Capital Amounts, Undistributed Class A Preference Amounts and Undistributed Class B Preference Amounts of each of the Partners under the Partnership Agreement.
At such time as all borrowings under the Credit Agreement have been repaid and no further borrowings are permitted thereunder, and no more than $1,000,000 in liquidation preference of Preferred Shares or Preferred Interests remains outstanding, Management Fee Capital shall be equal to the Undistributed Capital, thereby further reducing the amounts on which the Management Fee is paid.
At such time as all borrowings under the Credit Agreement have been repaid and no further borrowings are permitted thereunder, Management Fee Capital shall be equal to the sum of the Undistributed Capital, plus the aggregate liquidation preference of Preferred Shares or Preferred Interests outstanding from time to time, thereby reducing the amounts on which the Management Fee is paid.
Next, to the Class A Members, each Class A Member's Undistributed Capital.
Each Member’s Undistributed Capital shall be determined by the Company’s accountant at the end of each calendar year.
For the avoidance of doubt, the expenses of the Company, including the Management Fee, shall not reduce the amount of Undistributed Capital for purposes of calculating the 8% annual weighted average return on Undistributed Capital attributable to the Common Shares of the Parent acquired by such investors.
Next, to the Class B Member, the amount of the Class B Member's Undistributed Capital.
For the avoidance of doubt, the expenses of the Company, including the Management Fee, shall not reduce the amount of Undistributed Capital for purposes of calculating the 8% annual weighted average return on Undistributed Capital.
The Manager may elect, upon notice to the Defaulting Member, to reduce the Defaulting Member's (i) capital account balance and Undistributed Capital (as defined in Exhibit B) by an amount equal to 50 percent of the respective amount existing as of the date of the default and (ii) Capital Commitment to an amount equal to the amount of capital contributions theretofore made by such Defaulting Member.
Notwithstanding the foregoing, Tricon shall not be obligated to fund any Shortfall Amount to the extent it would result in Tricon’s Undistributed Capital at the time being in excess of $114,000,000.00 (“Tricon Contribution Cap”).