Preferred Return Amount definition

Preferred Return Amount means, with respect to each Class A-1 Member, a return on the Capital Return Account of such Class A-1 Member computed like interest at the rate per Fiscal Year equal to eight percent (8%) cumulative and compounded annually (prorated for any partial Fiscal Year) on each Class A-1 Member’s Capital Return Account.

Preferred Return Amount means, at any time, the sum of the Annual Preferred Return Amounts for the current fiscal year and all prior fiscal years.

Preferred Return Amount with respect to any Capital Member at any time of determination means the amount which would result in an internal rate of return for such Capital Member (calculated on a pre-tax basis taking account of the actual timing of Capital Contributions by and distributions to such Capital Member and using the xIRR function on Microsoft Excel) equal to 20%, if such amount were distributed to such Capital Member at such time; provided that there shall not be taken into account in such computation of internal rate of return any portion of a distribution to such Capital Member arising from a material capital event (such as from a refinancing, sale, admission of a new member, liquidation of the Company or other similar event that accelerates a material amount of cash) that is attributable to the value of net tax benefits that would have been available to the Capital Member in the future if such material capital event had not occurred.

Examples of Preferred Return Amount in a sentence

• Notwithstanding the forgoing, no payment of Excess Distributions shall be made to the Manager unless the Members received distributions under Sections 1 of the 6% Preferred Return Amount, for each annual period, while Unreturned Capital Contributions have not yet been reduced to zero.

• Third, provided the entire annual 6% Preferred Return, as set forth in Section 1 above, has been paid for eachannual period in which the amount of Unreturned Capital Contributions have not yet been reduced to zero, to the Manager in payment of the catch up Distributions, to be paid to the Manager, in the amount equal to 40% of the Distributions actually made to the Members to the extent the distributed amount exceeds the 6% Preferred Return Amount (“ Excess Distributions”).

• Third, provided the entire annual 6% Preferred Return, as set forth in Section 1 above, has been paid for each annual period in which the amount of Unreturned Capital Contributions have not yet been reduced to zero, to the Manager in payment of the catch up distributions, to be paid to the Manager, in the amount equal to 40% of Distributions actually made to the Members to the extent the distributed amount exceeds the 6% Preferred Return Amount (“ Excess Distributions”).

• In addition to such Class B Preferred Return Amount, the Company (and indirectly the investors in the Units) will also be entitled to participate in, and receive a portion of, any Participating Distribution Amounts to be distributed by Accend as described below.

• Review of current museums provision across the district and identify any areas where improvement is required.

More Definitions of Preferred Return Amount

Preferred Return Amount as to each Preferred Member, an amount equal to three percent per annum, compounded annually, of such Preferred Member’s Unreturned Capital Contributions (taking into account any increase or decrease in the amount of such Unreturned Capital Contributions as of the date of such increase or decrease and any Distribution under 6.1[a] as of the date of such Distribution), calculated for the period beginning on the Effective Date and ending on the date on which such Preferred Member receives final liquidating Distributions under 12.3[c].

Preferred Return Amount shall have the meaning given to that term in the Company Agreement.

Preferred Return Amount means, with respect to any Distribution Period Calendar Year, the sum of (i) $13,000,000 (provided, that with respect to the first and last Distribution Period Calendar Years, the amount in this clause (i) shall be equal to the product of $13,000,000 and the fraction (expressed as a percentage) in which the numerator is the number of days elapsed in such Distribution Period Calendar Year and the denominator is 365) and (ii) in the event that an Additional Payment (as defined in Section 13.1) is made, from the date on which such Additional Payment is made, an amount equal to the product of 20% multiplied by the amount of such Additional Payment (the “Additional Payment Amount”) (provided, that with respect to the first and last Distribution Period Calendar Years, the amount in this clause (ii) shall be equal to the product of the Additional Payment Amount and the fraction (expressed as a percentage) in which the numerator is the number of days elapsed in such Distribution Period Calendar Year and the denominator is 365).

Preferred Return Amount with respect to any Class A Capital Member at any time of determination means the amount which would result in an internal rate of return for such Class A Capital Member (calculated on a pre-tax basis taking account of the actual timing of Capital Contributions by and distributions to such Class A Capital Member and using the xIRR function on Microsoft Excel) equal to 20%, if such amount were distributed to such Class A Capital Member at such time; provided that there shall not be taken into account in such computation of internal rate of return any portion of a distribution to such Class A Capital Member arising from a material capital event (such as from a refinancing, sale, admission of a new member, liquidation of the Company or other similar event that accelerates a material amount of cash) that is attributable to the value of net tax benefits that would have been available to the Class A Capital Member in the future if such material capital event had not occurred.

Preferred Return Amount means, with regard to the Class B Interest Holders as a group, at any time of determination for a Fiscal Year, the cumulative Quarterly Preferred Return Amounts for all Quarters during such Fiscal Year. The Preferred Return Amount shall not be cumulative from one Fiscal Year to another and as a result thereof, with regard to each Fiscal Year of the Partnership, the Preferred Return Amount for such Fiscal Year shall automatically be zero at the beginning of each Fiscal Year.

Preferred Return Amount means, with respect to the Preferred Return in connection with the Initial Capital Contribution made by the KCS Member, an amount computed at an interest rate equal to the sum of the 10-year U.S. Treasury Bond rate plus 50 basis points, compounded annually, and determined as of the date of the initial Capital Contribution made by the KCS Member (in all other cases determined as of the date the Company grants a Preferred Return to a Member) multiplied by the Preferred Return.

Preferred Return Amount means, with respect to any Limited Partner, an amount of cumulative distributions under Section 4.5(a)(ii) that achieves a thirty percent (30%) internal rate of return on the aggregate Capital Contributions made by such Limited Partner through the particular date of determination, such internal rate of return to be calculated through the date of determination as if each such distribution (taking into account all distributions of any portion of the Preferred Return Amount) and Capital Contribution had been paid or made on the last day of the month during which it was actually paid or made. The Partners acknowledge that internal rate of return calculation methodologies differ and that different internal rate of return calculation methodologies may result in different internal rate of return results. Accordingly, the Partners agree that the internal rate of return methodology to be used for purposes of this definition shall be the methodology that would result in the same amount as if the “IRR” function in Microsoft Excel were used.