Distribution Payments. Any Distribution payment made on Preferred Units shall first be credited against the earliest accumulated but unpaid Distribution due with respect to such Preferred Units which remains payable.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Strategic Student & Senior Housing Trust, Inc.), Limited Partnership Agreement (Strategic Student & Senior Housing Trust, Inc.)
Distribution Payments. Any Distribution payment made on Preferred Units shall first be credited against the earliest accumulated but unpaid Current Distribution due with respect to such Preferred Units which remains payable.
Appears in 2 contracts
Samples: Strategic Storage Trust II, Inc., Strategic Storage Growth Trust, Inc.
Distribution Payments. Any Distribution payment made on Preferred Units shall first be credited against the earliest accumulated but unpaid Distribution due with respect to such Preferred Units which remains payable. The Distributions will be treated as guaranteed payments for the use of capital under Section 707 of the Code as such Distributions accrue pursuant to Section 3(a).
Appears in 1 contract
Samples: Strategic Storage Trust VI, Inc.
