Distributions When Class B Units Are Outstanding Sample Clauses

Distributions When Class B Units Are Outstanding. If for any quarter or shorter period with respect to which a distribution is to be made (a “Distribution Period”) Class B Units are outstanding on the Partnership Record Date for such Distribution Period, the General Partner shall allocate the Available Cash with respect to such Distribution Period available for distribution with respect to the Class A Units and Class B Units collectively between the Partners who are holders of Class A Units (“Class A”) and the Partners who are holders of Class B Units (“Class B”) as follows:
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Distributions When Class B Units Are Outstanding. Holders of Class B Units shall receive quarterly distributions for each calendar quarter (or portion thereof) in an aggregate amount equal to 25% of the amount, if any, by which (i) the sum of Funds From Operations plus any gains (or losses) from debt restructuring or property sales exceeds (ii) the product of the Partnership’s weighted average Stockholders Equity multiplied by 2.375% (such percentage to be prorated for any partial quarter). These distributions shall be paid to Holders of Class B Units within 45 days after the end of each quarter. These distributions shall be recalculated at the end of each calendar year beginning with 2004, as 25% of the amount by which (A) annual Funds From Operations plus any gains (or losses) from debt restructuring and gains (or losses) or property sales for such calendar year (or part thereof) exceeds (B) the Partnership’s weighted average Stockholders Equity for such year multiplied by 9.5% (such percentage to be prorated for any partial year). To the extent quarterly distributions exceed the annual recalculated amount, the Holders of Class B Units shall refund the excess to the Partnership, and to the extent the annual recalculated amount exceeds the quarterly distributions made for such year, such excess shall be paid by the Partnership to such Holders within 90 days after the end of such calendar year. Distributions (and any refunds of distributions) made pursuant to this Section 5.01.C shall be apportioned, subject to Section 5.01.D, among the holders of Class B Units pro rata in accordance with their Class B Distribution Percentages, determined as of the date of such distribution (or, in the case of any refund, as of the date of the distribution(s) with respect to which such refund is attributable).
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Distributions When Class B Units Are Outstanding. Holders of Class B Units shall receive quarterly distributions for each calendar quarter (or portion thereof) in an aggregate amount equal to (i) 25% of the amount, if any, by which (a) Adjusted Pre-Tax Net Income Per Share for such quarter exceeds (b) an amount equal to (A) the weighted average of the offering price per Share sold in the Initial Private Offering and issued in the Contribution Transaction, the offering prices per Share in any subsequent offerings and the agreed upon value of Partnership Units issued in connection with an acquisition multiplied by (B) the greater of (1) 2.25% and (2) 0.75% plus one fourth of the 10-Year U.S. Treasury Rate for such quarter multiplied by (ii) the fully-diluted weighted average number of Shares outstanding during such quarter. For realized gains or losses, the amount of gain or loss shall be based on unadjusted book value. The distributions will be reconciled in the last quarter of each fiscal year (or part thereof) to adjust for any aggregate overpayments or underpayments (prorated for any partial fiscal year) made to the holders of the Class B Units under the formula as if the calculations had been made for the operations of the entire fiscal year (or part therof). These distributions shall be paid to Holders of Class B Units within 45 days after the end of each quarter. These distributions shall be recalculated at the end of each fiscal year beginning with the fiscal year ending in 2006. To the extent quarterly distributions exceed the annual recalculated amount, the Holders of Class B Units shall refund the excess to the Partnership, and to the extent the annual recalculated amount exceeds the quarterly distributions made for such year, such excess shall be paid by the Partnership to such Holders within 90 days after the end of such calendar year.
Sample 1
Distributions When Class B Units Are Outstanding. Holders of Class B Units shall receive quarterly distributions for each calendar quarter (or portion thereof) in an aggregate amount equal to 25% of the amount, if any, by which (i) the sum of Funds from Operations plus any gains (or losses) from debt restructuring or property sales exceeds (ii) the product of the Partnership's weighted average Stockholders Equity multiplied by 2.375% (such percentage to be prorated for any partial quarter). These distributions shall be paid to Holders of Class B Units within 45 days after the end of each quarter. These distributions shall be recalculated at the end of each calendar year beginning with 2004, as 25% of the amount by which (A) annual Fund from Operations plus any gains (or losses) from debt restructuring and gains (or losses) or property sales for such calendar year (or part thereof) exceeds (B) the Partnership's weighted average Stockholders Equity for such year multiplied by 9.5% (such percentage to be prorated for any partial year). To the extent quarterly distributions exceed the annual recalculated amount, the Holders of Class B Units shall refund the excess to the Partnership, and to the extent the annual recalculated amount exceeds the quarterly distributions made for such year, such excess shall be paid by the Partnership to such Holders within 90 days after the end of such calendar year.
Sample 1
Distributions When Class B Units Are Outstanding. If for any quarter or shorter period with respect to which a distribution is to be made (a “Distribution Period”) Class B Units are outstanding on the Partnership Record Date for such Distribution Period, the General Partner shall allocate the Available Cash with respect to such Distribution Period available for distribution with respect to the Class A Units and Class B Units collectively between the Partners who are holders of Class A Units (“Class A”) and the Partners who are holders of Class B Units (“Class B”), pro rata, in accordance with the Percentage Interests (determined in the aggregate) as of the applicable Record Date.
Sample 1
Distributions When Class B Units Are Outstanding. If, for any quarter or shorter period with respect to which a distribution is to be made with respect to Class A Units and Class B Units (a "Distribution Period"), Class B Units are outstanding on the Partnership Record Date for such Distribution Period, the General Partner shall allocate the Available Cash with respect to such Distribution Period available for distribution with respect to the Class A Units and Class B Units collectively between the Partners who are holders of Class A Units ("Class A") and the Partners who are holders of Class B Units ("Class B") as follows: (1) Class A shall receive that portion of the Available Cash (the "Class A Share") determined by multiplying the amount of Available Cash by the following fraction: A x Y ,___________ (A x Y)+(B x X) (2) Class B shall receive that portion of the Available Cash (the "Class B Share") determined by multiplying the amount of Available Cash by the following fraction: B x X ____________ (A x Y)+(B x X) (3) For purposes of the foregoing formulas, (i) "A" equals the number of Class A Units outstanding on the Partnership Record Date for such Distribution Period; (ii) "B" equals the number of Class B Units outstanding on the Partnership Record Date for such Distribution Period; (iii) "Y" equals the number of days in the Distribution Period; and (iv) "X" equals the number of days in the Distribution Period for which the Class B Units were issued and outstanding. The Class A Share shall be distributed pro rata among Partners holding Class A Units on the Partnership Record Date for the Distribution Period in accordance with the number of Class A Units held by each Partner on such Partnership Record Date; provided that, in no event may a Partner receive a distribution of Available Cash with respect to a Class A Unit if a Partner is entitled to receive a distribution with respect to a Share for which such Class A Unit has been redeemed or exchanged. The Class B Share shall be distributed pro rata among the Partners holding Class B Units on the Partnership Record Date for the Distribution Period in accordance with the number of Class B Units held by each Partner on such Partnership Record Date. In no event shall any Class B Units be entitled to receive any distribution of Available Cash for any Distribution Period ending prior to the date on which such Class B Units are issued. D. Distributions When Class B Units Have Been Issued on Different Dates. If Class B Units which have been issued on different...
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Related to Distributions When Class B Units Are Outstanding

  • Net Asset Value, Distributions, and Redemptions Section 1. Determination of Net Asset Value, Net Income, and Distributions. Subject to Article III, Section 6 hereof, the Trustees, in their absolute discretion, may prescribe and shall set forth in the By-laws or in a duly adopted resolution of the Trustees such bases and time for determining the per Share net asset value of the Shares of any Series and the declaration and payment of dividends and distributions on the Shares of any Series, as they may deem necessary or desirable.

  • Stock Dividends, Distributions, Etc If, while this Pledge Agreement is in effect, Pledgor becomes entitled to receive or receives any securities or other property in addition to, in substitution of, or in exchange for any of the Pledged Shares (whether as a distribution in connection with any recapitalization, reorganization or reclassification, a stock dividend or otherwise), Pledgor shall accept such securities or other property on behalf of and for the benefit of the Company as additional security for Pledgor's obligations under the Note and shall promptly deliver such additional security to the Company together with duly executed forms of assignment, and such additional security shall be deemed to be part of the Pledged Shares hereunder.

  • Distributions and Redemptions Maker shall not declare or pay any dividends or make any distributions of cash, property or securities of Maker with respect to any shares of its common stock, preferred stock or any other class or series of its stock, or, directly or indirectly (except for repurchases of common stock by Maker in accordance with the terms of employee benefit plans or written agreement between Maker and any of its employees approved by the Board of Directors of Maker prior to February 1, 2004), redeem, purchase, or otherwise acquire for any consideration any shares of its common stock or any other class of its stock.

  • Dividends, Distributions and Redemptions To enable each Fund to pay dividends or other distributions to shareholders of each such Fund and to make payment to shareholders who have requested repurchase or redemption of their shares of each such Fund (collectively, the "Shares"), the Custodian shall release cash or Securities insofar as available. In the case of cash, the Custodian shall, upon the receipt of Instructions, transfer such funds by check or wire transfer to any account at any bank or trust company designated by each such Fund in such Instructions. In the case of Securities, the Custodian shall, upon the receipt of Special Instructions, make such transfer to any entity or account designated by each such Fund in such Special Instructions.

  • Dividends, Distributions, Redemptions, and Repurchases Notwithstanding any other provisions of this Declaration of Trust, including, without limitation, Article VI, no dividend or distribution including, without limitation, any distribution paid upon dissolution of the Trust or of any Series with respect to, nor any redemption or repurchase of, the Shares of any Series or class shall be effected by the Trust other than from the assets held with respect to such Series, nor, except as specifically provided in Section 7 of this Article III, shall any Shareholder of any particular Series otherwise have any right or claim against the assets held with respect to any other Series or the Trust generally except to the extent that such Shareholder has such a right or claim hereunder as a Shareholder of such other Series. The Board of Trustees shall have full discretion, to the extent not inconsistent with the 1940 Act, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • Distributions, Etc Upon the dissolution, winding up, liquidation or reorganization of the Tenant, whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Tenant, if any sum shall be paid or any property shall be distributed upon or with respect to any of the Pledged Collateral, such sum shall be paid over to the Secured Parties, to be held as collateral security for the Secured Obligations. If any dividend shall be declared on any of the Pledged Collateral (excluding cash dividends), or any share of beneficial interest or fraction thereof shall be issued pursuant to any split of beneficial interests involving any of the Pledged Collateral, or any distribution of capital shall be made on any of the Pledged Collateral, or any property shall be distributed upon or with respect to the Pledged Collateral pursuant to recapitalization or reclassification of the capital of the Tenant, the shares or other property so distributed shall be delivered to the Secured Parties to be held as collateral security for the Secured Obligations.

  • Class B Units The term “Class B Units” means the Units having the privileges, preferences, and rights specified with respect to “Class B Units” in this Agreement, including those described in Section 7.1(c)(3).

  • Distributions; Investments Directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so. Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock.

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