Common use of Late Distributions Clause in Contracts

Late Distributions. (i) If the Company fails to make any distribution required to be made pursuant to Section 4.1(a)(i) on or before the applicable Guaranteed Payment Date, then the Guaranteed Payment Amount payable with respect to that Guaranteed Payment Date shall be increased at a rate per year equal to the Preferred A Rate for the number of days from the applicable Guaranteed Payment Date to the date on which the required distribution is actually made.