Common use of Payment of Distributions Clause in Contracts

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 28, 2013, and, (ii), in the event of a redemption of Series G Preferred Units, on the redemption date (each a “Series G Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 11 contracts

Samples: Limited Partnership Agreement (Digital Realty Trust, L.P.), Agreement of Limited Partnership (Digital Realty Trust, L.P.), Agreement of Limited Partnership (Digital Realty Trust, L.P.)

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Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G C Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G C Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 28, 2013, and, (ii), in the event first of a redemption such dates to occur after the original date of Series G Preferred Units, on the redemption date issuance (each a “Series G C Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 7 contracts

Samples: Limited Partnership Agreement (Digital Realty Trust, L.P.), Agreement of Limited Partnership (Digital Realty Trust, L.P.), Revolving Credit Agreement (Digital Realty Trust, L.P.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G F Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G F Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 2830, 20132012, and, (ii), in the event of a redemption of Series G F Preferred Units, on the redemption date (each a “Series G F Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G F Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 6 contracts

Samples: Limited Partnership Agreement (Digital Realty Trust, L.P.), Limited Partnership Agreement (Digital Realty Trust, L.P.), Limited Partnership Agreement (Digital Realty Trust, L.P.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G E Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G E Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 28December 30, 20132011, and, (ii), in the event of a redemption of Series G E Preferred Units, on the redemption date (each a “Series G E Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Digital Realty Trust, L.P.), Limited Partnership Agreement (Digital Realty Trust, L.P.), Agreement of Limited Partnership (Digital Realty Trust, L.P.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G D Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G D Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 28, 2013, and, (ii), in the event first of a redemption such dates to occur after the original date of Series G Preferred Units, on the redemption date issuance (each a “Series G D Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Digital Realty Trust, L.P.), Agreement of Limited Partnership (Digital Realty Trust, L.P.), Revolving Credit Agreement (Digital Realty Trust, L.P.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G E Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G E Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 20132016, and, (ii), ) in the event of a redemption of Series G E Preferred Units, on the redemption date (each a “Series G E Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G Priority Return. Such distributions Distributions shall be cumulativeaccrue daily, shall accrue and be cumulative from the original date of issuance and including March 27, 2012 and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrearsarrears on February 15, on the last calendar day of MarchMay 15, June, September August 15 and December, November 15 of each year year, commencing on June 28May 15, 20132012, and, and (ii), ) in the event of a redemption of Series G Preferred Units, on the redemption date (each a “Series G Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if ). The distributions payable on any Series G Preferred Unit Distribution Payment Date shall include distributions accrued to but excluding such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such dateSeries G Preferred Unit Distribution Payment Date.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Kilroy Realty, L.P.), Agreement of Limited Partnership (Kilroy Realty, L.P.), Agreement of Limited Partnership (Kilroy Realty, L.P.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G F Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G F Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 20132016, and, (ii), ) in the event of a redemption of Series G F Preferred Units, on the redemption date (each a “Series G F Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G F Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G H Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G H Priority Return. Such distributions Distributions shall be cumulativeaccrue daily, shall accrue and be cumulative from the original date of issuance and including August 15, 2012 and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrearsarrears on February 15, on the last calendar day of MarchMay 15, June, September August 15 and December, November 15 of each year year, commencing on June 28November 15, 20132012, and, and (ii), ) in the event of a redemption of Series G H Preferred Units, on the redemption date (each a “Series G H Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if ). The distributions payable on any Series H Preferred Unit Distribution Payment Date shall include distributions accrued to but excluding such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such dateSeries H Preferred Unit Distribution Payment Date.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Kilroy Realty, L.P.), Agreement of Limited Partnership (Kilroy Realty, L.P.)

Payment of Distributions. Subject to the rights of Holders holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.15.1 hereof, the General Partner, as holder holders of the Series G C Preferred Units, Units will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G C Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (iA) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on the last calendar 15th day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28, 2013, and, and (ii), B) in the event of (i) an exchange of Series C Preferred Units into Series C Preferred Shares, or (ii) a redemption of Series G C Preferred Units, on the exchange date or redemption date date, as applicable (each a "Series G C Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. If any date on which distributions are to be made on the Series G C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.preceding

Appears in 2 contracts

Samples: Limited Partnership Agreement (Amb Property Corp), Limited Partnership Agreement (Amb Property Lp)

Payment of Distributions. Subject to the preferential rights of Holders holders of Parity Preferred any class or series of OP Units as of the Partnership ranking senior to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G C Preferred Units, the holders of Series C Preferred Units will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cashthe Partnership’s available cash, cumulative preferential cash distributions in an amount equal to the Series G C Priority Return. Such All distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarterssentence) in arrearsarrears on March 31, on the last calendar day of March, JuneJune 30, September 30 and December, December 31 of each year commencing on June 28, 2013, and, (ii), in the event of a redemption of Series G Preferred Units, on the redemption date (each a “Series G C Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made Any distribution payable on the Series G C Preferred Units for a period that is shorter or longer than 90 days will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any Series C Preferred Unit Distribution Payment Date is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if ). The distributions payable on any Series C Preferred Unit Distribution Payment Date shall include distributions accrued to but not including such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such dateSeries C Preferred Unit Distribution Payment Date.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Sun Communities Inc), Amendment to Limited Partnership Agreement (Sun Communities Inc)

Payment of Distributions. Subject to the rights of Holders holders of Parity Preferred Units as to the payment of distributions, distributions (including pursuant to Section Sections 5.1, the General Partner16.3.A and 17.3A hereof), as holder holders of the Series G E Preferred Units, Units will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G E Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (iA) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar year quarters) in arrears, on the last calendar 15th day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28, 2013, and, and (ii), B) in the event of (i) an exchange of Series E Preferred Units into Series E Preferred Shares, or (ii) a redemption of Series G E Preferred Units, on the exchange date or redemption date date, as applicable (each a "Series G E Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. If any date on which distributions are to be made on the Series G E Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.made

Appears in 2 contracts

Samples: Agreement of Limited Partnership (Amb Property Corp), Agreement of Limited Partnership (Amb Property Lp)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G D Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G D Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 20132011, and, (ii), ) in the event of a redemption of Series G D Preferred Units, on the redemption date (each a “Series G D Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G D Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.15.1 hereof, the General Partner, as holder of the Series G A Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (iA) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar 15th day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28, 2013, and, and (ii), B) in the event of a redemption of Series G A Preferred Units, on the redemption date (each a “Series G "Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. If any date on which distributions are to be made on the Series G A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Amb Property Corp), Limited Partnership Agreement (Amb Property Lp)

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Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly semiannually (such quarterly semiannual periods for purposes of payment and accrual will be the quarterly semiannual periods ending on the dates specified in this sentence and not calendar quarterssemiannual periods) in arrears, on the last 15th calendar day of March, June, September January and December, July of each year commencing on June 28July 15, 20132021, and, (ii), ) in the event of a redemption of Series G Preferred Units, on the redemption date (each a “Series G Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.), Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.15.1 hereof, the General Partner, as holder of the Series G A Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (iA) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar ___ day of March, June, September and December, December of each year commencing on June 28, 2013, and, and (ii), B) in the event of a redemption of Series G A Preferred Units, on the redemption date (each a “Series G "Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance. If any date on which distributions are to be made on the Series G A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Partnership Agreement (Amb Property Corp)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G H Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G H Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 20132021, and, (ii), ) in the event of a redemption of Series G H Preferred Units, on the redemption date (each a “Series G H Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G H Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General Partner, as holder of the Series G C Preferred Units, will be entitled to receive, when, as and if declared by the Partnership acting through the General Partner, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G C Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of March, June, September and December, of each year commencing on June 28[•], 20132017, and, (ii), in the event of a redemption of Series G C Preferred Units, on the redemption date (each a “Series G C Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G C Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made made, at the General Partner’s option, on either the immediately preceding business day or next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Merger Agreement (Dupont Fabros Technology, Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G I Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G I Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28October 15, 20132021, and, (ii), ) in the event of a redemption of Series G I Preferred Units, on the redemption date (each a “Series G I Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G I Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G A Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G A Priority ReturnReturn plus any amounts then outstanding in respect of the MPG Preferred Accrual. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last calendar day of MarchJanuary, JuneApril, September July and DecemberOctober, of each year commencing on June 28the first of such dates to occur after the original date of issuance, 2013, and, and (ii), ) in the event of a redemption of Series G A Preferred Units, on the redemption date (each a “Series G A Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G A Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G A Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 2013, 2005 and, (ii), ) in the event of a redemption of Series G A Preferred Units, on the redemption date (each a “Series G A Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

Payment of Distributions. Subject to the rights of Holders of Parity Preferred Units as to the payment of distributions, pursuant to Section 5.1, the General PartnerManaging Member, as holder of the Series G A Preferred Units, will be entitled to receive, when, as and if declared by the Partnership Company acting through the General PartnerManaging Member, out of Available Cash, cumulative preferential cash distributions in an amount equal to the Series G A Priority Return. Such distributions shall be cumulative, shall accrue from the original date of issuance and will be payable (i) quarterly (such quarterly periods for purposes of payment and accrual will be the quarterly periods ending on the dates specified in this sentence and not calendar quarters) in arrears, on the last 15th calendar day of MarchJanuary, JuneApril, September July and December, October of each year commencing on June 28July 15, 20132005, and, (ii), in the event of a redemption of Series G A Preferred Units, on the redemption date (each a “Series G A Preferred Unit Distribution Payment Date”). If any date on which distributions are to be made on the Series G A Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunstone Hotel Investors, Inc.)

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