Common use of Payment of Preferred Return Clause in Contracts

Payment of Preferred Return. Except as provided in Sections 6 and 9, the Partnership shall not pay the Preferred Return on Series B Preferred Interests in cash, but such Preferred Return shall be paid in additional Series B Preferred Interests in a stated amount equal to the Preferred Return for the semi-annual period. Such Preferred Return shall be paid each June 30 and December 31. The Series B Preferred Interests issued in payment of the Preferred Return shall be entitled to receive a Preferred Return from the date of their issuance. Solely for purposes of determining such Preferred Return, the stated amount of any Series B Preferred Interests previously issued in payment of Preferred Return shall be considered as a Series B Preferred Limited Partner Contribution made at the time such Series B Preferred Interests were issued in payment of Preferred Return.

Appears in 1 contract

Samples: Limited Partnership Agreement (SFG Capital Corp)

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Payment of Preferred Return. Except as provided in Sections 6 and 9, the Partnership shall not pay the Preferred Return on Series B C Preferred Interests in cash, but such Preferred Return shall be paid in additional Series B C Preferred Interests in a stated amount equal to the Preferred Return for the semi-annual period. Such Preferred Return shall be paid each June 30 and December 31. The Series B C Preferred Interests issued in payment of the Preferred Return shall be entitled to receive a Preferred Return from the date of their issuance. Solely for purposes of determining such Preferred Return, the stated amount of any Series B C Preferred Interests previously issued in payment of Preferred Return shall be considered as a Series B C Preferred Limited Partner Contribution made at the time such Series B C Preferred Interests were issued in payment of Preferred Return.

Appears in 1 contract

Samples: Limited Partnership Agreement (SFG Capital Corp)

Payment of Preferred Return. Except as provided in Sections 6 and 9, the Partnership shall not pay the Series A Allocated Preferred Return on Series B A Preferred Interests in cash, but instead such Series A Allocated Preferred Return shall be paid in by the issuance of additional Series B A Preferred Interests in a stated amount equal to the Unpaid Series A Preferred Return for the semi-annual periodReturn. Such Series A Allocated Preferred Return shall be paid as of each June 30 and December 31. The Series B A Preferred Interests issued in payment of the Series A Allocated Preferred Return shall be entitled to receive a Series A Preferred Return from the date of their issuance. Solely for purposes of determining such Series A Preferred Return, the stated amount of any Series B A Preferred Interests previously issued in payment of Series A Allocated Preferred Return shall be considered as a Series B A Preferred Limited Partner Contribution made at the time such Series B A Preferred Interests were issued in payment of Series A Allocated Preferred Return.

Appears in 1 contract

Samples: Limited Partnership Agreement (SFG Capital Corp)

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Payment of Preferred Return. Except as provided in Sections 6 and 9, the Partnership shall not pay the Preferred Return on Series B A Preferred Interests in cash, but such Preferred Return shall be paid in by the issuance of additional Series B A Preferred Interests in a stated amount equal to the Preferred Return for the semi-annual period. Such Preferred Return shall be paid each June 30 and December 31. The Series B A Preferred Interests issued in payment of the Preferred Return shall be entitled to receive a Preferred Return from the date of their issuance. Solely for purposes of determining such Preferred Return, the stated amount of any Series B A Preferred Interests previously issued in payment of Preferred Return shall be considered as a Series B A Preferred Limited Partner Contribution made at the time such Series B A Preferred Interests were issued in payment of Preferred Return.

Appears in 1 contract

Samples: Limited Partnership Agreement (SFG Capital Corp)

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