Preferred Distribution Clause Samples
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Preferred Distribution. Without limitation of Section 4.2(a), by not later than five (5) years following the Closing Date, CF LLC shall distribute (the “Preferred Distribution”) one hundred percent (100%) of the Preferred Investment Assets to the Members in accordance with Section 4.1.2, to the extent of Available Assets. Promptly following the payment in full of the Preferred Distribution, CF LLC shall commence liquidation and winding up in accordance with Section 10.2(g).
Preferred Distribution. 12.0% per annum, compounded monthly, consisting of 5.0% current pay in cash and 7.0% “PIK” rate (subject to the step up below).
a. The PIK rate will accrue and will be paid in cash upon conversion, redemption, liquidation or dissolution.
b. Years 2 - 5: The Preferred Distribution will increase by 1.0% (added to the PIK rate) on each of the first four anniversaries of the date of issuance.
c. On the 5th anniversary of the date of issuance and each anniversary thereafter until the Preferred Units are redeemed or converted, the Preferred Distribution will increase by 3.0% on each such anniversary and the Preferred Distribution will be paid in cash (no PIK).
Preferred Distribution. The Partners do hereby agree that for the two (2) years commencing February 1, 2002 through January 1, 2004, that the Partnership will pay to Trust a minimum of $75,000 per year, which shall be paid at the rate of $6250 per month commencing the month ending February 28, 2002, and continuing on the 28th day of each month thereafter for 23 months. The Partnership shall place in escrow with attorney Merrill A. Bookstein the amount of $75,000 which will represent the ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇ ▇aid interest payments. Once the Trust is paid its initial investment plus 10% per annum or prorata portion at that time, any further obligations to pay interest cease. Any monies remaining in escrow at that time will be released to the Partnership.
Preferred Distribution. The declaration or payment of any dividend or distribution of cash or cash equivalents to the holders of preferred shares of beneficial interest in the Company or the holders of preferred units of limited partnership interest of the Borrower.
Preferred Distribution. The declaration or payment of any dividend or distribution of cash or cash equivalents to the holders of preferred shares of beneficial interest in the Company or the holders of preferred units of limited partnership interest of the Borrower. PREPAYMENT DATE. See Section 3.3.