Preferred Units Interest. The Preferred Units shall accrete a preferred return at a rate of 10% per annum (based on a 360-day cycle), compounded quarterly; provided that the Board may determine to pay such accreting preferred return as a cash dividend. Liquidation Preference: 95% of Parent Equity plus the accreted but unpaid preferred return.
Appears in 6 contracts
Samples: LNR Property Corp, LNR Property Corp, LNR Property Corp