Common use of Remaining Distribution Clause in Contracts

Remaining Distribution. The remaining assets shall then be distributed first, to the holders of the Preferred Partnership Units as provided in the exhibit hereto setting forth the terms of such Preferred Partnership Units, and second, to the holders of the Common Partnership Units in accordance with their positive Capital Account balances, determined after taking into account all Capital Account adjustments for all prior periods and the Partnership taxable year during which the liquidation occurs.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (Ashford Hospitality Trust Inc), Limited Partnership Agreement (Ashford Hospitality Trust Inc)

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Remaining Distribution. The After the application of Section 10.3, the remaining assets shall then be distributed first, to the holders of the Preferred Partnership Units Units, if any, as provided in the exhibit hereto applicable exhibit, if any, to this Agreement setting forth the terms of such Preferred Partnership Units, and second, to the holders of the Common Partnership Units in accordance with their positive Capital Account balances, determined after taking into account all Capital Account adjustments for all prior periods and the Partnership Company taxable year during which the liquidation occurs.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Ashford Inc), Limited Liability Company Agreement (Ashford Hospitality Trust Inc)

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Remaining Distribution. The After the application of Section 10.3, the remaining assets shall then be distributed first, to the holders of the Preferred Partnership Units as provided in the exhibit hereto setting forth the terms of such Preferred Partnership Units, and second, to the holders of the Common Partnership Units in accordance with their positive Capital Account balances, determined after taking into account all Capital Account adjustments for all prior periods and the Partnership taxable year during which the liquidation occurs.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (Ashford Hospitality Trust Inc), Agreement of Limited Partnership (Ashford Hospitality Trust Inc)

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