Common use of Special Distribution Rate; Distribution Stopper Clause in Contracts

Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the REIT Series A Preferred Shares is increased in accordance with the Series A Preferred Shares Terms, the Series A Priority Return shall be increased to 7.50% per annum on the stated value of $1,000.00 per Series A Preferred Unit (equivalent to the fixed annual amount of $75.00 per Series A Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series A Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series A Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series A Preferred Units.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Parking REIT, Inc.), Agreement of Limited Partnership (Parking REIT, Inc.), Limited Partnership Agreement (Mobile Infrastructure Corp)

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Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the REIT Series A 1 Preferred Shares is increased in accordance with the Series A 1 Preferred Shares Terms, the Series A 1 Priority Return shall be increased to 7.507.00% per annum on the stated value of $1,000.00 per Series A 1 Preferred Unit (equivalent to the fixed annual amount of $75.00 70.00 per Series A 1 Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series A 1 Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series A 1 Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series A 1 Preferred Units.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp), Agreement and Plan of Merger (Mobile Infrastructure Corp), Merger Agreement (Mobile Infrastructure Corp)

Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the REIT Series A 1 Preferred Shares is increased in accordance with the Series A 1 Preferred Shares Terms, the Series A 1 Priority Return shall be increased to 7.507.00% per annum on the stated value of $1,000.00 per Series A 1 Preferred Unit (equivalent to the fixed annual amount of $75.00 70.00 per Series A 1 Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series A 1 Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series A 1 Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series A 1 Preferred Units.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Parking REIT, Inc.), Agreement of Limited Partnership (Parking REIT, Inc.), Limited Partnership Agreement (Mobile Infrastructure Corp)

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Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the REIT Series A Preferred Shares is increased in accordance with the Series A Preferred Shares Terms, the Series A Priority Return shall be increased to 7.50% per annum on the stated value of $1,000.00 per Series A Preferred Unit (equivalent to the fixed annual amount of $75.00 per Series A Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series A Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series A Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series A Preferred Units.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp), Agreement and Plan of Merger (Mobile Infrastructure Corp), Merger Agreement (Mobile Infrastructure Corp)

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