Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the Series 1 Preferred Shares is increased in accordance with the Series 1 Preferred Shares Terms, the Series 1 Priority Return shall be increased to 7.00% per annum on the stated value of $1,000.00 per Series 1 Preferred Unit (equivalent to the fixed annual amount of $70.00 per Series 1 Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the Series 1 Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series 1 Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series 1 Preferred Units.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp), Limited Liability Company Agreement (Mobile Infrastructure Corp), Support 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 1 Preferred Shares is increased in accordance with the Series 1 Preferred Shares Terms, the Series 1 Priority Return shall be increased to 7.00% per annum on the stated value of $1,000.00 per Series 1 Preferred Unit (equivalent to the fixed annual amount of $70.00 per Series 1 Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series 1 Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series 1 Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series 1 Preferred Units.
Appears in 3 contracts
Samples: Agreement (Parking REIT, Inc.), Agreement (Mobile Infrastructure Corp), Parking REIT, Inc.
Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the REIT Series 1 A Preferred Shares is increased in accordance with the Series 1 A Preferred Shares Terms, the Series 1 A Priority Return shall be increased to 7.007.50% per annum on the stated value of $1,000.00 per Series 1 A Preferred Unit (equivalent to the fixed annual amount of $70.00 75.00 per Series 1 A Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the REIT Series 1 A Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series 1 A Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series 1 A Preferred Units.
Appears in 3 contracts
Samples: Agreement (Parking REIT, Inc.), Agreement (Mobile Infrastructure Corp), Parking REIT, Inc.
Special Distribution Rate; Distribution Stopper. If, at any time, and for such period of time as, the dividend rate payable on the Series 1 A Preferred Shares is increased in accordance with the Series 1 A Preferred Shares Terms, the Series 1 A Priority Return shall be increased to 7.007.50% per annum on the stated value of $1,000.00 per Series 1 A Preferred Unit (equivalent to the fixed annual amount of $70.00 75.00 per Series 1 A Preferred Unit). If, at any time, and for such period of time as, the current payment of dividends on the Series 1 A Preferred Shares is suspended and such suspended amounts are accumulating, in accordance with the Series 1 A Preferred Shares Terms, then a commensurate suspension of distributions and accumulation shall occur on the Series 1 A Preferred Units.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Mobile Infrastructure Corp), Limited Liability Company Agreement (Mobile Infrastructure Corp), Support Agreement (Mobile Infrastructure Corp)