Annual Distribution Rate definition
Examples of Annual Distribution Rate in a sentence
In the event the outstanding Preferred Units or a series of Preferred Units shall be subdivided (by stock split, by payment of a stock dividend or otherwise), into a greater number of Preferred Units, the Annual Distribution Rate, Original Issue Price and Liquidation Preference of the affected series of Preferred Units in effect immediately prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately decreased.
In the event the outstanding Preferred Units or a series of Preferred Units shall be combined (by reclassification or otherwise) into a lesser number of Preferred Units, the Annual Distribution Rate, Original Issue Price and Liquidation Preference of the affected series of Preferred Units in effect immediately prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately increased.
The amount of Series A Distributions payable on each Series A Preferred Unit for each full Distribution Period shall be computed by multiplying the Series A Liquidation Preference by one-half of the Annual Distribution Rate.
After giving effect to the special allocations set forth in Section 6.3(c) but before giving effect to the allocations set forth in Section 6.2(a), Net Operating Income shall be allocated to the Company until the aggregate amount of Net Operating Income allocated to the Company under this Section 6.2(c) for the current and all prior years equals the aggregate amount of the Series SN Annual Distribution Rate paid to the Company for the current and all prior years.
The amount of distribution per Series D Company Preferred Unit accruing in each full Distribution Period shall be computed by dividing the Series D Annual Distribution Rate by four.
With respect to any Distribution Period following, and during the continuance of, a failure on the part of the Partnership to redeem any Series G-4 Preferred Unit called for redemption pursuant to Section 2D hereof or noticed or tendered for redemption pursuant to Section 2E hereof, the Annual Distribution Rate with respect to all Series G-4 Preferred Units shall be an amount equal to the rate per annum of $1.750 per Series G-4 Preferred Unit.
The amount of distribution per Series B Company Preferred Unit accruing in each full Distribution Period shall be computed by dividing the Series B Annual Distribution Rate by four.
With respect to any Distribution Period following, and during the continuance of, a failure on the part of the Partnership to redeem any Series G-2 Preferred Unit called for redemption pursuant to Section 2D hereof or noticed or tendered for redemption pursuant to Section 2E hereof, the Annual Distribution Rate with respect to all Series G-2 Preferred Units shall be an amount equal to the rate per annum of $1.750 per Series G-2 Preferred Unit.
Such distributions with respect to each Series U1 Unit shall accrue each day at the applicable Annual Distribution Rate and be cumulative from the date of issuance of such Series U1 Unit (the “Effective Date”) whether or not in any Distribution Period or Periods such distributions have been declared and whether or not there shall be assets of the Partnership legally available for the payment of such distributions.
The amount of distribution per Series E Company Preferred Unit accruing in each full Distribution Period shall be computed by dividing the Series E Annual Distribution Rate by four.