Class B Preferred Return definition

Class B Preferred Return means a priority distribution of distributable cash flow and profit to Class B Units equal to 9% per annum of such Class B Unit Holder’s Capital Account Balance. The Class B Preferred Return shall be cumulative to the extent not paid, and shall not be compounded. In liquidation preference, Class B Preferred Return is senior to the payment of accrued and unpaid Class A Preferred Return.

Class B Preferred Return means, with respect to each Class B Preferred Unit, an amount accruing with respect to such Class B Preferred Unit at the rate of six percent (6.0%) per year on the Unreturned Class B Preferred Capital of such Class B Preferred Unit.

Class B Preferred Return means, for any Class B Member and as of any date, the amount, if any that would be required to be distributed on such date so that the aggregate distributions to such Member provide a cumulative, non-compounded return equal to eight percent (8%) percent per annum for Class B Members of such Member’s Invested Capital Contribution. The Preferred Return will begin to accrue thirty (30) days after the date the Initial

Examples of Class B Preferred Return in a sentence

• If on such date any portion of the Class B Preferred Return is accrued but unpaid, the Partnership shall pay such amount to the Class B Limited Partners in the form of cash, a demand promissory note having an initial principal balance equal to such amount and bearing an annual interest rate of 10.5%, or Common Partnership Units having a value equal to such amount, at the election of each Class B Limited Partner.

• Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount.

• For the avoidance of doubt, it is the intention of the parties that the aggregate opening Capital Accounts of the Class B Unitholders shall equal the aggregate Class B Preferred Return Base Amount.

• Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

• In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount.

More Definitions of Class B Preferred Return

Class B Preferred Return means, with respect to any Partner, for any Fiscal Year (or portion thereof), a return equal to the Xxxxx Fargo Bank Rate for such Fiscal Year (or portion thereof) calculated on the Class B Amount as of the first day of such Fiscal Year; provided, however, that the Class B Preferred Returns for all periods ending prior to October 31, 2002 shall be deemed to be zero as such Class B Preferred Returns are taken into account in the Restated Class B Amount.

Class B Preferred Return means an amount equal to twelve ------------------------ percent (12%) per annum on an amount equal to the sum of Mobil's Unrecovered Capital on the Class B Preferred Interests and the accrued Class B Preferred Return for the actual number of days for which the Class B Preferred Return is being determined, cumulative and compounded semi-annually. The Class B Preferred Return will not be payable in cash until the earlier of the Class B Conversion Date or the Class B Redemption Date, at which time the accrued but unpaid Class B Preferred Return shall be paid in cash subject only to the Partnership's Available Cash and to the restrictions set forth in Section 5.5. The amount of any accrued but unpaid Class B Preferred Return shall continue to accrue at the Class B Preferred Return rate until paid in cash.

Class B Preferred Return means a cumulative, non-compounded preferred return of 9% per annum on the Unreturned Capital Contributions of a Class B Member, determined on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days occurring in the period for which the Class B Preferred Return is being determined, cumulative to the extent not distributed in any period pursuant to Section 6.2(a)(iii) or Section 6.2(b)(v) of the average daily balance of the Unreturned Capital Contributions of a Class B Member, from time to time, during the period to which the Class B Preferred Return relates, commencing on the later of (i) the day on which the Class B Member first makes a Capital Contribution; and (ii) the date of this Agreement.

Class B Preferred Return means, with respect to any series of Class B OP Units, an annual subordinated return on the Class B Unreturned Capital Contributions with respect to the Facilities Portfolio corresponding to such series as determined by the General Partner at the time of the contribution, which, as of the date of this Agreement, is, calculated at a rate of 6% per annum, compounded quarterly. With respect to each Facilities Portfolio, the Class B Preferred Return will be calculated at the same rate as the Class A Preferred Return. The Class B Preferred Return shall be non-cumulative from period to period, except if Facilities Portfolio Available Revenues with respect to the Facilities Portfolio corresponding to such series of Class B OP Units is sufficient, in the judgment of the General Partner (acting by its board of trustees, including with the approval of a majority of its independent trustees), to fund distributions to the Holders of such series of Class B OP Units under Section 5.1(a)(i)(B) or Section 5.1(a)(ii)(C) or (D), but the General Partner does not make distributions to such holders of Class B OP Units, the amount available, in the judgment of the General Partner, but not paid as distributions, shall be added to the Class B Capital Contributions corresponding to such series of Class B OP Units.

Class B Preferred Return means, on each Partnership Record Date during each of the ten years following the date of this Agreement, the greater of (i) an annualized amount equal to $1.10 per Preferred Partnership Unit or (ii) the lesser of (A) the annualized amount per Common Partnership Unit paid to the holders of the Common Partnership Units on that Partnership Record Date, plus an annualized amount equal to $0.10 per Common Partnership Unit, or (B) an annualized amount equal to $1.155 per Preferred Partnership Unit. The Class B Preferred Return shall be cumulative and shall be prorated for any partial calendar year.

Class B Preferred Return. Class B Preferred Return" shall have the meaning set forth in Section 3.3(c).

Class B Preferred Return means a return equal to six (6%) percent of the Class B Capital Contribution (less any distributions made in respect of such Class B Capital Contribution) per annum, which shall be cumulative from year to year, from the date hereof, or the date of any subsequent Class B Capital Contribution in exchange for additional Class B Units, as the case may be, up to the date when the Class B Capital Contribution, together with all Class B Preferred Returns thereon, have been returned to Digiplex (or its Transferee).