Current Class A Return definition

Current Class A Return means an amount equal to the product of fifteen percent (15.0%) per annum, determined on the basis of 365 or 366 days, as the case may be, for the actual number of days in the period for which the Current Class A Return is being determined, times the sum of the Net Class A Capital Contributions, commencing on the date the initial Class A Capital Contribution is made.

Examples of Current Class A Return in a sentence

• Distributions of Current Class A Return under Section 6.6(b) or Section 6.8(e) and Priority Class A Return under Section 6.6(c) or Section 6.8(c) will be made on a monthly basis on or before the 10th day of each calendar month following the calendar month to which the Current Class A Return or Priority Class A Return relates.

• If Class A Member fails to fund its share of any Budgeted Development Capital Calls within ten (10) days of written notification of the need therefor, its Current Class A Return shall be as of that date reduced to seven percent (7%) per annum.

• If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a “Delayed Distribution”), the Current Class A Return and the Priority Class A Return (if any) shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

• Tenant shall have the right with the written permission of Landlord, to erect, at Tenant’s sole cost and expense, such temporary partitions, including office partitions, as may be necessary to facilitate the handling of Tenant’s business and to install telephone equipment and wiring, electrical fixtures, additional lights and wiring, and other trade appliances.

• If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a "Delayed Distribution"), the Current Class A Return, the Priority Class A Return (if any) and the Total Class A Return shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

• All other capital calls shall be made as and in the amount determined by the Manager, including but not limited to for the funding of any Current Class A Return after payments thereon are drawn from the Class A Preferred Reserve, Priority Class A Return, or if additional funds are required by or called for pursuant to the Company Subsidiary LLC Agreement (all such additional funds, other than Budgeted Development Capital Calls, are referred to as "Additional Capital Contribution(s)").

• Distributions of Current Class A Return under Section 6.7(a) and Priority Class A Return under Section 6.7(b), if any, will be made on a monthly basis on or before the 10th day of each calendar month following the calendar month to which the Current Class A Return or Priority Class A Return relates.

• If a distribution of Current Class A Return or Priority Class A Return is not made on or before the 10th day of a calendar month (a "Delayed Distribution"), the Current Class A Return and the Priority Class A Return (if any) shall be calculated by increasing the annual percentage rate therein by 3.5% from the 11th day of such calendar month until such time as all Delayed Distributions are made.

• Until such time as the Class A Units are redeemed or converted to Class B Units as provided in Section 10.4, the Company must at all times maintain an adequate amount in the Class A Preferred Reserve to pay the Current Class A Return on a current basis.