Distribution Period definition
Examples of Distribution Period in a sentence
Except as otherwise provided in Section 13, the Company shall make distributions, if, as and when declared by the Managing Member, to the Class A Limited Members on each Class A Distribution Date, in an amount equal to the cumulative amount of the Class A Limited Member Preferred Return accrued in respect of the related Class A Distribution Period for each such Class A Limited Member’s Unrecovered Capital.
The interest accrued on any Class A Ownership Tranche (or related Class A Funding Tranche) for any Distribution Period shall be determined using the applicable Class A Tranche Rate and shall equal the product of (x) the Weighted Average Class A Principal Balance for that Class A Ownership Tranche (or Class A Funding Tranche), (y) the applicable Class A Tranche Rate and (z) the applicable Day Count Fraction.
Each of the Underwriters, within the Distribution Period, will notify the Representatives, and the Representatives will notify the Partnership, in writing, when distribution of the Units and the Additional Units has terminated.
Until an alternate rate of interest shall be determined in accordance with this Section 4.5(b) (but, in the case of the circumstances described in clause (ii) of the first sentence of this Section 4.5(b), only to the extent the Term SOFR for such Class A Distribution Period is not available or published at such time on a current basis), Section 4.5(a) shall be applicable.