Preferred Distribution Rate means: (i) 8% per annum, non-compounded, to, but excluding, the Rate Increase Date; and (ii) from and after the Rate Increase Date, 12.0% per annum, non-compounded; provided, however, that (A) in the event that the Corporation shall (i) fail to redeem any shares of Series B on any Redemption Date, or (ii) fail to make a dividend payment on any Dividend Payment Date, then from and after such date, until such time that the Event of Default has been remedied in full, the Preferred Distribution Rate then in effect shall be increased to the Default Rate; and (B) upon the occurrence of an Event of Default (other than as described in clause (A) above) which is not cured within 30 days, until such time that the Event of Default has been remedied in full, the Preferred Distribution Rate then in effect shall be increased to the Default Rate.
Preferred Distribution Rate means 9.75% per annum; provided, however, that in the event that the Corporation shall fail to redeem any shares of Series B Preferred Stock on the Mandatory Redemption Date, then from and after such date the “Preferred Distribution Rate” shall be 12.75% per annum.
Preferred Distribution Rate means an annual rate of ten percent (10.0%).
Examples of Preferred Distribution Rate in a sentence
The Preferred Distribution Rate Reset Option is accounted for as an embedded derivative.
See Note 12 for additional information regarding our Series A preferred units and the Preferred Distribution Rate Reset Option.
The Preferred Distribution Rate Reset Option of our Series A preferred units is an embedded derivative that must be bifurcated from the related host contract, our partnership agreement, and recorded at fair value on our Consolidated Balance Sheet.
If the Plan is terminated prior to a Change in Control, the Company reserves the right, at its sole discretion and notwithstanding any elections made by the Participant, to pay such benefits in a lump sum or in annual installments for up to 15 years, with interest credited on the unpaid balance at the Preferred Distribution Rate.
The number of Class B Preferred PIK Units to be issued to a Class B Preferred Holder on account of its Class B Preferred Units in connection with any Class B Preferred Quarterly Distribution paid in Class B Preferred PIK Units shall be determined by multiplying the Class B Preferred Distribution Rate by the number of Class B Preferred Units held by such Class B Preferred Holder.
More Definitions of Preferred Distribution Rate
Preferred Distribution Rate means: (i) 8.75% per annum, compounded monthly, to, but excluding, the Rate Increase Date; and (ii) from and after the Rate Increase Date, 11.0% per annum, compounded monthly; provided, however, that (A) in the event that the Corporation shall fail to redeem any shares of Series D Preferred Stock on the Mandatory Redemption Date, any Optional Redemption Date or any Special Redemption Date, then from and after such date the “Preferred Distribution Rate” shall be 14.97% per annum, compounded monthly on the Liquidation Preference; and (B) upon the occurrence of an Event of Default, until such time that the iStar Representative and the BREDS Representative acknowledge in writing that the Event of Default has been remedied in full, the Preferred Distribution Rate then in effect shall be increased by the Default Rate (including increasing the Preferred Distribution Rate from 14.97% to 19.97% upon the failure to redeem any shares of Series D Preferred Stock on the Mandatory Redemption Date, any Optional Redemption Date or any Special Redemption Date).
Preferred Distribution Rate means: (i) 9.25% per annum, compounded monthly, to, but excluding, the Rate Increase Date; and (ii) from and after the Rate Increase Date, 11.25% per annum, compounded monthly; provided, however, that (A) in the event that the Partnership shall fail to redeem any Series E Preferred Partnership Units on the Mandatory Redemption Date, any Optional Redemption Date or any Special Redemption Date, then from and after such date the “Preferred Distribution Rate” shall be 14.97% per annum, compounded monthly on the Liquidation Preference; and (B) upon the occurrence of an Event of Default, until such time that the iStar Representative and the BREDS Representative acknowledge in writing that the Event of Default has been remedied in full, the Preferred Distribution Rate then in effect shall be increased by the Default Rate (including, increasing the Preferred Distribution Rate from 14.97% to 19.97% upon the failure to redeem any Series E Preferred Partnership Units on the Mandatory Redemption Date, any Optional Redemption Date or any Special Redemption Date).
Preferred Distribution Rate has the meaning ascribed to it in the Elk Hills Power Agreements.
Preferred Distribution Rate means 13.00% per annum plus the LIBOR Rate; provided, that upon a Material Non-Compliance Event, the Preferred Dividend Rate shall increase by 2.00% per annum on such Material Non-Compliance Event and so long as such Material Non-Compliance Event continues without cure, on each anniversary thereof. Any such increase shall continue until such time as there is no longer any Material Non-Compliance Event, Sale Trigger Event or Preferred Delay Condition, as applicable, or the Redemption Price is paid in full in cash, subject to reinstatement upon the occurrence of a subsequent Material Non-Compliance Event.
Preferred Distribution Rate means eight percent (8.0%) per annum, compounded on the last day of each Fiscal Quarter. Notwithstanding the foregoing, upon the occurrence of a Distribution Failure, the Preferred Distribution Rate shall increase to an annual rate of nine percent (9.0%), accruing from the first (1st) day after the end of the Fiscal Quarter with respect to which such Distribution Failure occurs and if such Distribution Failure is a result of a second (2nd) Distribution not being paid in full, the Preferred Distribution Rate shall increase to an annual rate of ten percent (10.0%). If such Distribution Failure is cured and all unpaid Distributions that are due and payable as of such date have been paid in full, the annual rate will revert to eight percent (8.0%), accruing from the first (1st) day after the date on which such Distribution Failure is cured and subject to increase in the event another Distribution Failure occurs in the future.
Preferred Distribution Rate shall have the meaning provided in Section 3.2(a). "Preferred Shares" means the Class A Preferred and the Class B Preferred. "Property" means all real and personal property acquired by the Company, including cash, and any improvements thereto, and shall include both tangible and intangible property. "Purchase Price" shall have the meaning provided in Section 11.7(d). "Purchasing Member" shall have the meaning provided in Section 11.7(c). "Quarterly Distribution Period" means the applicable period from December 31 up to the next March 31, from March 31 up to the next June 30, from June 30 up to the next September 30 or from September 30 up to the next December 31; provided, that the first Quarterly Distribution Period for any Preferred Share shall mean the period commencing on the date of the original issuance of such Share up to the first March 31, June 30, September 30 or December 31 to occur thereafter. "RAMP Investments" means RAMP Investments, L.L.C., a Delaware limited liability company, and a Subsidiary of the Company. "RAMP Investments Operating Agreement" means the Operating Agreement of RAMP Investments, dated as of the date hereof. "Redemption Price" shall have the meaning provided in Section 3.4(a). "Rescission Notice" shall have the meaning provided in Section 11.7(b). "Rule 144" shall have the meaning provided in Section 9.4. "SEC" shall have the meaning provided in Section 9.4. "Second Appraiser" shall have the meaning provided in Section 3.5. "Second Company Assignment and Assumption Agreement" means an Assignment and Assumption Agreement in the form of Exhibit B, dated as of the date of such Additional Contribution, pursuant to which the Company assigns and RAMP Investments assumes the obligations of PCI (as assumed by the Company pursuant to a PCI Assignment and Assumption Agreement) under the Second PCJL Note. "Second PCI Assignment and Assumption Agreement" means an Assignment and Assumption Agreement in the form of Exhibit F, dated as of the date of such Additional Contribution, pursuant to which PCI assigns and the Company assumes the obligations of PCI under the Second PCJL Note. "Second PCJL Note" shall have the meaning provided in Section 2.2(b). "Securities Act" means the Securities Act of 1933, as amended. "S&P" means Standard & Poor's Corporation. "Share" or "Shares" refers to the Class A Preferred and the Class B Shares representing the Members' limited liability company interests in the Company plus any additional limited liabi...
Preferred Distribution Rate means an annual rate of 13.5%. Notwithstanding the foregoing, (i) upon the occurrence of the event described in clause (b) of the Trigger Event definition set forth below or (ii) during the pendency of a QF Event (other than a Change in Law QF Event),