Preferred Share Distribution Account definition

Preferred Share Distribution Account. A segregated account established and designated as such by the Preferred Shares Paying Agent pursuant to the Preferred Share Paying Agency Agreement.

Preferred Share Distribution Account. The meaning set forth in Section 3.3.

Preferred Share Distribution Account. The meaning set forth in Section 3.3. “Preferred Share Paying Agent”: The Bank, solely in its capacity as Preferred Share Paying Agent under this Agreement, unless a successor Person shall have become the Preferred Share Paying Agent pursuant to the applicable provisions of this Agreement, and thereafter “Preferred Share Paying Agent” shall mean such successor Person. “Preferred Share Register”: The register of members maintained by the Preferred Share Registrar. “Preferred Shares”: The meaning set forth in the Preliminary Statement to this Agreement. “Purchaser”: Each purchaser of an interest in Preferred Shares, including any account for which it is acting. “Purchaser Certificate”: A certificate substantially in the form attached as an exhibit to the Subscription Agreement, duly completed as appropriate. “QEF”: The meaning assigned in Section 4.5(ii). “Qualified Institutional Buyer”: Any Person that, at the time of its acquisition, purported acquisition or proposed acquisition of Preferred Shares, is a qualified institutional buyer within the meaning of Rule 144A. “Qualified Purchaser”: Any Person that, at the time of its acquisition, purported acquisition or proposed acquisition of Preferred Shares, is a qualified purchaser within the meaning of the Investment Company Act. “Record Date”: Each Record Date under the Indenture. “Redemption Date”: The earlier of (i) the Stated Maturity Date and (ii) the Payment Date on which a redemption of the Preferred Shares occurs. “Redemption Price”: The Redemption Price for the Preferred Shares calculated in accordance with the procedures set forth in the Indenture. -5-

Examples of Preferred Share Distribution Account in a sentence

• The Preferred Share Paying Agent shall promptly credit all Available Funds to the Preferred Share Distribution Account.

• Evidence of the establishment of the Payment Account, the Collection Account, the Unused Proceeds Account, the RDD Funding Account, the Expense Account, the Preferred Share Distribution Account and the Custodial Account.

• For the avoidance of doubt, the Preferred Share Distribution Account (and interest, if any, earned on amounts on deposit therein) shall be owned by the Issuer (or the related REIT so long as the Issuer is a Qualified REIT Subsidiary) for U.S. federal income tax purposes.

• All sums payable by the Preferred Share Paying Agent hereunder shall be paid out of the Preferred Share Distribution Account.

• Evidence of the establishment of the Payment Account, the Collection Account, the Unused Proceeds Account, theRDD Funding Account, the Expense Account, the Preferred Share Distribution Account and the Custodial Account.

• Evidence of the establishment of the Payment Account, the Collection Account, the Unused Proceeds Account, the Future Funding Reserve Account, the Expense Account, the Preferred Share Distribution Account and the Custodial Account.

• Evidence of the establishment of the Payment Account, the Preferred Share Distribution Account, the Reinvestment Account, the Unused Proceeds Account, the Custodial Account, the Collection Account and the Expense Reserve Account.

• Evidence of the establishment of the Payment Account, the Collection Account, the RDD Funding Account, the Expense Account, the Preferred Share Distribution Account and the Custodial Account.

• On each Payment Date, Available Funds that constitute Interest Proceeds under the Indenture shall be distributed in the following order of priority: (A) to the Class P Preferred Shares, to the extent of accrued and unpaid dividends thereon; (B) to the Class X Preferred Shares, to the extent of accrued and unpaid dividends thereon; and (C) to the Class R Preferred Shares, the remaining Interest Proceeds (if any) in the Preferred Share Distribution Account.

More Definitions of Preferred Share Distribution Account

Preferred Share Distribution Account for the benefit of the Issuer (the “Preferred Share Distribution Account”). The Preferred Share Paying Agent shall promptly credit all Available Funds to the Preferred Share Distribution Account. All sums payable by the Preferred Share Paying Agent hereunder shall be paid out of the Preferred Share Distribution Account. For the avoidance of doubt, the Preferred Share Distribution Account (and interest, if any, earned on amounts on deposit therein) shall be owned by the Issuer (or the related REIT so long as the Issuer is a Qualified REIT Subsidiary) for U.S. federal income tax purposes. Section 3.4.