Priority Distribution definition

Priority Distribution means, with respect to any Member for any period commencing on or after the Effective Date, an amount equal to the product of (i) LIBOR plus 200 basis points per annum (the “Priority Rate”) and (ii) the sum of the average daily Preference Amount of each Member for such period and the amount of any unpaid Priority Distributions of such Member on the first day of such period.

Priority Distribution means a hypothetical amount determined solely for purposes of the alternative fee schedule calculation to determine the Asset Management Fee Limit under the provisions of Section 8.3 of the Operating Agreement. Such amount will equal, for any calendar year or other period with respect to the Units held by any Person, the average Adjusted Invested Capital with respect to such Units during such period multiplied by 10% per annum (calculated on a cumulative basis, compounded daily, from the last day of the calendar quarter in which the capital contribution of the initial purchaser of such Units was received by the Fund and pro rated for any fraction of a calendar year for which such calculation is made).

Priority Distribution the amounts set forth on Schedule 1 to the Partnership Agreement, Schedule 4 to the Participation Agreement and Schedule 2 to the Trust Agreement, which under any circumstances and in any event, will be an amount at least sufficient to pay in full as of the date of payment thereof, the principal amount of and interest on the Notes due on such date.

Examples of Priority Distribution in a sentence

• If the assets and funds thus distributed among the holders of the Series A Preferred Stock shall be insufficient to permit payment to such holders of the full amount of the Priority Distribution, then the entire assets and funds of this corporation legally available for distribution shall be distributed ratably among the holders of the Series A Preferred Stock in proportion to the amount of such stock owned by each such holder.

• After the holders of the Class B Common Shares have received an amount per Class B Common Share equal to the Priority Distribution, the holders of the Priority Common Shares shall be entitled to receive any further distributions on a pro rata basis with the holders of the Class B Common Shares.

• In the event that the Company at any time is unable to pay to the holders of the Class B Common Shares an amount per Class B Common Share equal to the Priority Distribution, during the Priority Period the holders of the Class B Common Shares shall be entitled to receive an amount such that the cumulative amount received per Class B Common Share is equal to the cumulative Priority Distribution received per Priority Common Share.

• Section 7.1(h) is hereby amended by inserting the words " and Series F Priority Return and" before the words "Priority Distribution Amount" therein.

• The Tolling Period shall: (i) extend the term of the payments on such Secured Claim or Priority Claim and (ii) bar any interest from accruing on the Secured Claim or Priority Claim until such time as any dispute regarding the Secured or Priority Distribution Refusal shall be resolved by a final order of the court.

More Definitions of Priority Distribution

Priority Distribution has the meaning specified in Section 5.2.

Priority Distribution means an amount to be distributed to KM, in its capacity as a Limited Partner, during the first four Fiscal Years and that is equal to the lesser of (i) the Available Cash From Operations for the subject Fiscal Year or (ii) $14,500,000. The Priority Distribution shall be cumulative from Fiscal Quarter to Fiscal Quarter (at a rate of $3,625,000 per Fiscal Quarter) during each Fiscal Year but shall not be cumulative from Fiscal Year to Fiscal Year. The computation of the amount of any Priority Distributions to be made during any Fiscal Quarter shall take into account, and shall include to the extent of Available Cash From Operations for such Fiscal Quarter, the amount, if any, by which $3,625,000 exceeded the amount of actual Priority Distributions for any earlier Fiscal Quarters during such Fiscal Year; provided however that if Available Cash From Operations for the subject Fiscal Year is at least $14,500,000, the distribution to KM for the fourth Fiscal Quarter (regardless of the amount, if any, of Available Cash From Operations for the fourth Fiscal Quarter) shall equal $14,500,000 less the total Priority Distributions paid to KM with respect to the first, second and third Fiscal Quarters. The computation of the amount of any Priority Distributions to be made during any Fiscal Year shall not take into account the amount, if any, by which $14,500,000 exceeded the amount of actual Priority Distributions for any earlier Fiscal Year. Notwithstanding the foregoing, the Priority Distribution to KM with respect to the First Quarter shall be in an amount equal to $3,625,000 less the amount of KM's Initial Adjustment Amount.

Priority Distribution for any calendar year or other period shall mean, with respect to the Units held by any Person, the average Adjusted Invested Capital with respect to such Units during such period multiplied by 10% per annum (calculated on a cumulative basis, compounded daily, from the last day of the calendar quarter in which the capital contribution of the initial purchaser of such Units was received by the Fund and pro rated for any fraction of a calendar year for which such calculation is made).

Priority Distribution means the amount, if any, by which Starting Equity exceeds $6 million.

Priority Distribution has the meaning ascribed to that term in Section 7.1(e).

Priority Distribution means the distribution of the Priority Return to the Enterprise Member pursuant to Section 8.2(b) hereof.

Priority Distribution means (a) with respect to the Limited Partner as of any particular time (the "Limited Partner's Priority Distribution"), an amount equal to 8 1/2% per annum, cumulative but not compounded, of the weighted average daily amount of such Partner's Adjusted Capital Contribution from the Closing Date through and including such time; and (b) with respect to the General Partner as of any particular time (the "General Partner's Priority Distribution"), an amount equal to 8 1/2% per annum, cumulative but not compounded, of the weighted average daily amount of the General Partner's Adjusted Capital Contribution from the beginning of the calendar year (and not from the Closing Date) with respect to which such distribution is determined through and including such time, which distributions (both the Limited Partner's Priority Distribution and the General Partner's Priority Distribution) are, to the extent provided in this Agreement, made monthly in arrears and computed on the basis of a 360-day year of twelve 30-day months.